Automotive Semiconductors Market is expected to grow at a CAGR of 13.75%
Global
Automotive Semiconductors Market is expected to grow owing to increasing focus
on vehicle safety and the widespread adoption of Advanced Driver-Assistance
Systems (ADAS) throughout the forecast period.
According
to TechSci Research report, “Automotive
Semiconductors Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2019-2029”, the Global Automotive Semiconductors
Market is expected to register robust growth during the
forecast period.
The growing adoption of
electric vehicles is a major driver for the automotive semiconductors market.
Electric vehicles rely heavily on semiconductor components for power
management, battery control, and electric motor drives. As governments
worldwide implement stringent emission standards and offer incentives for
electric vehicle adoption, the demand for advanced semiconductors that enhance
the efficiency and performance of electric powertrains continues to rise.
The
increasing adoption of electric vehicles represents a significant opportunity
for the automotive semiconductors market. Electric vehicles rely heavily on
semiconductor components for power management, battery control, and electric
motor drives. As governments worldwide set ambitious targets for reducing
emissions and promoting sustainable transportation, semiconductor manufacturers
have the opportunity to develop specialized solutions for the evolving needs of
the electric vehicle ecosystem.
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Automotive Semiconductors Market"
Based
on component type, the
Micro-components segment is expected to dominate the market during the forecast
period. In addition to the traditional role of storing software and firmware,
memory devices are essential for managing the vast amounts of data generated by
sensors and cameras in autonomous driving systems. The ongoing trend of
connected vehicles and the Internet of Things (IoT) in the automotive sector
further emphasizes the importance of memory devices for storing and processing
data related to vehicle-to-everything (V2X) communication. Sensors are critical
micro-components that enable vehicles to perceive and respond to their surroundings.
The automotive industry relies on various types of sensors, including radar,
lidar, ultrasonic sensors, and image sensors, to support functionalities such
as collision avoidance, parking assistance, and autonomous driving. As the
demand for safety features and ADAS grows, the sensor segment within
micro-components becomes increasingly vital. Moreover, sensors play a key role
in enhancing the efficiency and performance of electric vehicles. Battery
management systems use sensors to monitor temperature, voltage, and current,
ensuring the safe and optimal operation of the vehicle's battery. The
development of more advanced and precise sensors is a continuous focus within
the micro-components segment to meet the evolving requirements of the automotive
industry. The micro-components segment of the global automotive semiconductors
market is witnessing dynamic growth driven by the industry's technological
advancements. Microcontrollers, microprocessors, memory devices, and sensors
are foundational elements shaping the trajectory of automotive electronics. As
vehicles become more connected, automated, and electrified, the demand for
advanced micro-components is expected to continue, fueling innovation and
collaboration within the automotive semiconductor ecosystem. Manufacturers and
suppliers focusing on developing reliable, efficient, and high-performance
micro-components will be well-positioned to capitalize on the evolving needs of
the automotive industry.
Based
on vehicle type, the Passenger Cars segment is projected to dominate the market
throughout the forecast period. The trend towards connected cars and the
Internet of Things (IoT) has led to a surge in the integration of communication
modules and connectivity solutions within passenger vehicles. Semiconductors
enable features such as vehicle-to-everything (V2X) communication, allowing
cars to communicate with each other and with the surrounding infrastructure.
This trend is expected to accelerate with the development of autonomous
vehicles, where communication between vehicles and with the external
environment is critical. The ongoing shift towards electric vehicles (EVs) and
hybrid vehicles is reshaping the powertrain technologies in the passenger cars
segment. Semiconductors are essential for managing the complex power
electronics systems, battery management, and electric motor drives in electric
and hybrid vehicles. The demand for energy-efficient and high-performance
semiconductors has intensified with the growing adoption of electric
powertrains. Additionally, advancements in semiconductor technology are
facilitating innovations in powertrain efficiency, allowing for regenerative
braking, energy recovery, and overall optimization of electric vehicle
performance. As governments worldwide implement stricter emission standards and
incentivize electric mobility, semiconductor manufacturers are actively
contributing to the development of powertrain solutions that support the
electrification trend in passenger cars. The passenger cars segment is a
dynamic and influential driver of the global automotive semiconductors market.
The integration of advanced safety features, infotainment systems, connectivity
solutions, and powertrain technologies underscores the significance of
semiconductor components in shaping the future of passenger vehicles.
Semiconductor manufacturers that focus on delivering reliable,
energy-efficient, and high-performance solutions tailored to the evolving needs
of the passenger cars segment are poised to play a crucial role in the ongoing
transformation of the automotive industry.
Key
market players in the Global Automotive Semiconductors Market are:-
- Infineon
Technologies AG
- NXP
Semiconductors N.V.
- Renesas
Electronics Corporation
- Texas
Instruments Incorporated
- On Semiconductor
Corporation
- Robert Bosch
GmbH
- STMicroelectronics
N.V.
- Toshiba
Corporation
- ROHM Co., Ltd.
- Denso
Corporation
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“The
Global Automotive Semiconductors Market in Asia-Pacific is poised to be the
dominant force in the industry. Asia
Pacific, particularly countries like China, Japan, South Korea, and India,
serves as a major production hub for leading automotive original equipment
manufacturers (OEMs). The region accounts for a substantial portion of the
global vehicle production, driving the demand for a wide range of automotive
semiconductors. China, in particular, has emerged as the largest automotive
market globally, and the growth of electric vehicles (EVs) and advanced
driver-assistance systems (ADAS) in the country further intensifies the demand
for semiconductor components.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Automotive
Semiconductors Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast Segmented By Component Type (Micro-components, Analog IC, Discrete
Power Device, Sensor, Memory Device and Logic IC), By Vehicle Type (Passenger
Cars and Commercial Vehicles), By Application Type (Powertrain, Safety, Body
Electronics, Chassis and Telematics & Infotainment), By Region, and By
Competition 2019-2029”
has evaluated the future growth potential of Global Automotive Semiconductors
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Automotive
Semiconductors Market.
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