Automotive Semiconductor Market Size to Surpass US$ 115.78 Bn by 2030

Tokyo, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The global automotive semiconductor market size was estimated at USD 43.6 billion in 2021, as per new study. During the forecast period, the increased advanced driver assistance usage is expected to boost the automotive semiconductor market growth. The advanced driver assistance applications in automobile have increased due to the increasing use of software algorithms, computers, sensors, and enhanced technologies in mapping. In response to growing concerns about passenger safety and security, developing country governments have imposed strict safety standards on automobile manufacturers to build vehicles with advanced driver assistance systems. Over the forecast period, such factors are expected to boost the automotive semiconductor market.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1541

Over the forecast period, rising demand for electronic content per automobile is likely to drive the growth of the automotive semiconductor market. Furthermore, as electronic components become more widely used in luxury and mass market vehicles, the industry is likely to rise steadily over the coming years.

Report Coverage

Report Highlights

• By vehicle type, passenger vehicle is a largest segment in 2020. The high demand for passenger vehicles around the world is responsible for the growth of the segment. The demand for passenger automobiles has surged as the middle-class population has grown and disposable income has improved.
• Europe is the largest segment for automotive semiconductor market in terms of region.The automotive semiconductor market has grown to be the world’s largest automobile manufacturer and as a result, the world’s largest consumer of automotive semiconductor.
• Asia-Pacific region is the fastest growing region in the automotive semiconductor market.With a majority of the market share in terms of vehicle production and sales, the region has established itself as a major automotive hub. The expanding automobile market is the key driver of the Asia-Pacific automotive semiconductor market.
  
  

Ask here for more customization study@ https://www.precedenceresearch.com/customization/1541

Market Dynamics

Drivers

Surge in demand for electric vehicles

The electric and hybrid vehicles are becoming increasingly popular around the world. The decreasing cost of components such as lithium-ion batteries, sensors, and microcontrollers is expected to drive the development of an electrical vehicle mass market in the near future. Furthermore, because electric vehicles play an important role in reducing carbon emissions and combating air pollution, governments around the world are heavily promoting them. Currently, electric vehicles account for less than 1% of new vehicle sales, but as component costs fall, consumers and manufacturers are shifting toward electric vehicles. Thus, the surge in demand for electric vehicles is driving the growth of the automotive semiconductor market during the forecast period.

Restraints

Stringent government regulations

The stringent government regulations are imposed on the application and usage of the automotive semiconductors. The key market players need to follow specific guidelines while manufacturing and packaging automotive semiconductors. The labeling is also done with the proper guidelines provided by government agencies. If these regulations are not followed, then strict action is taken against this. As a result, the stringent government regulations are hindering the growth of the automotive semiconductor market during the forecast period.

Opportunities

Growing technological developments in the automotive industry

A semiconductor is used in the automotive industry to control and manage electrical control unit (ECU) functionsand automotive fault tolerant systems, where it handles and operates the error that occurs in the vehicle and informs the microcontrollers and safety systems installed throughout vehicles. For example, if a vehicle loses traction on snow-covered roads, it would highlight fault tolerance. In such cases, the incident is detected by sensors and semiconductor devices, which then activate anti-lock braking when the driver applies the brakes. As a result, the growing technological advancements in the automotive industry is creating lucrative opportunities for the growth of the automotive semiconductors market during the forecast period.

Challenges

Unstable climatic conditions

The automotive semiconductor market is hampered by operational failures in extreme climatic conditions such as extreme cold and extreme heat.When exposed to high temperatures, semiconductors tend to melt or break, causing the resistance to increase and the signal to become too weak, resulting in failures. When it is moved to an optimal temperature, the resistance decreases and the temperature becomes stable. Extreme cold, on the other hand, is not good for semiconductors because it causes them to fail. Its average operating temperature is -25°C, and its maximum temperature is +150°C. As a result, colder regions prefer fewer semiconductors. As a result, consumers are shifting toward the use of alternative electronic components such as microcontrollers, integrated circuits, and others, influencing the growth of the automotive semiconductor market. Thus, the unstable climatic conditions are a major challenge for the expansion of the global automotive semiconductor market over the projection period.

Related Reports

• Ready Report | Automotive Aftermarket Research Report 2021 – 2027
• Automotive Airbag Market Research Report 2021 – 2030
• Automated Guided Vehicle Market Research Report 2021 – 2030
  
  

Segments Covered in the Report

By Component

• Processor
• Discrete Power
• Sensor
• Memory
• Others
  
  

By Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
  
  

By Fuel Type

• Gasoline
• Diesel
• Electric/Hybrid Electric Vehicle (EV/HEV)
  
  

By Application

• Chassis
• Powertrain
• Safety
• Telematics & Infotainment
• Body Electronics
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

Click Here to View Full Report Table of Contents

Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1541

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R