WASHINGTON, June 21, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Automotive Semiconductor Market finds that the increasing vehicle safety system implementation is expediting market growth. In addition, increasing development in the automobile industry and rising disposable income of the consumers are anticipated to augment the growth of the Global Automotive Semiconductor Market during the forecast period.
The Global Automotive Semiconductor Market revenue is expected to reach a value USD 73.2 Billion in the year 2028.
The Global Market revenue stood at a value USD 38.1 Billion in the year 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period; states Vantage Market Research, in a report, titled “Automotive Semiconductor Market Size, Share & Trends Analysis Report by Component (Processor, Analog IC, Discrete Power Device, Sensor), by Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), by Fuel Type (Gasoline, Diesel, Electric/Hybrid Electric Vehicle (EV/HEV), by Application (Powertrain, Safety, Body Electronics, Chassis), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Driver:
Rising Vehicle Safety System Implementation to Drive the Market Growth
In the last few years, the global market has witnessed a significant increase in the demand for Automotive Semiconductor Market. The growing demand for safety and security requirements will fuel the Global Automotive Semiconductor Market growth during the forecast period. According to the World Health Organization, about 1.24 million people die as a result of road accidents each year. If this trend continues, road accidents will be the seventh leading cause of death by 2030. This has led to a greater focus on risk prevention through the use of safety measures. As a result, functional safety features are increasingly integrated into vehicles to help prevent collisions and accidents. Among the provisions for vehicle safety, crash prevention technology, which includes automated emergency braking systems for passenger cars, is planned to remain a common feature of most new vehicles manufactured from 2022 to 2023. Thus, with the increasing adoption of vehicle safety systems, the market for Automotive Semiconductor Market is expected to grow significantly in the forecast period.
Increasing Development in the Automobile Industry to Stimulate Market Growth
In the automotive industry, the semiconductor is used to control an unsafe system, manage the functions of an electrical control unit, and auto accident tolerance systems, where it treats a car accident (accelerator, anti-lock brake connector, and broken lights) and notices the same on microcontroller and safety system installed in all vehicles. For example, it will highlight the tolerance of mistakes, if the car fails to catch on snowy roads. Under such circumstances, the incident is sensed by sensors and semiconductor devices, which then turn on the anti-lock braking, when the driver applies the brakes. Therefore, semiconductors are an important part of the automotive industry and rapid development in the automotive industry is expected to increase market growth in the years to come.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Automotive Semiconductor market is predicted to grow at a CAGR of roughly 11.5% during the forecast period.
- The Automotive Semiconductor market was estimated to be worth roughly USD 38.1 Billion in 2021 and is expected to reach USD 73.2 Billion by 2028; based on primary research.
- On the basis of region, Europe is projected to dominate the worldwide Automotive Semiconductor market.
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Segmentation of the Global Automotive Semiconductor Market:
- Component
- Processor
- Analog IC
- Discrete Power Device
- Sensor
- Memory Device
- Lighting Device
- Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Fuel Type
- Gasoline
- Diesel
- Electric/Hybrid Electric Vehicle (EV/HEV)
- Application
- Powertrain
- Safety
- Body Electronics
- Chassis
- Telematics and Infotainment
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/automotive-semiconductor-market-1661
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT automotive industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Automotive Semiconductor Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Europe Dominated the Global Automotive Semiconductor Market
Europe dominated the Global Automotive Semiconductor Market in 2021 and is likely to continue the same trend during the forecast period. With maximum market share in car production and sales, the region has already emerged as an important automotive hub. The main reason for this is the growing Chinese car industry. This market has evolved into a major automotive manufacturer and consequently a major supplier of semiconductor vehicles worldwide. Along with this, declining oil prices, tight government regulations, rapid technological advances, and the use of advanced vehicles are factors that make this region the fastest-growing region as well in the market.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Automotive Semiconductor Market Size, Share & Trends Analysis Report by Component (Processor, Analog IC, Discrete Power Device, Sensor), by Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), by Fuel Type (Gasoline, Diesel, Electric/Hybrid Electric Vehicle (EV/HEV), by Application (Powertrain, Safety, Body Electronics, Chassis), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
List of Prominent Players in Automotive Semiconductor Market:
- Renesas Electronics Corp. (Japan)
- Infineon Technologies AG (Germany)
- STMicroelectronics N.V. (Switzerland)
- NXP Semiconductors N.V (Netherlands)
- Texas Instruments Inc. (US)
- Denso Corp. (Japan)
- Delphi Automotive PLC (UK)
- Standard Motor Products Inc. (US)
- Honda Motor Co. Ltd. (Japan)
- General Motors (US)
- Ford Motor Co. (US)
Recent Developments:
September 2021: ROHM announced the development of new SerDes ICs and PMICs designed specifically for automotive satellite cameras to support Driver Assistance Systems (ADAS). These products will aid in low power consumption, low electromagnetic noise, and integrate ADAS system modules.
September 2021: Infineon Technologies AG opened its new chip tech factory at its Villach location in Austria. The factory will produce powerful electronics in 300-millimeter small batches to support a variety of features connected to a wide range of automotive applications.
July 2021: STMicroelectronics announced an anchor partnership with start-up Autobahn; there are major types of vehicles and dealers in the Autobahn anchor relationship, with the support of STMicroelectronics through semiconductors, the main emphasis will be placed on the intelligent movement of electric and smart driving vehicles.
June 2021: ON Semiconductor announced the new AutoX's Gen5 automotive platform for its LiDAR and image sensor technology. This independent Gen5 technology, with the help of 28 2D image sensors and four 3D LiDAR sensors, allows RoboTaxi to be fully operational to transport goods and people.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Automotive Semiconductor Market?
- How will the Automotive Semiconductor Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Automotive Semiconductor Market?
- What is the Automotive Semiconductor market drivers and restrictions?
- What will be the CAGR and size of the Automotive Semiconductor Market throughout the forecast period?
This market titled “Automotive Semiconductor Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Component • Processor • Analog IC • Discrete Power Device • Sensor • Memory Device • Lighting Device • Vehicle Type • Passenger Car • Light Commercial Vehicle (LCV) • Heavy Commercial Vehicle (HCV) • Fuel Type • Gasoline • Diesel • Electric/Hybrid Electric Vehicle (EV/HEV) • Application • Powertrain • Safety • Body Electronics • Chassis • Telematics and Infotainment • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • Renesas Electronics Corp. (Japan) • Infineon Technologies AG (Germany) • STMicroelectronics N.V. (Switzerland) • NXP Semiconductors N.V (Netherlands) • Texas Instruments Inc. (US) • Denso Corp. (Japan) • Delphi Automotive PLC (UK) • Standard Motor Products, Inc. (US) • Honda Motor Co. • Ltd (Japan) • General Motors (US) • Ford Motor Co. (US) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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