Austin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The Automotive Semiconductor Market Share is estimated to rise as high as about USD 111.07 billion by 2032. During the forecast period of 2024-2032, it is assumed to grow at a CAGR of around 10.2%. The spread of EVs, adoption of ADAS technologies, and rising vehicle electrification have added into the demand for automotive semiconductors. Additionally, government policies to curb carbon emissions and further road safety are also augmenting the growth of the market.
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KEY PLAYERS
The major Automotive Semiconductor Market key players are as follows:
- Analog Devices, Inc. :(LIDAR Solutions, Battery Management Systems (BMS))
- Infineon Technologies AG: (AURIX™ Microcontroller, CoolMOS™ Power Transistors)
- NXP Semiconductors N.V.: (S32 Automotive Platform, BlueBox Development Platform)
- Renesas Electronics Corp.: (R-Car H3, RH850 Family)
- Robert Bosch GmbH: (Semiconductors for Radar Sensors, Micro-Electro-Mechanical Systems (MEMS))
- ROHM Co., Ltd.: (SiC Power Devices, Motor Drivers for Automotive Applications)
- STMicroelectronics N.V.: (SPC5 Automotive Microcontrollers, Power MOSFETs for EV/HEV)
- Toshiba Corp.: (Automotive Power Semiconductors, Image Recognition Processors)
- Texas Instruments, Inc.: (DLP® Technology, Automotive Battery Management Systems (BMS))
- Semiconductor Components Industries LLC (ON Semiconductor): (Strata Developer Studio™, Advanced Driver Assistance Systems (ADAS) Sensors)
- Qualcomm Technologies, Inc.: (Snapdragon™ Ride Platform, C-V2X (Cellular Vehicle-to-Everything))
- Micron Technology, Inc.: (Automotive LPDDR5 Memory, Automotive NOR Flash)
- Intel Corporation: (Mobileye EyeQ®, Intel Atom® Processors)
- Xilinx, Inc. (AMD): (Versal AI Core Series, Zynq® UltraScale+ MPSoC)
- Infineon Technologies AG: (AURIX™ Microcontroller, CoolMOS™ Power Transistors)
- Renesas Electronics Corp.: (R-Car H3, RH850 Family)
- NXP Semiconductors N.V.: (S32 Automotive Platform, BlueBox Development Platform)
- Texas Instruments, Inc.: (DLP® Technology, Automotive Battery Management Systems (BMS))
- Analog Devices, Inc.: (LIDAR Solutions, Battery Management Systems (BMS))
Automotive Semiconductor Market Dynamics:
More than 71% of new vehicles will be dependent more heavily on advanced semiconductor components in electric powertrains, features involving ADAS, and connected vehicle systems by 2032. The adoption of autonomous driving technologies and energy-efficient solutions is likely to further boost demand for high-performance semiconductors. Among the drivers, the trend of the auto industry toward electrification and advanced connectivity is most likely to promote the growth of the automotive semiconductor market.
Market Segmentation:
By Vehicle Type & Components Type Segments
The passenger vehicle would be the market's major segment likely to capture around 65%, led mainly by the adoption of semiconductors in electric and hybrid vehicles. Commercial vehicle is also witnessing an increasing traction as semiconductors are giving an impetus to enhancing power management, safety features, and fleet efficiency.
Type of semiconductor-wise, it is observed that power semiconductors constitute around 40% of the market. It can be observed that there is a growth trend in power devices to manage energy consumption in electric and autonomous vehicles. Sensors and microcontrollers are seen to grow substantially due to the demand for ADAS and vehicle automation. It is assumed that by 2032, the share of sensors would go up to 30% because these play a very fundamental role in capturing data in real time, especially in cases of autonomous and connected vehicles.
Basically, power semiconductors and sensors are a must-have to make the technology work for autonomous driving, battery-efficient driving, and other advanced and enhanced safety features. These two are expected to lead the market in terms of the most potential for further growth, with an amount that is more than 50% of the total market.
Software solutions for ADAS (advanced driver assistance systems), real-time communication, and vehicle-to-infrastructure (V2I) technologies will lead the market to approximately 25%, while services such as system maintenance and updates account for 15% of the overall market.
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North America Region will be Dominating the market over forecast period
North America is expected to continue to be the highest-spending region in the Automotive Semiconductor market in 2032, with around 45% of the total global market, mainly dominated by the U.S. Its growth is attributed to the leading automotive manufactures and high-tech companies as well as the regional focus on the massive deployment of EVs and autonomous driving. The adoption rate in Canada is anticipated to grow at a growth rate of 10% under favourable regulations for EVs and government incentives.
Competitive Landscape
The automotive semiconductor market has seen increased collaboration between automotive OEMs and semiconductor companies.
More than 40% of the best global automotive players are partnering with semiconductor firms for enhancing capabilities in power management and autonomous driving systems.
The collaborations would focus on energy-efficient solution-oriented AI vehicle management and autonomous driving in more than 30% of all future developments.
Key Takeaways
- North America and Europe, that have extremely high demands are the primary growth drivers aided by the mandates for reduced carbon and vehicle safety through sophisticated applications of semiconductor.
- Semiconductor system that functions based on sensor by 2032 is expected to capture a market share of 30% as demanded for real-time data and improvement of automation in vehicle.
- The power management semiconductors are going to constitute close to 40% of the market, which would be particularly necessary for EVs and hybrid vehicles. The adoption trend of such solutions would grow manifold with the trend of electrification becoming mainstream.
- Automotive semiconductor market is going to be a catalyst for the transition toward safer, connected, and energy-efficient vehicles in both passenger and commercial segments.
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BENEFITS:
1. No. Of Pages: 435 Pages Report
2. Regions/Countries:
- North America (3 Countries)
- Europe (~15 Countries)
- Asia Pacific (~10 Countries)
- Latin America (~5 Countries)
- Middle East & Africa (~5 Countries) (Include Israel)
3. ME Sheet: Market Estimation in Excel Format
4. Company Analysis:
- Major 16 companies covered in final report.
- Additional 5 companies will be covered as per client demand complimentary.
5. Statistical Insights and Trends Reporting:
- Vehicle Production and Sales Volumes, 2020-2032, by Region
- Emission Standards Compliance, by Region
- Vehicle Technology Adoption, by Region
- Consumer Preferences, by Region
6. Buying Options
- Single User License: USD 3350
- Enterprise User License: USD 5350
- Excel Datasheet: USD 2325
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