Pune, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Automotive Semiconductor Market, as per the SNS Insider report, achieved a valuation of USD 46.93 billion in 2022 and is projected to attain USD 74.81 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6% during the forecast period from 2023 to 2030.
Market Overview
Automotive semiconductors are specialized electronic components designed for use in automobiles and other vehicles. These semiconductor devices play a crucial role in the modern automotive industry by enabling various electronic systems and functions within vehicles. They are a fundamental part of the rapidly evolving field of automotive technology, contributing to advancements in safety, efficiency, connectivity, and overall driving experience. Automotive semiconductors contribute to the overall efficiency of vehicles. They are used in engine management systems to optimize fuel efficiency and reduce emissions. Hybrid and electric vehicles heavily depend on semiconductor technology for power control and energy management.
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Market Analysis
The automotive semiconductor market is experiencing significant growth driven by various factors that are shaping the future of the automotive industry. The shift towards electric and autonomous vehicles is one of the primary drivers for the market. Electric vehicles (EVs) require sophisticated semiconductor components for power management, battery control, and electric drivetrains. Autonomous vehicles rely heavily on sensors, processors, and AI algorithms, creating a substantial demand for advanced semiconductors. The proliferation of connected vehicles and the development of Vehicle-to-Everything (V2X) communication systems require semiconductors for in-car connectivity, infotainment systems, and telematics. Consumers expect seamless integration of smartphones and other devices, which relies on semiconductor components. Stricter emissions regulations and environmental concerns are pushing automakers to develop more fuel-efficient and eco-friendly vehicles. Semiconductor technologies play a crucial role in optimizing engine performance, reducing emissions, and improving fuel efficiency.
Automotive Semiconductor Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 46.93 billion |
| Market Size by 2030 | USD 74.81 billion |
| CAGR | CAGR of 6% over 2023-2030 |
| Key Segments | by Component (Processor, Sensors, Discrete Power, Memory, Others) by Application (Chassis, Safety, Powertrain, Telematics & Infotainment, Body Electronics) by Vehicle Type (Passenger Vehicles, LCV, HCV)) |
| Key Market Players | Analog Devices, Inc., Micron Technology, Renesas Electronics Corp., Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corp., On Semiconductor Corp, Robert Bosch GmbH, ROHM Co., Ltd., STMicroelectronics N.V., Toshiba Corp., Texas Instruments, Inc. and other players |
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Key Takeaway from Automotive Semiconductor Market Study
- The market is undergoing a significant transformation, with the powertrain segment emerging as a dominant force. This sector's rapid growth can be attributed to several factors, including the global shift towards electric and hybrid vehicles, stricter emission regulations, and the increasing consumer demand for energy-efficient and eco-friendly transportation solutions.
- The sensors segment has emerged as a frontrunner in the market, revolutionizing the way vehicles perceive and interact with their environment. This dominance can be attributed to the increasing integration of sensors in modern vehicles, driven by the pursuit of safety, efficiency, and enhanced user experiences.
Recent Developments
- Mahindra, a renowned name in the automotive and technology industry, has recently announced a strategic partnership with NXP Semiconductors, a global leader in secure connectivity solutions for embedded applications. This collaboration represents a significant step forward in both companies' efforts to drive innovation in the automotive sector and beyond.
- Bosch, a global leader in technology and engineering solutions, has taken another significant step in expanding its presence in the semiconductor industry by inaugurating a state-of-the-art semiconductor test center in Malaysia. This cutting-edge facility, strategically located in Penang, is set to play a pivotal role in advancing semiconductor technology and driving innovation within the region.
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Market Dynamics Analysis
The dynamics of the automotive semiconductor market are marked by a complex interplay of drivers, restraints, challenges, and threats that shape its trajectory. On the driver's side, the increasing adoption of advanced technologies in modern vehicles, such as electric and autonomous vehicles, has created a burgeoning demand for semiconductor components. These technologies rely heavily on high-performance chips for tasks like processing data from sensors, enabling connectivity, and supporting AI-driven decision-making. Furthermore, the growing emphasis on safety features, fuel efficiency, and infotainment systems is driving the need for specialized semiconductor solutions. However, this surge in demand faces a set of restraints and challenges. Supply chain disruptions, like the global semiconductor shortage, have exposed vulnerabilities in the industry, leading to production delays and rising costs. Additionally, stringent regulatory requirements for automotive safety and emissions necessitate continuous innovation and investment in semiconductor technology. Cybersecurity threats also loom large as vehicles become more connected, posing a significant challenge. The market, while poised for growth, must navigate these complexities to sustain its momentum and resilience.
Key Regional Developments
North America has been a significant player in the automotive semiconductor market, with the United States being home to several semiconductor manufacturers. The region was witnessing a surge in demand for automotive semiconductors due to the growth of electric vehicles (EVs) and autonomous driving technologies. Europe was at the forefront of adopting electric vehicles and had strong government support for EV infrastructure and incentives. This drove the demand for automotive semiconductors, especially those related to electric powertrains, battery management systems, and advanced driver assistance systems (ADAS). The Asia-Pacific region, particularly China, was a major growth driver in the market. China's rapid urbanization and the emergence of a growing middle class were boosting car sales.
Impact of Recession
The ongoing recession has had a multifaceted impact on the automotive semiconductor market. It has disrupted supply chains, altered consumer preferences, accelerated the adoption of new technologies, reshaped industry priorities, and increased competition. Companies operating in this sector must remain agile and adapt to these changing dynamics to thrive in the post-recession automotive landscape. Established players are facing challenges from new entrants and startups focused on niche areas within the industry. This competition has spurred innovation and driven companies to develop more advanced and cost-effective semiconductor solutions for automotive applications.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Semiconductor Market Segmentation, by Component
8.1 Processor
8.2 Sensors
8.3 Discrete Power
8.4 Memory
8.5 Others
9. Global Automotive Semiconductor Market Segmentation, by Application
9.1 Chassis
9.2 Safety
9.3 Powertrain
9.4 Telematics & Infotainment
9.5 Body Electronics
10. Global Automotive Semiconductor Market Segmentation, by Vehicle type
10.1 Passenger vehicles
10.2 LCV
10.3 HCV
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Robert Bosch GmbH,
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
11.2 Analog Devices, Inc.
12.3 Micron Technology
12.4 Renesas Electronics Corp.
12.5 Infineon Technologies AG
12.6 NXP Semiconductors N.V.
12.7 Renesas Electronics Corp.
12.8 On Semiconductor Corp
12.9 Robert Bosch GmbH
12.10 ROHM Co., Ltd.
12.11 STMicroelectronics N.V.
12.12 Toshiba Corp.
12.13 Texas Instruments, Inc.
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
Browse Adjacent Markets: Automotive Industry Research or Semiconductor Industry Report Reports & Consulting
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