Automotive Semiconductor Market Growth Factors, Applications and Regional Analysis and Key Players by 2027

The global automotive semiconductor market accounted to US$34.89 Bn in 2017 and is expected to grow at a CAGR of 8.3% during the forecast period 2018 – 2027, to account to US$76.93 Bn by 2027. 

The continuous innovations in the field of semiconductors for wide variety of applications in passenger cars, lightweight commercial vehicle (LCV), heavyweight commercial vehicle (HCV) is attracting several automakers globally, which is paving the path for automotive semiconductors market in the current scenario. Additionally, the automotive semiconductor market is experiencing rising number of partnerships between the automakers and semiconductor manufacturers under various projects to boost the automotive semiconductor products.

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The key players operating in the automotive semiconductor market includes ROHM Co., Ltd., NVIDIA Corporation, STMicroelectronics N.V., Texas Instruments Inc., Infineon Technologies AG, Robert Bosch GmbH, Intel Corporation, Renesas Electronics Corporation, NXP Semiconductors N.V., and On semiconductor among others.

Pertaining to the fact of increase in vehicular accidents, the manufacturers of automotive along with their technology partners, has introduced several technologies, which has benefited the industry at a large scale. The demand for modernization of vehicles equipped with advanced technologies have led the technology companies to innovate and design systems/technologies including advanced driver assistance systems, anti- lock braking systems, traction control and adaptive cruise control, and electronic stability control. With an uninterrupted up gradation in existing technologies and introduction of new technologies, the ADAS market has experienced a high growth across the globe. The newer versions of ADAS provided by various companies are capable of recognizing police vehicles, ambulance, taxis, speed restrictions board, and pedestrians. The discerning capability is attracting an increased number of automotive OEMs in the recent scenario, and the adoption of the same is rising substantially. Some of the major companies providing ADAS includes NVIDI Corporation, Toshiba Electronic Devices & Storage Corporation, Robert Bosch GmbH, Continental AG, and among others. In respect to this fact, many several semiconductor companies are regularly coming up with more advance technologies which is successfully attracting the automotive OEMs. The automotive semiconductor market is projected to observe a significant growth in the coming years, with an urge to adopt and deploy advanced driver assistance systems in their vehicles due to heavily propelled by the consumer interest and regulatory norms. For instance, the regulatory authorities in the US and European Union (EU), have mandated the integration of autonomous emergency braking systems along with forward collision warning system in all vehicles by 2020.

The global automotive semiconductor market is segmented on the basis of vehicle type which is fragmented into passenger cars, light commercial, and heavy commercial vehicles. The passenger car is leading the market for automotive semiconductor followed by light commercial vehicle and heavy commercial vehicle. In a current scenario, passenger cars is having a high market share owing with a fact of increase in usage among the individuals and other masses driven by continuous increase in disposable income among the populations in developed countries as well as developing countries. The segment of passenger cars is undertakes substantial technological advancements year on year, as a result of changes in consumer preferences, emergence of new technologies, and governmental rules and regulation for environment safety related to reduction in emission and other factors. Moreover, with an emergence in both electric vehicle and hybrid electric vehicles, these cars requires enormous quantity of several types of semiconductors, which facilitates manufacturers of semiconductor to boost their business, and eventually drive the automotive semiconductor market. In addition to this, an increase in the number of contractual alliances, agreements, or partnerships among the makers of passenger cars and semiconductor manufacturers with a purpose to combine unique semiconductor technologies, is positively impacting on the continuous growth of automotive semiconductor market in a current scenario. For instance, ON Semiconductor and Audi AG has entered into a partnership with an aim to innovate and develop semiconductor technologies for Audi’s upcoming vehicles. Similarly, NVIDIA Corporation and VOLVO partnered to improve the safety of their vehicles using NVIDIA DRIVE. However, heavy commercial vehicles is anticipated to grow at a highest CAGR.

The report segments the global Automotive Semiconductor market as follows:

Global Automotive Semiconductor Market - By Component
  Optical Devices
Sensors & Actuators
Image Sensor
Position Sensor
Temperature Sensor
Pressure Sensor

Global Automotive Semiconductor Market - By Application
Advanced Driver Assistance Systems
Body Electronics
Safety Systems

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Posted by on Monday August 19 2019, 2:45 AM EST. All trademarks acknowledged. Filed under Business Services, Consumer Electronics, Featured Press Release, Semiconductors, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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