Automotive Semiconductor Market Growth Opportunities, Top Key Players, Industry Outlook and Forecasts 2027
Latest market study on “Automotive Semiconductor Market to 2027 by Component (Optical, Sensors & Actuators, Memory, Microcontrollers, Analog ICs, Logic and Discrete Power Devices); Application (Advanced Driver Assistance Systems, Body Electronics, Infotainment, Powertrain, Safety Systems); Vehicle Type (Passenger, LCV, and HCV) – Global Analysis and Forecast”, the automotive semiconductor market is estimated to reach US$ 76.93 Bn by 2027 from US$ 34.89 Bn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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.
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Key players in the market are collaborating with other providers of Automotive Semiconductor to gain high market share. Some of 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.
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
Sensors & Actuators
Logic and Discrete Power Devices
Global Automotive Semiconductor Market – By Application
Advanced Driver Assistance Systems
Global Automotive Semiconductor Market – By Vehicle Type
Lightweight Commercial Vehicle
Heavyweight Commercial Vehicle
Global Automotive Semiconductor Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM
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