The automotive semiconductor market is driven by the increasing
demand for advanced driver-assistance systems (ADAS), electric
vehicles (EVs), and infotainment systems. Growing vehicle
electrification and the integration of IoT technologies also propel
market growth. However, restraints include high development costs,
supply chain disruptions, and the complex regulatory environment.
Additionally, the need for high reliability and safety standards
poses challenges to semiconductor manufacturers.
LEWES, Del., July 30, 2024 /PRNewswire/ -- The Global
Automotive Semiconductor Market is projected to grow at a
CAGR of 5.83% from 2024 to 2031, according to a new report
published by Verified Market Research®. The report
reveals that the market was valued at USD
54.85 Billion in 2024 and is expected to reach
USD 82.82 Billion by the end
of the forecast period.
Download PDF Brochure:
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Browse in-depth TOC on "Global Automotive
Semiconductor Market"
202 - Pages
126 – Tables
37 –
Figures
Scope Of The Report
REPORT
ATTRIBUTES
|
DETAILS
|
STUDY PERIOD
|
2021-2031
|
BASE YEAR
|
2024
|
FORECAST
PERIOD
|
2024-2031
|
HISTORICAL
PERIOD
|
2021-2023
|
UNIT
|
Value (USD
Billion)
|
KEY COMPANIES
PROFILED
|
Infineon Technologies
AG, Texas Instruments Incorporated, NXP Semiconductors NV, Renesas
Electronics Corporation, STMicroelectronics NV, ON Semiconductor
Corporation, Robert Bosch GmbH, Analog Devices,Inc., Toshiba
Corporation, Microchip Technology Inc.
|
SEGMENTS
COVERED
|
- By Product
- By Vehicle Type
- By Geography
|
CUSTOMIZATION
SCOPE
|
Free report
customization (equivalent to up to 4 analysts' working days) with
purchase. Addition or alteration to country, regional & segment
scope.
|
Automotive Semiconductor Market Overview
ADAS and Autonomous Vehicles: The automotive
semiconductor market is expanding rapidly as a result of the
increasing demand for autonomous vehicles and advanced
driver-assistance systems (ADAS). The demand for advanced
semiconductors that can process vast quantities of data in real
time is increasing as OEMs strive to achieve higher levels of
vehicle automation. This trend not only increases semiconductor
sales but also fosters innovation, thereby providing businesses
with new opportunities to provide cutting-edge technology.
Electrification of Vehicles: Electrification is having a
substantial impact on the automotive semiconductor market, as it is
revolutionizing the automotive industry. High-performance
semiconductors are required for battery management, power
electronics, and motor controllers due to the significant increase
in the adoption of electric vehicles (EVs). This transition
expedites the consumption of semiconductors, allowing manufacturers
to capitalize on the increasing demand for electronic components
that are both reliable and efficient.
Integration of IoT: The automotive semiconductor market
is propelled forward by the integration of Internet of Things (IoT)
technology into vehicles, which improves connectivity. In order to
facilitate features such as real-time diagnostics, predictive
maintenance, and improved infotainment systems, contemporary
vehicles necessitate sophisticated sensors, processors, and
communication devices. This growing dependence on the Internet of
Things (IoT) fuels market expansion by increasing the demand for
semiconductors.
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High Development Costs: The automotive semiconductor
industry faces substantial obstacles due to its exorbitant
development and production expenses. State-of-the-art manufacturing
facilities, substantial R&D investment, and rigorous quality
control processes are all necessary for the development of advanced
semiconductors. These financial obstacles can impede the entry of
lesser companies into the market and impede innovation, thereby
impacting the overall growth of the market.
Supply Chain Disruptions: The automotive semiconductor
market is significantly affected by supply chain disruptions, which
are further exacerbated by global events like the COVID-19
pandemic. Production delays and increased costs are the result of
logistical challenges and raw material shortages. Automotive
manufacturers may experience substantial setbacks as a result of
these disruptions, which can impede their capacity to satisfy
consumer demand and impede market expansion.
Regulatory Challenges: The automotive semiconductor
market is subject to rigorous regulatory requirements that are
designed to guarantee reliability and safety. Creating obstacles
for semiconductor manufacturers, compliance with diverse and
evolving global standards necessitates a substantial investment of
time and resources. These regulatory challenges can affect market
dynamics and profitability by delaying product launches and
increasing operational costs.
Geographic Dominance:
The Asia-Pacific region is the
dominant geographical region in the automotive semiconductor
market, predominantly due to the presence of prominent
semiconductor manufacturers and robust automotive production in
countries such as China,
Japan, and South Korea. North
America and Europe also
maintain substantial market shares, which are attributed to their
early adoption of sophisticated technologies and robust R&D
capabilities. These regions' market positions are further
strengthened by the government's support for innovation and the
established automotive industries.
Automotive Semiconductor Market Key Players Shaping the
Future
Major players, including Infineon Technologies AG, Texas
Instruments Incorporated, NXP Semiconductors NV, Renesas
Electronics Corporation, STMicroelectronics NV, ON Semiconductor
Corporation. and more, play a pivotal role in shaping the
future of the Automotive Semiconductor Market. Financial
statements, product benchmarking, and SWOT analysis provide
valuable insights into the industry's key players.
Automotive Semiconductor Market Segment Analysis
Based on the research, Verified Market Research® has
segmented the global Automotive Semiconductor Market into Product,
Vehicle Type, And Geography.
To get market data, market insights, and a comprehensive
analysis of the Global Automotive Semiconductor Market, please
Contact Verified Market Research®.
- Automotive Semiconductor Market, by Product
- Analogue
- Mixed Signal
- Semiconductors
- Logic
- Automotive Semiconductor Market, by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Plug-In Hybrid Electric Vehicles
- Automotive Semiconductor Market, by Geography
- North America
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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