SAN FRANCISCO, October 18, 2021 / PRNewswire / – Global Automotive Semiconductor Market Size Expected to reach $ 63.92 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected increase at a CAGR of 6.2% from 2021 to 2028. The growing attention to vehicle safety systems and a significant increase in the adoption of engine control units (ECUs) in modern automobiles is expected to drive the demand for automotive semiconductors. In addition, emerging technologies such as 5G and IoT are expected to play a key role in increasing the demand for automotive semiconductors. In addition, electric vehicles and all levels of driver assistance technologies are expected to create significant growth opportunities over the next eight years.
Main lessons and findings:
- In 2020, the other components segment, which includes analog integrated circuits and logic integrated circuits, accounted for the highest share, as logic integrated circuits are widely used in navigation and infotainment systems.
- In terms of vehicle type, passenger vehicles have emerged as the dominant segment in 2020 and are expected to retain their dominance during the forecast period.
- Telematics and infotainment segment is expected to grow at the highest CAGR of over 9.0% during the forecast period and is expected to hold a dominant share by the end of the forecast period.
- The Asia Pacific the market has emerged as the dominant region in 2020 and is expected to register the highest CAGR during the forecast period
Read the 101-page market research report, “Automotive Semiconductor Market Size, Share and Trend Analysis Report by Component (Processor, Sensor, Memory), Vehicle Type (Passenger Vehicle, LCV, HCV), by Application, by Region and segment forecast, 2021-2028“, by Grand View Research.
Electrification in the automotive industry is developing rapidly due to the growing need to reduce carbon emissions. Recognizing the importance of business opportunities for electric vehicles, several manufacturers are increasingly investing in smart technologies, electronics and security systems. Such electric vehicle components include semiconductors equipped with advanced technologies to enhance the functionality of intelligent electronics. For example, the application of impact sensors, MEMS accelerometers, MEMS gyroscopes, inertial sensors, tilt sensors and MEMS microphones for rollover detection, electronic braking, dynamic head lighting, inertial navigation and airbag safety systems. Therefore, as the demand for hybrid and electric vehicles increases, the need for semiconductors is expected to increase during the forecast period.
The outbreak of the COVID-19 pandemic has hampered the overall business scenario in 2020, and the economy is expected to continue to suffer the consequences over the next several years. The market has been negatively impacted as major auto manufacturing units have been shut down and production completely halted in response to lockdown measures across the world. In addition, the pandemic has caused an unrealistic disruption of the production network and supply chain. This has influenced R&D and capital investments. The market experienced a substantial decline, nearly -7.0%, in 2020. However, the impact of the pandemic has started to ease with the reduction in positive cases and the launch of vaccination campaigns in several countries. . As a result, governments around the world have relaxed lockdowns and restrictions, prompting a restart of manufacturing operations in the automotive semiconductor industry.
Government-imposed safety guidelines and regulations are expected to play a key role in stimulating demand for semiconductors in North American and European markets. For example, a particular focus on accident prevention through ADAS is expected to help drive market growth in countries in these regions. The Asia Pacific region, led by China, is expected to become the fastest growing market due to the rapid adoption of electric vehicles and strong government support.
Grand View Research has segmented the global automotive semiconductor market on the basis of component, vehicle type, application, and region:
- Automotive Semiconductor Components Outlook (Revenue, USD Million, 2017 – 2028)
- Quiet power
- Automotive Semiconductor Vehicle Type Outlook (Revenue, USD Million, 2017 – 2028)
- Tourism vehicle
- Light commercial vehicle (LCV)
- Heavy commercial (HCV)
- Automotive Semiconductor Application Outlook (Revenue, USD Million, 2017 – 2028)
- Telematics and infotainment
- Electronic Body
- Regional Automotive Semiconductor Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (AEM)
List of key players in the automotive semiconductor market
- Analog devices, Inc.
- Infineon Technologies AG
- NXP semiconductors
- Renesas electronics company
- Robert Bosch GmbH
- ROHM CO., LTD.
- Semiconductor Component Industries, LLC
- Texas Instruments Incorporated
- TOSHIBA CORPORATION
Discover other studies related to technological advancements in the automotive sector, conducted by Grand View Research:
- Automotive Electronics Market – The global automotive electronics market size has been estimated to be $ 217.86 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2021 to 2028. The increasing integration and implementation of advanced safety systems such as automatic emergency braking, airbags , parking assistance systems and lane departure warning for decrease in road accidents are expected to boost demand during the forecast period.
- Automotive Infotainment Market – The Global Automotive Infotainment Market Size has been estimated to be $ 6.98 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2021 to 2028. The COVID-19 pandemic has negatively affected the entire auto industry, resulting in a subsequent decline in the market growth due to reduced new needs and reduced automotive sales.
- Automotive Digital Cockpit Market – The global Automotive Digital Cockpit Market size has been estimated to be $ 19.8 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028. The Covid-19 pandemic has affected the entire automotive industry, resulting in further decline in the growth of the market as a result of low auto sales and new demands.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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