Automotive Semiconductor Market Size, Share, and Analysis, By Component (Processor, Analog IC, Discrete Power Device, Sensor, and Others), By Vehicle Type (Passenger Car, LCV, HCV, and Others), By Fuel Type (Gasoline, Diesel, EV/HEV), By Application (Powertrain, Safety, Chassis, Telematics & Infotainment, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Automotive Semiconductor Market Size, Share, and Analysis, By Component (Processor, Analog IC, Discrete Power Device, Sensor, and Others), By Vehicle Type (Passenger Car, LCV, HCV, and Others), By Fuel Type (Gasoline, Diesel, EV/HEV), By Application (Powertrain, Safety, Chassis, Telematics & Infotainment, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Automotive Semiconductor Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 61.4 billion and is projected to reach USD 179 billion by the completion of 2034.
Automotive semiconductor is an essential component in contemporary vehicles, which serves as the central processing unit for electronic systems installed within vehicles. These semiconductors are often integrated into microcontrollers and have a significance in providing functionalities such as engine control, safety features, and infotainment. Additionally, they act as a neurological hub, which is used to process data and enable seamless connection between various vehicle components. This electronic intelligence is important for driving modern automotive innovations, thereby enabling technologies that improve vehicle performance, efficiency, and its safety. Moreover, the need for complex automotive semiconductors is rising with the developing technology, which is encouraging the production of connected and smart automobiles. Therefore, these semiconductors serve as a major catalyst, which is used to power the sophisticated electronic ecosystems of automobiles and improves the driving experience.
MARKET HIGHLIGHTS
Automotive Semiconductor Market is projected to reach USD 179 billion over the forecast period, owing to the growing integration of advanced electronics in vehicles. The surge in demand for semiconductors within the automotive sector is attributed to the rising adoption of electric vehicles and autonomous driving technologies. Moreover, continuous developments in safety systems, infotainment, and vehicle efficiency contribute to the expanding market ecosystem. This shift towards smart and connected vehicles intensifies the requirement for advanced semiconductors, which further drives innovation in the industry. Additionally, the global automotive semiconductor market experience intense competition among major players that are striving to address the demands of automakers. Furthermore, the advent of modern technologies such as artificial intelligence, machine learning, and 5G connectivity further pushes the growth of the market. Therefore, with a focus on improving performance, along with safety and driving experiences, the automotive semiconductor market will witness continuous growth and technological developments.
Automotive Semiconductor Market Segments:
- By Component
- Processor
- Analog IC
- Discrete Power Device
- Sensor
- Others
- By Vehicle Type
- Passenger Car
- LCV
- HCV
- Others
- By Fuel Type
- Gasoline
- Diesel
- EV/HEV
- By Application
- Powertrain
- Safety
- Chassis
- Telematics & Infotainment
- Others
MARKET DYNAMICS
Growth Drivers
Rising Popularity of Electric Vehicles (EVs) Generates Growth Opportunities
Innovations in Self-Driving Technologies will Result in Market Expansion
Restraint
Supply Chain Disruptions to Prevent Industry Growth
Key Players
- Intel Corporation
- Qualcomm Technologies, Inc.
- NVIDIA Corporation
- Texas Instruments Incorporated
- NXP Semiconductors N.V.
- STMicroelectronics N.V.
- Infineon Technologies AG
- Renesas Electronics Corporation
- ON Semiconductor Corporation
- Analog Devices, Inc.
- Microchip Technology Inc.
- ROHM Semiconductor
- Cypress Semiconductor Corporation
- Maxim Integrated
- Samsung Electronics Co., Ltd.
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
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