Global Automotive Semiconductor Market 2024-2028
Automotive Semiconductor Market 2024-2028
The automotive semiconductor market is forecasted to grow by USD 31289.7 mn during 2023-2028, accelerating at a CAGR of 9.45% during the forecast period. The report on the automotive semiconductor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of advanced driver assistance system (ADAS) features in vehicles, increasing electrification in vehicles, and governing bodies mandating safety regulation.
Technavio's automotive semiconductor market is segmented as below:
By Application
- Telematics and infotainment
- Powertrain
- Safety
- Body electronics
- Chassis
By Vehicle Type
- Passenger vehicle
- Light commercial vehicle
- Heavy commercial vehicle
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the increasing developments in semi-autonomous and autonomous vehicles as one of the prime reasons driving the automotive semiconductor market growth during the next few years. Also, increased demand for vehicles that operate on alternative fuels and development of remote diagnostics and prognostics for autonomous vehicles will lead to sizable demand in the market.
The report on the automotive semiconductor market covers the following areas:
- Automotive semiconductor market sizing
- Automotive semiconductor market forecast
- Automotive semiconductor market industry analysis
The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive semiconductor market vendors that include Allegro MicroSystems Inc., Analog Devices Inc., BorgWarner Inc., Continental AG, DENSO Corp., Elmos Semiconductor AG, Infineon Technologies AG, Intel Corp., Microchip Technology Inc., Micron Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Texas Instruments Inc., and Toshiba Corp.. Also, the automotive semiconductor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The company presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.