DUBLIN--(BUSINESS WIRE)--The "Automotive Semiconductor Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The automotive semiconductor market is expected to grow at a CAGR of 12% during the forecast period of 2022 to 2030. In spite of the shortage of automotive semiconductors around the world, it is anticipated that the market revenues will surpass $115 billion by 2030 from $36 billion in 2020.
- Delphi Automotive PLC (UK)
- Denso Corp. (Japan)
- Infineon Technologies AG (Germany)
- NXP Semiconductors N.V (Netherlands)
- Renesas Electronics Corp. (Japan)
- Standard Motor Products, Inc. (US)
- STMicroelectronics N.V. (Switzerland)
- Texas Instruments, Inc. (US)
The development of vehicle-based technology, such as the introduction of advanced driver assistance systems (ADAS), telematics, and infotainment, as well as an increased propensity toward the purchase of electric vehicles, contributes to the expansion of the automotive semiconductor market around the world.
Semiconductors are Crucial Element in Automotive
In the automotive industry, a semiconductor is used to control the fail-safe system, manage the functions of the electrical control unit, and create automotive fault tolerant systems. These systems are responsible for handling errors that occur in the vehicle and they communicate this information to the microcontrollers and safety systems. As a result, semiconductors are an essential component of the automotive sector, and the rapid development of the automotive industry is anticipated to be a primary contributor to the expansion of the market throughout the period covered by the forecast.
Semiconductor Application in Enhancing Vehicle Safety Remains as the Key Market Driver
According to a report that was published by the World Health Organization in 2021, about 1.3 million people lose their lives in collisions with motor vehicles. In addition, the number of youths who die as a result of injuries sustained in car accidents is higher. Because of the rise in the number of traffic collisions that have occurred all over the world, there has been a discernible upward trend in the demand for various safety features. These features include parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tyre pressure monitors, airbags, and telematics.
Climatic Conditions are Crucial for Fail-Proof Operations of Semiconductors
The operational failures of automotive semiconductors in extreme climatic conditions such as extreme cold and excessive heat are the primary factor restraining the market for automotive semiconductors. Failures can occur when severe heat is present because semiconductors have a tendency to melt or crack, the resistance increases, and this causes the signal to be too weak. This is the root cause of failures. On the other hand, the resistance drops and the system becomes stable when it is brought to the optimum temperature. In addition to this, excessive cold is not good for semiconductors since it causes them to cease functioning properly.
Chip Shortage Calls for an Effective Demand Analysis for Effective Inventory Management
The increasing scarcity of chips is forcing businesses in the automobile industry to place orders for additional semiconductors that are around 10 to 20 percent higher than what is required. Businesses in all sectors are placing an increasing number of ad hoc orders, frequently at an extremely high average sales price.
By Component (2020-2030; US$ Million)
- Analog IC
- Discrete Power
By Vehicle Type (2020-2030; US$ Million)
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Application (2020-2030; US$ Million)
- Body Electronics
- Telematics & Infotainment
By Fuel Type (2020-2030; US$ Million)
- Electric/Hybrid Electric Vehicle (EV/HEV)
Region Segment (2020-2030; US$ Million)
- North America
- Europe and UK
- Asia Pacific
- South Korea
- Latin America
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Automotive Semiconductor market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Automotive Semiconductor market?
- Which is the largest regional market for Automotive Semiconductor market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Automotive Semiconductor market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Semiconductor market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/7rhpdd
Laura Wood, Senior Press Manager
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