According to a recent report published by Allied Market Research, titled, “Automotive Semiconductor Market by Component, Vehicle Type, Propulsion Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global automotive semiconductor was valued at $37.99 billion in 2020, and is projected to reach $113.94 billion by 2030, registering a CAGR of 11.8% from 2021 to 2030.
Download Report (254 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/14846
Semiconductors are special type of electronic components that possess the property to transfer electricity through them under certain conditions. Semiconductors are used in vehicles to ensure that the associated component operates efficiently in all conditions. Semiconductors used in automobiles are made of silicon and germanium as the basic components that are essential for better working of automotive electronics.
Semiconductors installed in vehicles helps in controlling numerous operations such as controlling the air conditioner system of the vehicle as well as ensuring the safety of the vehicle. Moreover, the advancement in vehicle based technology such as introduction of advanced driver assistance system (ADAS), telematics & infotainment followed by the increased inclination toward adoption of electric vehicles supplements the growth of the automotive semiconductor market across the globe.
Rapid developments in the automotive industry, surge in demand for safety features in automobiles, and intervention of innovative technologies for advanced user interface (UI) drive the growth of the global automotive semiconductor market. However, operational failures in extreme climatic conditions and high initial cost & complex structure hinder the market growth. On the other hand, increase in demand for electric and hybrid vehicles and technological advancements and innovation in advanced driver assistance system (ADAS) technology present new opportunities in the coming years.
Covid-19 Scenario
- Manufacturing facilities in the electronics and semiconductors industry have been shut down due to lockdown measures, lack of sufficient workforce, and disruptions in supply chain across the globe. This led to reduced production volumes of semiconductors that can be used in the automotive sector.
- The demand of various components such as processors, sensors, and others in production of vehicles such as passenger cars, light commercial vehicles, and heavy commercial vehicles decreased significantly due to stoppage of production activities during the lockdown. However, the demand is expected to recover post-lockdown.
- Market players have been revising their business strategies to ensure business continuity and adopting quick response strategies to maintain the supply chain.
Interested to Procure the Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/14846
The passenger car segment to continue its lead position throughout the forecast period
Based on vehicle type, the passenger car segment contributed to the highest share in 2020, accounting for nearly four-fifths of the global automotive semiconductor market, and is estimated to continue its lead position throughout the forecast period. This is attributed to increased sales volume of passenger cars across the globe. However, the light commercial vehicle segment is estimated to manifest the highest CAGR of 13.9% from 2021 to 2030. This is due to increased application of advanced technologies in LCVs worldwide.
The telematics and infotainment segment to maintain its dominance during the forecast period
Based on application, the telematics and infotainment segment accounted for the highest share in 2020, contributed to nearly one-third of the global automotive semiconductor market, and is expected to maintain its dominance during the forecast period. Moreover, this segment is estimated to portray the fastest CAGR of 14.0% from 2021 to 2030. This is due to increased utilization in vehicles with changes in user preferences. The research also analyzes the segments including powertrain, safety, chassis, and body electronics.
Procure the research report at: https://www.alliedmarketresearch.com/automotive-semiconductor-market/purchase-options
Key Findings Of The Study
- By component, the sensor segment is expected to register a significant growth during the forecast period.
- Depending on vehicle type, the light commercial vehicle segment is anticipated to exhibit significant growth in the near future.
- On the basis of propulsion type, the electric segment is projected to lead the global automotive semiconductor industry size owing to higher CAGR.
- On the basis of application, the telematics & infotainment segment is projected to lead the global automotive semiconductor market owing to higher CAGR.
- Asia-Pacific is anticipated to register the highest CAGR.
The key players analyzed in this automotive semiconductor market report are Analog Devices, Inc., Infineon Technologies AG, Micron Technology, NXP Semiconductors N.V., On Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co., Ltd., STMicroelectronics N.V. and Texas Instruments, Inc.