Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Automotive Semiconductor Market Size, Share & Trends Analysis Report By Component (Processor, Sensor), By Vehicle Type (Passenger Vehicle, LCV, HCV), By Application, By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive semiconductor market is revving up for a remarkable journey, projected to accelerate to USD 77.76 billion by 2030, driven by a robust Compound Annual Growth Rate (CAGR) of 8.1% from 2023 to 2030, as outlined in the latest industry report.
Key drivers of this accelerated growth include an escalating emphasis on vehicle safety systems and a substantial surge in the adoption of engine control units (ECUs) in modern automobiles. The market is also set to benefit from the transformative impact of emerging technologies such as 5G and the Internet of Things (IoT), which are poised to bolster demand for automotive semiconductors. Additionally, the electric vehicle revolution and the proliferation of assisted driving technologies across all levels are poised to unlock significant growth opportunities in the automotive semiconductor sector.
The electrification of the automotive industry is gathering momentum as the need to reduce carbon emissions takes center stage. Manufacturers, recognizing the potential of electric vehicle business opportunities, are increasingly investing in smart technologies, electronics, and safety systems. These components of electric vehicles incorporate semiconductors equipped with advanced technologies to enhance the functionality of smart electronics. For example, the application of shock 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. As the demand for hybrid and electric vehicles continues to surge, the need for semiconductors is expected to grow substantially during the forecast period.
Government-mandated safety guidelines and regulations are anticipated to be pivotal in driving demand for automotive semiconductors, particularly in the North American and European markets. These regulations, with a special focus on accident avoidance through Advanced Driver-Assistance Systems (ADAS), are expected to propel market growth in these regions. In Asia Pacific, led by China, rapid electric vehicle adoption and strong government support are expected to position it as the fastest-growing automotive market.
However, it's worth noting that the Russia-Ukraine conflict has significantly impacted the European automotive semiconductor market due to supply chain disruptions of critical components. Europe, home to several leading automakers, has experienced shortages and price hikes resulting from these disruptions. For instance, the price of lithium increased by two and a half times in 2021, along with cobalt, nickel, aluminum, and copper, due to the impact of the Russia-Ukraine conflict, according to data from the International Energy Agency (IEA) in 2022.
Companies Mentioned
- Analog Devices, Inc.
- Infineon Technologies AG
- NXP Semiconductors
- Renesas Electronics Corporation
- Robert Bosch GmbH
- ROHM CO., LTD.
- Semiconductor Components Industries, LLC
- STMicroelectronics
- Texas Instruments Incorporated
- TOSHIBA CORPORATION
Highlights from the Automotive Semiconductor Market Report:
- Powering the Future with Discrete Power: In terms of component, the discrete power segment claimed the largest share in 2022, as it plays a pivotal role in enhancing vehicle electrification, connectivity, and shared mobility services.
- Passenger Vehicles Lead the Pack: The passenger vehicle segment emerged as the dominant category in 2022 and is expected to maintain its leadership over the forecast period. The adoption of advanced telematics and infotainment features is expected to propel the growth of this segment.
- Telematics & Infotainment Take Center Stage: In terms of application, the telematics & infotainment segment is projected to witness the highest CAGR over the forecast period and is anticipated to hold a dominant share by the end of the period. The demand for connectivity to mobile devices, smart devices, and IoT devices is set to drive segment growth.
- Asia Pacific Accelerates Forward: The Asia Pacific automotive semiconductor market emerged as the dominant region in 2022 and is forecasted to experience the highest CAGR over the forecast period. The advent of 5G technology is poised to play a pivotal role in the development of autonomous driving technology, further boosting semiconductor adoption in the region.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 101 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $43.26 Billion |
| Forecasted Market Value (USD) by 2030 | $77.76 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Semiconductor Market - Industry Outlook
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Market Analysis Tools
3.4.1. Industry Analysis - Porter's Five Forces Analysis
3.4.2. Macroeconomic Analysis
Chapter 4. Automotive Semiconductor Market: Component Outlook
Chapter 5. Automotive Semiconductor: Vehicle Type Outlook
Chapter 6. Automotive Semiconductor: Application Outlook
Chapter 7. Automotive Semiconductor: Regional Outlook 2022 & 2030
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/sbg2wn
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