Dublin, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The "Global Automotive Semiconductor Market By Application, By Vehicle Type, By Component, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Semiconductor Market size is expected to reach $60.5 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
Semiconductors are integral components in new-age automobiles for various functions like electrification, safety, and communication & connectivity. With the increase in acceptance and popularity of electric and hybrid vehicles, the automotive industry is expected to witness massive demand for semiconductors. Also, semiconductors available in the form of power devices and solar cells help develop the required charging infrastructure which is essential to make the concept of electric vehicles feasible and popular.
With the increasing demand for automation and advanced features in the automotive industry, semiconductors will be highly integrated into onboard systems for different applications. As the concept of autonomous is slowly emerging worldwide, highly advanced semiconductor devices play a crucial role in technological advancements occurring in the automotive industry. The focus of automakers is rapidly shifting to comfort, productivity, and interiors with the significance is placed more on rider experience than driving experience.
The growth of the automotive semiconductor market is expected to witness bright prospects due to the surge in demand for electronic content per car. One of the major catalysts for the market growth includes an upsurge in the penetration of electronic parts in high-end to mass-produced cars. Moreover, the proliferation of connected cars, automotive safety systems, infotainment systems, and fuel efficiency standards are directly proportional to the growth of the automotive semiconductor market.
COVID-19 Impact Analysis
The global pandemic and measures taken to control the transmission of the virus have created massive uncertainty in businesses, thereby adversely impacting the industries around the globe. Due to the pandemic, many industries faced massive revenue loss and automobile semiconductor is no exception. Sales of semiconductors for automotive applications are largely based on the degree of vehicle electrification and digitization and vehicle sales volume. The sales of automobiles have been drastically declined due to the disruption caused by the global pandemic. The growth of the automotive semiconductor market is hampered by the decreasing sales of commercial and passenger vehicles. The disruption in international export and import shipments proportionately delayed the raw materials and production supplies in the electric vehicles market.
Market Growth Factors:
Increased demand for ADAS
The sales of ADAS (Advanced Driver Assistance Systems) is expected to increase in upcoming years due to the increase in demand for safety features that aim to prevent accidents and collisions by providing technologies that notify the driver regarding possible issues and to prevent collisions by installing safeguards and taking complete control over the vehicle. Semiconductors are highly used in ADAS with an aim to improve its functionality. In addition, the thriving automotive sector and innovative features in the luxury sector have increased the number of sensors being embedded into automobiles to offer more sophisticated services to consumers.
The surge in adoption and popularity of EVs
The growth of automotive semiconductors is expected to be driven by the rise in the adoption of sustainable alternative fuel vehicles such as hybrid electric vehicles. As per the ICCT, worldwide EV production crossed above 2 million per year in 2019 and sold above 80,000 EVs per year. Moreover, semiconductors are making EVs more efficient, secure, and interactive, which are critical aspects when human life is at risk. They are also essential for batteries and power trains in an electric vehicle.
Market Restraining Factor:
COVID-19 pandemic caused massive disruption in the supply chain of semiconductor
The production of the domestic car has been drastically declined because of chip storage worldwide. Almost every domestic carmaker is witnessing some disruptions because of the current shortage of semiconductors, a major element that is utilized across new-age vehicles. The COVID-19 pandemic and resulting lockdown measures have compelled automakers to shut down their manufacturing plants across many countries, thereby drastically reducing the production capabilities.
Application Outlook
Based on Application, the market is segmented into Body Electronics, Powertrain, Safety, Telematics & Infotainment, Chassis, and Others. The telematics & infotainment segment is expected to exhibit the highest growth rate throughout the forecast years. The automakers are encouraged to use more semiconductor elements for telematics and infotainment and safety applications with the rise in competition to offer superior comfort and convenience to their customers.
Vehicle Type Outlook
Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. The light commercial vehicle segment is expected to showcase a prominent growth rate during the forecasting period, hence creating lucrative growth opportunities for the automotive semiconductor market. The growth and demand for light and heavy commercial vehicles are expected to be fueled due to the fast pace of urbanization, surging mining & e-commerce activities, and regulations for purchasing commercial vehicles.
Component Outlook
Based on Component, the market is segmented into Discrete Power, Processor, Sensor, Memory, and Others. The demand for semiconductors in the automotive market continues to increase across all component types. These components play a crucial role in improving connectivity, vehicle electrification, and shared mobility services. Modern vehicles are integrated with the automotive chip which alerts the driver with a warning and assists in making informed decisions during an accident or a crash. Navigation and infotainment systems are extremely using logic ICs.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe is expected to witness the second-highest growth rate during the forecasting period. The growth of the regional market is fueled by the surge in demand for electric vehicles. Automakers are increasing their focus on developing, and innovating autonomous vehicles which have encouraged the majority of the customer to visit key automotive manufacturing nations. Due to the high demand for smart & completely autonomous cars and consumers' attraction, semiconductors is expected to play a vital role in bringing innovations in the automotive market over forthcoming years.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Texas Instruments, Inc. is the major forerunners in the Automotive Semiconductor Market. Companies such as ON Semiconductor Corporation, Rohm Semiconductors Co., Ltd., STMicroelectronics N.V. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NXP Semiconductors N.V., Infineon Technologies AG, Robert Bosch GmbH, Texas Instruments, Inc., Toshiba Corporation, Analog Devices, Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Rohm Semiconductors Co., Ltd., and STMicroelectronics N.V.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jan - 2021, Oct) Leading Players
Chapter 4. Global Automotive Semiconductor Market by Application
4.1 Global Body Electronics Automotive Semiconductor Market by Region
4.2 Global Powertrain Automotive Semiconductor Market by Region
4.3 Global Safety Automotive Semiconductor Market by Region
4.4 Global Telematics & Infotainment Automotive Semiconductor Market by Region
4.5 Global Chassis Automotive Semiconductor Market by Region
4.6 Global Other Application Automotive Semiconductor Market by Region
Chapter 5. Global Automotive Semiconductor Market by Vehicle Type
5.1 Global Automotive Semiconductor Passenger Cars Market by Region
5.2 Global Automotive Semiconductor Light Commercial Vehicles Market by Region
5.3 Global Automotive Semiconductor Heavy Commercial Vehicles Market by Region
Chapter 6. Global Automotive Semiconductor Market by Component
6.1 Global Discrete Power Automotive Semiconductor Market by Region
6.2 Global Processor Automotive Semiconductor Market by Region
6.3 Global Sensor Automotive Semiconductor Market by Region
6.4 Global Memory Automotive Semiconductor Market by Region
6.5 Global Others Automotive Semiconductor Market by Region
Chapter 7. Global Automotive Semiconductor Market by Region
Chapter 8. Company Profiles
8.1 NXP Semiconductors N.V.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 239
8.1.5 Research & Development Expense
8.1.6 Recent strategies and developments:
8.1.6.1 Partnerships, Collaborations, and Agreements:
8.1.6.2 Product Launches and Product Expansions:
8.1.7 SWOT Analysis
8.2 Infineon Technologies AG
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Acquisitions and Mergers:
8.2.5.2 Product Launches and Product Expansions:
8.2.5.3 Geographical Expansions:
8.2.6 SWOT Analysis
8.3 Robert Bosch GmbH
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.5.2 Geographical Expansions:
8.3.6 SWOT Analysis
8.4 Texas Instruments, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Acquisitions and Mergers:
8.4.5.2 Product Launches and Product Expansions:
8.4.6 SWOT Analysis
8.5 Toshiba Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research and Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.5.6 SWOT Analysis
8.6 Analog Devices, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Acquisitions and Mergers:
8.6.6 SWOT Analysis
8.7 Renesas Electronics Corporation
8.7.1 Company Overview
8.7.2 271
8.7.3 Financial Analysis
8.7.4 Segmental and Regional Analysis
8.7.5 Research & Development Expense
8.7.6 Recent strategies and developments:
8.7.6.1 Partnerships, Collaborations, and Agreements:
8.7.6.2 Acquisition and Mergers:
8.7.6.3 Product Launches and Product Expansions:
8.8 ON Semiconductor Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Acquisitions and Mergers:
8.8.5.3 Product Launches and Product Expansions:
8.9 Rohm Semiconductors Co., Ltd.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Product Launches and Product Expansions:
8.10. STMicroelectronics N.V.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
8.10.5.2 Acquisitions and Mergers:
8.10.5.3 Product Launches and Product Expansions:
8.10.6 SWOT Analysis
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