Semiconductor Chips For Automotive Market

The global Semiconductor Chips For Automotive Market is valued at USD 46.7 Billion in 2023 and is projected to reach a value of USD 132.7 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 10.0% between 2024 and 2032.

Definition and Overview

The semiconductor automotive chips are used for monitoring and controlling of various functions in an automobile. Such chips use algorithms to solve various tasks and makes the driving experience much easier for the driver. These are also used in the electrical circuits control everything from in-car entertainment systems to battery management to driver assistance.

The global Semiconductor Chips For Automotive market is segmented based on by Type, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Semiconductor Chips For Automotive in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028.

Global Semiconductor Chips For Automotive Market: COVID-19 Impact Analysis

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o Impact Assessment of COVID-19 Pandemic

o Pre & Post COVID-19 Market Size

o Qualitative analysis on the short term & long term impact of COVID-19 on the market

o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

The increasing demand ADAS in vehicles along with smart parking systems are anticipated to augment the growth of Semiconductor Chips For Automotive market within the forecast period. The increasing adoption of ADAS owing to the advancement in technologies such as software algorithms, sensors, cameras, processors, and mapping that needs a chip for its integration with each other has improved the applicability of ADAS in vehicles and is expected to fuel the growth of the Semiconductor Chips For Automotive market in the years to come.

Furthermore, the increasing awareness shared connectivity & mobility and increasing autonomous vehicle demand is also expected to augment the growth of the Semiconductor Chips For Automotive market.

The increase in the overall cost of the vehicle and design complexities is anticipated to restrain the growth of the Semiconductor Chips For Automotive market within the forecast period.

Market Segmentation

Type Analysis: Preview

On the basis of Type, the market is segmented into Analog Ics, Microcontrollers & Microprocessors, Memory,Others. Analog ICs held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Analog ICs in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Telematics & Infotainment, Body Electronics, Safety,Others. Telematics & Infotainment accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Regional Analysis Preview

On the basis of region, the global Semiconductor Chips For Automotive market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Semiconductor Chips For Automotive market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market.

Competitive Landscape

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Semiconductor Chips For Automotive market are Texas Instruments Inc., NXP Semiconductors, STMicroelectronics N.V., Microchip Technology Inc., Infineon Technologies AG, NVIDIA CORPORATION, Micron Technology, Inc., ON Semiconductor, Renesas Electronics, Maxim Integrated Products, Inc. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.