Global Automotive Semiconductor Market Report
Global Automotive Semiconductor Market by Component (Processor, Analog IC, Discrete Power, Sensor, Memory, and Others), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), Propulsion Type (Internal Combustion Engine, and Electric Engine), Application (Powertrain, Safety, Body Electronics, Chassis, and Telematics & Infotainment), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Automotive Semiconductor Overview
Driver assistance systems require high-performance and reliable semiconductors for functions such as sensor fusion, power management, and communication. The rising trend of connected cars, as well as the introduction of 5G technology in the automotive industry, are boosting demand for automotive semiconductors. Therefore, semiconductor companies are investing extensively in R&D to create innovative solutions that meet the changing needs of the automobile industry. Governments throughout the world are enacting stringent policies to limit carbon emissions and promote the use of electric vehicles. This trend is driving the adoption of advanced semiconductor technologies like silicon carbide and gallium nitride, which provide higher efficiency and power density than classic silicon-based semiconductors.
Global Automotive Semiconductor Market Analysis
The global automotive semiconductor market size was $68,375.7 million in 2022 and is predicted to grow with a CAGR of 9.4%, by generating a revenue of $160,260.8 million by 2032.
Source: Research Dive Analysis
COVID-19 Impact on Global Automotive Semiconductor Market
The coronavirus outbreak has led to several uncertainties and economic crises owing to lockdowns imposed across several countries. The automotive semiconductor market has experienced negative impact during the COVID-19 pandemic due to global shortage of semiconductor chips and drastic decline in automotive vehicle sales. For instance, the demand for passenger cars declined during the pandemic along with the closure of automotive vehicle manufacturing plants. The pandemic led to disruptions in global supply chains, affecting the production and availability of automotive semiconductors. Many semiconductor manufacturing facilities faced temporary closures or reduced operations due to lockdowns and social distancing measures, resulting in a shortage of components.
Post-pandemic, the demand for semiconductors in the automotive industry has increased rapidly owing to rising sales of automotive vehicles. The automotive semiconductor industry has paced up innovation and ramped up their production post-pandemic to meet the rising demand for semiconductors from the end-use industries.
Growing Demand for Advanced Safety, Comfort, and Convenience is Projected to Drive the Market Growth
The demand for safety features, such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is experiencing an upward trend, owing to increase in number of road accidents worldwide. Automotive semiconductors are a major component used in numerous advance driver assistance systems (ADAS) technologies, which helps ADAS systems perform efficiently and detect & classify objects on the path of vehicle, and accordingly alert the driver of the nearby surroundings and road conditions. In addition, these systems can also automatically decelerate or stop the vehicle depending on the road conditions based on the calculations made through semiconductors & associated components. Companies operating in the automobile sector are developing and introducing safety features to meet the needs of the customers. For instance, in February 2020, HELLA, a company that manufactures cutting-edge lighting and electronics components announced the production plan for the latest 77 GHz radar technology. As a crucial application of complementary metal oxide semiconductors (CMOS) radar, automotive radar is evolving as a key technology supporting the functioning of smart and autonomous features in modern vehicles, for instance, reducing driver stress, relieving drivers from repetitive tasks, and adding life-saving automatic interventions. These benefits are expected to increase the demand for automotive semiconductors during the forecast years.
To know more about global automotive semiconductor market drivers, get in touch with our analysts here.
Rising Overall Vehicle Cost is Considered to Be the Major Restraint for the Market Growth
The rising overall cost of automobiles due to the deployment of cutting-edge car electronics, is expected to hamper the industry growth. While the integration of automotive semiconductors allows for the improvement of new features and multiplied safety in automobiles, it also raises the overall cost of the vehicle. The move to electric and hybrid vehicles needs the addition of new components and functions such as batteries, electric-powered drivetrains, and charging infrastructure. The adoption of automobile semiconductors is important for allowing various functionalities such as advanced driver assistance systems (ADAS), infotainment systems, connection features, and independent driving capabilities, in addition to electrification. These modern-day features and technologies mostly involve the usage of complicated semiconductors, which would possibly increase overall costs. Automakers face the challenge of balancing the integration of advanced semiconductors with cost management to maintain competitive pricing as the demand for these technologies increases. The increased cost of vehicles due to the adoption of automotive semiconductors and vehicle electrification can potentially impact consumer affordability and market demand. High vehicle costs may deter some consumers from purchasing advanced vehicles, leading to slower adoption rates and potentially hampering automotive semiconductor market growth.
Increase in Technological Advancements and Innovations to Drive Excellent Opportunities
In 2021, the semiconductor industry shipped a record 1.15 trillion chips, with global sales exceeding half a trillion dollars, and thousands of new chip designs entering the market. Companies are offering a wider range of features and technologies in their vehicles to provide comfort to consumers and increase sales. In addition, technological advancements in electronic components, such as automotive radar, Lidar, and smartphones, which are supported by wireless communication & cloud systems provides better surrounding information and improves the safety of the driver. The dynamic advancements in technology, which uses automotive semiconductors such as intelligent parking assist systems that help cars to park smoothly without the involvement of a guide to give directions and emergency brakes at the sign of danger, have increased the sales of the automobile industry. Thus, technological advancements in advanced driver assistance systems are anticipated to provide a remarkable growth opportunity for the key players operating in the automotive semiconductor market. For instance, a novel semiconductor chip architecture, known as a ‘multi-die system’ or ‘chipset-based design,’ will be critical in fulfilling the rising demand for computing power in semiconductors.
To know more about global automotive semiconductor market opportunities, get in touch with our analysts here.
Global Automotive Semiconductor Market Size, by Component, 2022
Source: Research Dive Analysis
The processor sub-segment accounted for the highest market share in 2022. Processors are frequently utilized to control different car components and coordinate with different electronic parts to perform correctly in various conditions. Low-end components that the CPU controls include lighting and sensors, whilst high-end components include those utilized in entertainment, navigation, autonomous driving systems, and other systems. The semiconductor category that is especially created and used as central processing units (CPUs) or microprocessors in automotive applications is referred to as the processor within the automotive semiconductor market. The computation and decision-making abilities of automobile systems and features are heavily dependent on these processors. Automotive processors often include built-in interfaces and protocols for seamless connectivity with other components within the vehicle, such as sensors, actuators, displays, and communication modules. They enable efficient data exchange and communication between different systems in the vehicle. In order to enable quick and precise decision-making, processors in automotive applications are expected to analyze data in real-time.
Global Automotive Semiconductor Market Share, by Vehicle Type, 2022
Source: Research Dive Analysis
The passenger car sub-segment accounted for the highest market share in 2022. Passenger vehicles are the most used mode of transportation. The advancement of IoT and its adoption in electronics have promoted the automotive market to equip passenger cars with semiconductor technology. In addition, rise in need for passenger vehicles leads to an increase in demand for the requirement of automotive semiconductor used in passenger cars. Numerous companies are offering in-vehicle entertainment systems for rear seat passengers. The installation of such electronics for driver assistance entertainment and other purposes surges the growth of the automotive semiconductor market. In order to increase passenger comfort and convenience, passenger cars are equipped with several features. These include connectivity features like Bluetooth and USB ports, air conditioning, power windows and locks, movable seats, infotainment systems, and advanced driver assistance systems (ADAS).
Global Automotive Semiconductor Market Analysis, by Propulsion Type, 2022
Source: Research Dive Analysis
The internal combustion engine sub-segment accounted for the highest market share in 2022. The internal combustion engine is a type of engine in which fuel is burned in a restricted region known as a combustion chamber. By increasing fuel efficiency and decreasing fuel waste, this superb management also encourages effective power delivery. The driver facilitates the installation of pollution control tools such as catalytic converters and exhaust gas recirculation (EGR) systems in order to guarantee compliance with strict emissions laws. With the help of semiconductors, functions like telematics, over-the-air upgrades, and improved car diagnostics are supported, enabling smooth access to external networks. Scientists and engineers have also looked at alternative fuels for internal combustion engines. One such fuel is natural gas, which has a lower carbon content than petrol or diesel. Liquefied natural gas and compressed natural gas are being used as viable alternatives in some applications, such as fleet vehicles and heavy-duty trucks. These engines require specialized fuel delivery systems and customized engine components to run on natural gas fuel.
Global Automotive Semiconductor Market Growth, by Application, 2022
Source: Research Dive Analysis
The telematics & infotainment sub-segment accounted for the highest market share in 2022. Telematics & infotainment technologies have become standard features in modern automobiles, transforming the driving experience. Automotive makers are utilizing sophisticated semiconductor technology to improve connection and deliver a diverse set of infotainment functions. The increase in telematics and infotainment applications can be attributed to technological advances in mobile phones, the Internet, and GPS receivers. High accuracy demands have boosted demand for systems such as location tracking, work dispatch, vehicle diagnostics, and other things. Automotive entertainment and telematics systems provide a wide range of features. They are linked to one another as well as to other systems like GPS and entertainment systems. Short-range wireless devices, mobile phones, and USB devices are also connected to the same internal networks. Telecommunications interfaces can also be used for remote vehicle surveillance, reprogramming of software, system diagnostics, and control of certain vehicle systems through connections with external devices. Automobile manufacturers are using more semiconductor components for telematics, and entertainment, applications due to increased rivalry to provide their consumers greater comfort and convenience.
Global Automotive Semiconductor Market Size & Forecast, by Region, 2022-2032 ($Million)
Source: Research Dive Analysis
The North America automotive semiconductor market generated the highest revenue in 2022. North America is one of the leading markets for automotive semiconductors. The U.S. leads the world in semiconductors owing to extensive R&D activities with advancements in electronic design automation, chip design, and advanced manufacturing equipment. North America experiences a higher adoption rate of the latest, advanced, and automated vehicular technologies due to the presence of numerous companies which are inclined toward offering advanced vehicle-based technologies. Moreover, the penetration of IoT and artificial intelligence has featured cars & other vehicles with multiple installation of electronic components. Furthermore, the rising use of semiconductors in automotive aftermarket such as music systems, GPS navigation, cameras & videos, head units & receivers, subwoofers, and others increases the demand for semiconductors. For instance, in 2018, Volkswagen and NVIDIA established a partnership for exchanging ideas for the manufacturing of Volkswagen cars equipped with advanced technologies. North America has shown a greater acceptance rate for advanced and automated vehicular technologies as semiconductors are used to enhance the safety features in automotive vehicles. The U.S. also leads the world in the sales of commercial vehicles. For instance, in 2022, the sale of commercial vehicles in the U.S. was 11.4 million units which accounted for 47.87% of the world commercial vehicle sales. This region has a strong and established automotive manufacturing industry with the presence of leading automakers namely Ford, General Motors, Fiat Chrysler, and others.
Competitive Scenario in the Global Automotive Semiconductor Market
Investment and agreement are common strategies followed by major market players. For instance, in July 2022, NXP Semiconductors NV collaborated with Foxconn for a new generation of intelligent connected vehicles. The primary focus of the expanded collaboration is aimed at Foxconn’s efforts in electric vehicle (EV) platforms, leveraging NXP’s system expertise and comprehensive electrification portfolio, from NXP S32 processors to analog-front-end, drivers, networking, and power products. The collaboration would leverage NXP’s portfolio of automotive technologies and its longstanding expertise in safety and security to enable architectural innovation and platforms for electrification, connectivity, and safe automated driving.
Source: Research Dive Analysis
Some of the leading automotive semiconductor market players are STMicroelectronics N.V., Analog Devices, Inc., Texas Instruments, Inc., Micron Technology, Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corp., On Semiconductor Corp., Robert Bosch GmbH, and ROHM Co., Ltd.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Component
Segmentation by Vehicle Type
Segmentation by Propulsion Type
Segmentation by Application
Key Companies Profiled
Q1. What is the size of the global automotive semiconductor market?
A. The size of the global automotive semiconductor market was over $68,375.7 million in 2022 and is projected to reach $160,260.8 million by 2032.
Q2. Which are the major companies in the automotive semiconductor market?
A. STMicroelectronics N.V. and Analog Devices, Inc. are some of the key players in the global automotive semiconductor market.
Q3. Which region, among others, possesses greater investment opportunities in the future?
A. Asia-Pacific possesses great investment opportunities for investors in the future.
Q4. What will be the growth rate of the Asia-Pacific automotive semiconductor market?
A. Asia-Pacific automotive semiconductor market is anticipated to grow at 10.2% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Texas Instruments, Inc., Micron Technology, and Infineon Technologies AG are the companies investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.5.Market size estimation
2.2.Key objectives of the study
2.5.Overview of the impact of COVID-19 on global automotive semiconductor market
4.2.Growth impact forces
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.7.Impact of COVID-19 on automotive semiconductor market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Automotive Semiconductor Market Analysis, by Component
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region, 2022-2032
5.2.3.Market share analysis, by country, 2022-2032
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region, 2022-2032
5.3.3.Market share analysis, by country, 2022-2032
5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region, 2022-2032
5.4.3.Market share analysis, by country, 2022-2032
5.5.1.Definition, key trends, growth factors, and opportunities
5.5.2.Market size analysis, by region, 2022-2032
5.5.3.Market share analysis, by country, 2022-2032
5.6.1.Definition, key trends, growth factors, and opportunities
5.6.2.Market size analysis, by region, 2022-2032
5.6.3.Market share analysis, by country, 2022-2032
5.7.1.Definition, key trends, growth factors, and opportunities
5.7.2.Market size analysis, by region, 2022-2032
5.7.3.Market share analysis, by country, 2022-2032
5.8.Research Dive Exclusive Insights
6.Automotive Semiconductor Market Analysis, by Vehicle Type
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region, 2022-2032
6.1.3.Market share analysis, by country, 2022-2032
6.2.Light Commercial Vehicle
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region, 2022-2032
6.2.3.Market share analysis, by country, 2022-2032
6.3.Heavy Commercial Vehicle
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region, 2022-2032
6.3.3.Market share analysis, by country, 2022-2032
6.4.Research Dive Exclusive Insights
7.Automotive Semiconductor Market Analysis, by Propulsion Type
7.1.Internal Combustion Engine
7.1.1.Definition, key trends, growth factors, and opportunities
7.1.2.Market size analysis, by region, 2022-2032
7.1.3.Market share analysis, by country, 2022-2032
7.2.1.Definition, key trends, growth factors, and opportunities
7.2.2.Market size analysis, by region, 2022-2032
7.2.3.Market share analysis, by country, 2022-2032
7.3.Research Dive Exclusive Insights
8.Automotive Semiconductor Market Analysis, by Application
8.2.1.Definition, key trends, growth factors, and opportunities
8.2.2.Market size analysis, by region, 2022-2032
8.2.3.Market share analysis, by country, 2022-2032
8.3.1.Definition, key trends, growth factors, and opportunities
8.3.2.Market size analysis, by region, 2022-2032
8.3.3.Market share analysis, by country, 2022-2032
8.4.1.Definition, key trends, growth factors, and opportunities
8.4.2.Market size analysis, by region, 2022-2032
8.4.3.Market share analysis, by country, 2022-2032
8.5.1.Definition, key trends, growth factors, and opportunities
8.5.2.Market size analysis, by region, 2022-2032
8.5.3.Market share analysis, by country, 2022-2032
8.6.Telematics & Infotainment
8.6.1.Definition, key trends, growth factors, and opportunities
8.6.2.Market size analysis, by region, 2022-2032
8.6.3.Market share analysis, by country, 2022-2032
8.7.Research Dive Exclusive Insights
9.Automotive Semiconductor Market, by Region
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
9.1.4.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
9.2.6.Rest of Europe
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
9.2.7.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
9.3.6.Rest of Asia-Pacific
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
9.3.7.Research Dive Exclusive Insights
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
126.96.36.199.Market size analysis, by Component, 2022-2032
188.8.131.52.Market size analysis, by Vehicle Type, 2022-2032
184.108.40.206.Market size analysis, by Propulsion Type, 2022-2032
220.127.116.11.Market size analysis, by Application, 2022-2032
18.104.22.168.Market size analysis, by Component, 2022-2032
22.214.171.124.Market size analysis, by Vehicle Type, 2022-2032
126.96.36.199.Market size analysis, by Propulsion Type, 2022-2032
188.8.131.52.Market size analysis, by Application, 2022-2032
9.4.5.Rest of LAMEA
184.108.40.206.Market size analysis, by Component, 2022-2032
220.127.116.11.Market size analysis, by Vehicle Type, 2022-2032
18.104.22.168.Market size analysis, by Propulsion Type, 2022-2032
22.214.171.124.Market size analysis, by Application, 2022-2032
9.4.6.Research Dive Exclusive Insights
10.1.Top winning strategies, 2022
10.3.Market share analysis, 2022
11.2.Analog Devices, Inc.
11.3.Texas Instruments, Inc.
11.5.Infineon Technologies AG
11.6.NXP Semiconductors N.V.
11.7.Renesas Electronics Corp.
11.8.On Semiconductor Corp.
11.9.Robert Bosch GmbH
11.10.ROHM Co., Ltd.
Automotive semiconductors are special type of electronic components used in vehicles for critical functions, such as safety features, sensing, power management, and control of the vehicle. These semiconductors are made of germanium and silicon as the basic components, which are essential for automotive electronics’ better working. Automotive semiconductors are used in vehicles to ensure the efficient operation of the associated component in all conditions. The advancements in vehicle-based technology, such as introduction of telematics & infotainment, advanced driver assistance system (ADAS) followed by the increased inclination towards the rising adoption of electric vehicles are responsible for the growth of the global automotive semiconductor market across the globe.
COVID-19 Impact on Automotive Semiconductor Market
The outbreak of COVID-19 across the globe has unfavorably impacted the global automotive semiconductor market growth. The negative impact on the market is majorly owing to the lockdown restrictions which influenced the import and export of the raw materials across the globe. Due to this, the semiconductor manufacturing organizations were hugely affected as they were not able to manufacture the required parts for the vehicles. Besides, the drop in the sales of vehicles and the slowing down in the development of the novel electric vehicles in the developing economies are other factors which have negatively impacted the market growth during the pandemic period.
However, various governments across the globe are taking initiatives such as providing subsidies and several other advantages to people for adopting electric vehicles which is predicted to boost the growth of the global automotive semiconductor market post the pandemic period over the forecast period.
Automotive Semiconductor Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global automotive semiconductor market growth in the upcoming years.
For instance, in July 2021, STMicroelectronics, the leading electronics and semiconductors manufacturer, entered into an anchor partnership with Autobahn with an aim to power innovation in the automotive industry by introducing dynamic new companies (selected) to established technology corporations. Along with STMicroelectronics’s support through semiconductors and Autobahn’s major car brands and vendors, the major emphasis will be given on smart mobility for smart and electric connected driving vehicles.
In September 2021, ROHM, the leading designer and manufacturer of semiconductors, integrated circuits (ICs), and other electronic components, announced the development of novel SerDes ICs and PMIC majorly designed for the vehicle satellite cameras in order to support Advanced Driver Assistance Systems (ADAS). According to the company, these products will help in low electromagnetic noise, low power consumption, and compact the ADAS system modules.
In January 2022, Infineon Technologies AG, the global market specialist in automotive semiconductors, announced the launch AURIX TC4x to strengthen its automotive semiconductor offering. With this launch, Infineon is continuing its path to shape future mobility with technological advancements, such as eMobility, automotive E/E architectures, ADAS, and affordable AI applications.
Forecast Analysis of Global Market
The global automotive semiconductor market is projected to witness an exponential growth over the forecast period, owing to the business expansion and acquisitions by key market players. Conversely, the increase in prices of vehicles across the globe is expected to hamper the market growth in the projected timeframe.
The increasing demand for safety features and the growing adoption of electric vehicles across the globe are the significant factors and automotive semiconductor market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global automotive semiconductor market is expected to garner $93,696.2 million during the forecast period (2021-2028). Regionally, the Asia-Pacific market is estimated to witness the fastest growth by 2028, owing to the growing automotive manufacturing hubs and the direct partnerships amongst the vehicle OEMs and semiconductor manufacturers.
The key players functioning in the global market include STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments, Inc., Analog Devices, Inc., Micron Technology, NXP Semiconductors N.V., Renesas Electronics Corp., Robert Bosch GmbH, On Semiconductor Corp., and ROHM Co., Ltd.