Automotive chips find tremendous application in modern vehicles. They are used in a variety of electronic systems, which include powertrain, telematics and infotainment, chassis and safety systems, powertrain, etc. Market Research Future (MRFR) projects that the global automotive chip market is set to witness 12.8% CAGR between 2018 and 2023. The market is expected to surpass a valuation of USD 72,400 Mn towards the end of the assessment period.
Automotive chip is a key vehicle component catering a slew of automotive application such as advanced driving assistance system, parking assistance, lane-change assistance and blind spot detection. Besides, technological development in the automotive sector has bolstered the application prospects of automotive chip. It plays an importance role in new-age technologies such as gesture-based recognition, free space sensing, occupancy detection, driver vital-sign monitoring, etc.
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Emergence of automotive technologies such as advanced connectivity, automated driving, security, e-mobility has created significant application scope for automotive chip. A spike has been noticed in the worldwide sales of automotive semiconductor on account of emergence of technologies such as EV batteries, matrix LED lights, augmented-reality and lidar sensor. Furthermore, the rise of IoT and 5G network along with their increased usage in the automotive sector is in part creating growth opportunities for market players.
It is projected that the global market for automotive chip will benefit from the exponential growth of the semiconductor industry. Sales of semiconductors are likely to remain healthy over the next several years. At the same time, introduction of novel semiconductor technologies is opening new avenues for market players. Carmakers are actively adopting advanced semiconductor technologies such as DRAM and NAND flash, sensors and graphics processing units (GPUs) for developing new feature and improving vehicle performance.
Global Automotive Chip Market: Segmental Analysis
The segmental analysis of the market has been conducted based on propulsion, vehicle type, product, and application.
By propulsion, the market has been segmented into HEVs, BEVs and ICE. By vehicle type, the market has been segmented into commercial vehicle and passenger car. Based on product, the market has been segmented into logic ICs, microcontrollers & microprocessors and analog ICs. Of these, the analog IC segment commanded for close to 42% share of the market in 2017. The segment is currently valued at over USD 14,900 Mn and is projected to demonstrate a CAGR of 15.93% during the assessment period. The segment’s growth is driven by widespread use of analog IC in linear regulators, active filters, operational amplifiers, phase locked loops, oscillators among others. The broad application spectrum of analog IC across sectors such as automotive, and electronics is continues to fuel its demand. On the basis of application, the market has been segmented into chassis, safety system, telematics & infotainment, powertrain and body electronics.
Global Automotive Chip Market: Regional Analysis
Asia Pacific is the largest market for automotive chip. The region currently accounts for nearly 51% share of the of global automotive chip market. The market in APAC is led by China, which is home to the largest automotive manufacturing industry. In 2017, the China automotive chip market was valued at USD 9,659.5 Mn. It is anticipated that countries such as India, China and Japan are expected to make significant contribution to the market during the forecast period. This is mainly owing to prowess of these countries in the automotive sector. In addition, growth of sub-markets such as automotive semiconductor is reflecting favourably on the APAC market.
Global Automotive Chip Market: Competition Analysis
Some of the notable market players profiled in MRFR’s report include ON Semiconductor (US), Infineon Technologies AG (Germany), Toshiba Corporation (Japan), NXP Semiconductors (Netherlands), Robert Bosch GmbH (Germany), ROHM Semiconductor (Japan), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), Denso Corporation (Japan) and Renesas Electronics Corporation (Japan).
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