Automotive Chip Market Size, Competitive Dynamics, Target Audience and Global Outlook till forecast 2023
Market Overview
Advent of advanced 5G networks is expected to be a crucial factor in enhancing the market of automotive chips. In this context, the developed nations to be specific are expected to mark noteworthy growth. A greater level of adoption of fresh creative semiconductor technology is also one of the prime reasons behind the boosting of Global Automotive Chip Market.
Competitive Landscape
Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands), ROHM Semiconductor (Japan), Toshiba Corporation (Japan), and Denso Corporation (Japan). These companies are employing several strategies like merger, acquisition, product launch, innovation, and others.
Segment Analysis
Global Automotive Chip Market Size is segmented on the basis of product, application, vehicle type, propulsion, and region. On the basis of product, the analog IC segment contributing the most with a market value of USD 14,947.3 million. In this context, it is expected to witness a growth at 15.93% CAGR during the forecast period. On the basis of application, the market is segmented in to body electronics, powertrain, safety system, and chassis. In terms of vehicle type, the market is segmented in to passenger car and commercial vehicle. On the basis of propulsion, it can be categorised in to ICE, BEVs, and HEVs.
Regional Analysis
Global Automotive Chip Market Size, from regional perspective is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific among these is the most prominent market enjoying the highest share in the global Automotive Chip Market Size,. To be specific, its market value is expected to be the most significant during the forecast period with 51.76% share. China is the most prominent market in this segment with worth of USD 9,659.5 million. Apart from China, India and are also the major contributors to in this segment. Growing interest for luxury cars can be claimed as the prime reasons behind this.
Industry News
Cole of Duty publishes a report about the Global Automotive Chip Market Size,. It analyses all dimensions of the market and figures out the prominent factors contributing to the growth of the market. It also analyses the scopes that can contribute the most towards the market growth. It predicts the rate of growth during forecasted year.
Get Full Report @ https://www.marketresearchfuture.com/reports/automotive-chip-market-7676