Automotive Chip Market Size| COVID-19 Impact, Outlook, Strategies, Industry Analysis, Future Scope, Key Drivers And Forecast To 2023
Automotive Chip Market Overview
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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Competitive Landscape
Companies, across the world, are showing keen interest in this Automotive Chip Market Size Share as they have realized the potential this market can offer. MRFR enlisted several companies and profiled them for a holistic understanding of the possible market-changing trends. These companies are Robert Bosch GmbH (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland)
Segmentation
MRFR’s prediction of the global Automotive Chip Market Size relies heavily on the segmentation they made in the report. These segments are product, application, vehicle type, and propulsion. The segmentation is backed by figures and facts of each section that have been derived from value-based and volume-based analyses conducted by analysts.
Based on the vehicle type, the Automotive Chip Market Size Share has two segments, passenger car and commercial vehicle. The passenger car segment had over 71.2% in 2017, with its expected valuation touching almost USD 25,132.7 million. Its expected CAGR would reach 12.32% during the forecast period.
Based on the propulsion, the Automotive Chip Market Size Share includes ICE, BEVs, and HEVs. The ICE vehicle segment covered over 95.57% in 2017 with valuation scoring USD 34,072.2 million. The segment has a promise to rise by 12.67% CAGR during the forecast period.
Regional Analysis
The global COVID-19 Impact, if considered on the basis of regions, can be segmented by North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). This analysis has its foundation in data that helps in the revelation growth pockets.
The APAC market is the largest market with a more than half of the market coverage in 2017. It occupies almost 51.76% share of the global market. The region is witnessing extraordinary drive from countries like China was the largest market in 2017, valued at USD 9,659.5 million. In India, China, and Japan, the market has found strong infrastructures for the necessary push it needed.
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.