The demand for modernization of vehicles equipped with advanced technologies have led the technology companies to innovate and design systems/technologies including advanced driver assistance systems, anti- lock braking systems, traction control and adaptive cruise control, and electronic stability control. With an uninterrupted up gradation in existing technologies and introduction of new technologies, the ADAS market has experienced a high growth across the globe.
The newer versions of ADAS provided by various companies are capable of recognizing police vehicles, ambulance, taxis, speed restrictions board, and pedestrians. The discerning capability is attracting an increased number of automotive OEMs in the recent scenario, and the adoption of the same is rising substantially.
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Many several semiconductor companies are regularly coming up with more advance technologies which is successfully attracting the automotive OEMs. The automotive semiconductor market is projected to observe a significant growth in the coming years, with an urge to adopt and deploy advanced driver assistance systems in their vehicles due to heavily propelled by the consumer interest and regulatory norms. For instance, the regulatory authorities in the US and European Union (EU), have mandated the integration of autonomous emergency braking systems along with forward collision warning system in all vehicles by 2020.
The automobile manufacturers worldwide are experiencing significant demand for vehicles ranging from passenger vehicles, lightweight commercial vehicles, and heavyweight commercial vehicles. Higher disposable income in the developed countries and increasing purchasing power capacity among the population in developing countries is significantly driving the automobile procurement.
The automotive industry across the globe are constantly facing pressures to integrate their vehicles with advanced electronics and semiconductor components in order to enhance the performance of the vehicles. The rising drift of electrification of vehicles is a major factor boosting the semiconductor market in automotive industry.
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NXP Semiconductors N.V.
Infineon Technologies AG
Texas Instruments Inc.
Renesas Electronics Corporation
Robert Bosch Gmbh
ON Semiconductor Corporation