Global Automotive Semiconductor Market Outlook, Prospect and Future 2020
Global Automotive Semiconductor Market is valued at approximately USD 48 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.9% over the forecast period 2020-2027. In recent years, the electronics system has emerged as a major innovation field in the automotive industry that will enhance the utilization of semiconductor..
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Semiconductors play a substantial of innovations in the development of automotive components & systems as the modern car rapidly utilizing advanced features, such as cell phone integration, navigation control, infotainment systems, heads-up displays, autonomous driving aids, comfort, and performance that requires the assistance of the semiconductor. As cars continuously becoming more complex with advanced features, the adoption of automotive semiconductors increases gradually and offers a powerful long-term growth engine for the automotive sector. Furthermore, the rise in production & sales of passenger cars and commercial vehicles, along with the rise in trend of vehicle electrification are the few factors responsible for the CAGR of the market during the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2019, there were around 67.1 million units of passenger cars produced around the world, representing an increase of 65.7 million units in 2013. This, in turn, is expected to strengthen the market growth all over the world. Although, the recent outbreak of COVID-19 pandemic has been ravaging numerous countries across the globe, due to which the overall automotive industry is adversely impacting. While the capital investments are high in the sector before the COVID-19 crisis, and presently, they are expected to be postponed or put on for at least a year. Therefore, this factor is negatively influencing the demand for automotive semiconductor in the recent year. However, the high cost of the advanced featured vehicle is one of the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Automotive Semiconductor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rise in the production of vehicles with advanced features, and the presence of a significant number of medical device manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing disposable income of the individuals and escalating demand for advanced safety, convenience, and comfort systems would create lucrative growth prospects for the Automotive Semiconductor market across the Asia-Pacific region.
Major market player included in this report are:
NXP Semiconductor NV
Infineon Technologies AG
Renesas Electronics Corporation
STMicroelectronics N.V.
Toshiba Corporation
Texas Instrument Inc.
Robert Bosch GmbH
Micron Technology
ON Semiconductor
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
Passenger Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
Others
By Component:
Processors
Sensors
Memory Devices
Integrated Circuits
Discrete Power Devices
Other
By Application:
Chassis
Power Electronics
Body Electronics
Comfort/Entertainment Unit
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Automotive Semiconductor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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