Automotive Semiconductor Market - Global Outlook and Forecast 2018-2023
The global automotive semiconductor market is estimated to generate revenues of around $52 billion by 2023, growing at a CAGR of approximately 7% during 2017-2023.
The increasing use of powerful microcontrollers, switches, and sensors will revolutionize the engine management and transmission control systems. The growing use of electronics such as collision avoidance systems, infotainment, connected systems, and drive-by-wire technologies will positively impact the market.The electrification of vehicles drives the global automotive semiconductor market in the form of powertrain, infotainment, connected vehicles, safety systems, and electronics. The adoption of sensors owing to the development and adoption of ADAS technologies will boost revenues in the global market. The market research report provides in-depth market analysis and segmental analysis of the global automotive semiconductor market by product, application, vehicle type, and geography.
The report considers the present scenario of the global automotive semiconductor market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Automotive Semiconductor Market - Dynamics
Government initiatives to develop and introduce solutions to tackle the degrading air quality is driving the need for electric vehicles, in turn, boosting the demand in the global automotive semiconductor market. The rising consumer awareness about the ill effects of air pollution is leading to the adoption of green and sustainable technology in the global market. The launch of electric vehicles will help reduce the carbon emissions and promote sustainability in the global automotive semiconductor market. With intense vendor competition and saturated markets, most global vehicle manufacturers are shifting their focus to these countries to explore new growth avenues and increase their market share. The leading vendors are promoting their products and solutions across emerging regions to attract new consumers in the global automotive semiconductor market.For example, Ford has partnered with Changan an Auto and BMW sells its cars in China through Brilliance China Automotive.The development and introduction of ADAS technologies will attribute to the transformation of the global automotive semiconductor market. ADAS is designed to prevent accidents by either assisting or taking control of the vehicle in cases of potential collisions. The two different categories of ADAS technology are passive safety systems and active safety systems.
Automotive Semiconductor Market - Segmentation
This market research report includes a detailed segmentation of the market by product, application, vehicle type, and geography.Processor segment dominated more than 1/3rd of the market share in 2017, growing at a CAGR of more than 7% during the forecast period. The increasing use of processors to perform specific tasks where the relationship of input and output is defined is propelling the growth of this segment in the global market.Memories used in vehicles are built to last longer as compared to home and business computers which have a 2 to 5-year operating life. These batteries are designed to withstand multiple power up and power down cycles, multiple times a day, with a short (under one hr) operating period as the average. Such benefits of memory chips are augmenting the growth of the global automotive semiconductor market.
Safety occupied the fourth largest market share in 2017, growing at a CAGR of more than 13% during the forecast period. The growing adoption of ADAS systems is fueling the development of this segment in the automotive semiconductor market. The increasing number of fatalities in traffic accidents is triggering the adoption of automotive safety systems in vehicles.The increasing demand for computing & networking performance in vehicles is fueling the electronics complexity and safety concerns in the global market. Advancements in body electronics have helped in making new generation vehicles safer and more comfortable for drivers. The passenger car segment dominated more than 2/3rdof the market share in 2017, growing at a CAGR of around 6% during the forecast period. The rapid electrification of vehicle systems, increasing use of electronics, and the implementation of stringent safety norms are some of the factors attributing the growth of this segment.
Market Segmentation by Product
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