Global Automotive Semiconductor Market Forecast 2019-2027
The Global Automotive semiconductor market is anticipated to grow at a CAGR of 6.76% to generate a revenue of $64.02 billion by the year 2027. The base year considered for the market study is 2018, and the estimated period is between 2019 and 2027. The consistent growth of the market can be attributed to various factors such as growing safety and security needs, growing demand from emerging economies, high production volumes of automobiles, growing demand for safety, convenience, and comfort systems and a rising trend of vehicle electrification.
The global automotive semiconductor market is segmented on the basis of the component, vehicle type, and fuel type. The important driver increasing growth in the global automotive semiconductor market is the high production volumes of automobiles, whose growth wen quantified by Inkwood Research was found to be at a CAGR of XX% till 2020, following increasing demand from emerging economies, low shale oil prices, and increasing middle-class income.
Analog semiconductor technologies are driving innovations and high-growth fuel types for many of today’s fast-growing end-user markets such as broadband access, digital audio, high-resolution imaging, and others. Analogue chips are an integral component of nearly all fuel types in today’s digital world.
Though the market is advancing at a steady pace, it is still facing certain challenges. Modern vehicles are often connected and other devices through various communication networks, which makes the connected devices and their controls vulnerable to hackers. Technological challenges, such as temperature concerns related to automotive ICs, also affect market growth.
The global automotive semiconductor market is geographically spread over the Asia-Pacific, North America, Europe, and the Rest of World. The Asia-Pacific region has evolved as a chief automotive hub in the recent years and is expected to hold the biggest share by the end of the forecast period. On the other hand, the North American region is predicted to exhibit the fastest growth on account of the rising demand for semiconductors from the region.
Toshiba is a leading market company expanded over the Asia Pacific, Europe, the Americas, and the Middle East and Africa regions. The company deals with products like Blu-ray recorders, personal computers (PCs),storage devices, televisions (TVs), tablets, semiconductors, microwave semiconductors, and components, and much more. Another company, Infineon Technologies AG (Infineon or ""the company"") deals in developing, designing, manufacturing and marketing of semiconductors and complete system solutions. Some of the other prominent players in the market include Infineon Technologies AG, Texas Instruments Incorporated, Robert Bosch, Analog Devices, Inc., ON Semiconductor Corporation, NXP Semiconductors N.V., Renesas Electronics Corporation, Rohm Co., Ltd., Sensata Technologies Holding N.V., Toshiba Corporation, STMicroelectronics N.V., and Melexis N.V.
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