Automotive Semiconductor Global Market to Reach $72.52 Billion by 2026 with an 11% CAGR
DUBLIN, Dec. 2, 2022 /PRNewswire/ -- The "Automotive Semiconductor Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global automotive semiconductor market is expected to grow from $41.84 billion in 2021 to $47.71 billion in 2022 at a compound annual growth rate (CAGR) of 14.0%. The automotive semiconductor market is expected to reach $72.52 billion in 2026 at a compound annual growth rate (CAGR) of 11.0%.
The main components of an automotive semiconductor include a processor, analog IC, discrete power, sensor, memory, and other components. The processors are part of the automotive conductors to conduct the majority of basic arithmetic, logic, I/O tasks and assign directives to other chips and components of in a vehicle.
They help control different parts of the vehicle and at the same time act as a coordinator between different actions of the user. The automotive semiconductors are used in vehicles with different fuel types including diesel, gasoline, electric and hybrid. They are used for constant monitoring of different components in vehicles including powertrain, safety, body electronics, chassis, telematics and infotainment. The automotive semiconductors are supported for passenger vehicle, light commercial vehicle, heavy commercial vehicle, and other vehicle types.
Asia-Pacific was the largest region in the automotive semiconductor market in 2021, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in demand for electric and hybrid vehicles is expected to propel the growth of the automotive semiconductor market. While the economic effect of COVID-19 has dampened demand for petrol and diesel cars, demand for EV and hybrid vehicles have increased. Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring.
These EV and hybrid vehicle shifts help the economy by reducing fuel costs and changing consumption from petroleum products to more locally produced power vehicles. For instance, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Furthermore, the global electric vehicle stock reached 10 million in 2020, representing a 43% increase over 2019. Therefore, rising demand for electric and hybrid vehicles is expected to boost demand for automotive semiconductor during the forecast period.
Technological innovation is a key trend gaining popularity in the automotive semiconductor market. Major companies operating in the automotive semiconductor market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation automotive semiconductor technologies into their products, such as artificial intelligence, IoT, algorithmic chips, ICs, transistors, intelligent sensors, computing, and others, making devices and applications reliable, compactness, and of low cost.
For instance, in November 2019, a Netherlands-based NXP Semiconductors, a semiconductor manufacturing company, launched a new automotive ultra-wide band chip capable of turning smartphones into car keys. This technology uses a new automotive UWB IC chip that provides precise, secure, real-time localization capabilities to enable cars to know exactly where the users are located.
Scope
Markets Covered:
1) By Component: Processor; Analog IC; Discrete Power; Sensor; Memory; Other Components
2) By Fuel Type: Diesel; Gasoline; Electric and Hybrid
3) By Application: Powertrain; Safety; Body Electronics; Chassis; Telematics and Infotainment
4) By Vehicle Type: Passenger Vehicle; Light Commercial Vehicle; Heavy Commercial Vehicle; Other Vehicle Types
Key Topics Covered:
1. Executive Summary
2. Automotive Semiconductor Market Characteristics
3. Automotive Semiconductor Market Trends And Strategies
4. Impact Of COVID-19 On Automotive Semiconductor
5. Automotive Semiconductor Market Size And Growth
6. Automotive Semiconductor Market Segmentation
7. Automotive Semiconductor Market Regional And Country Analysis
8. Asia-Pacific Automotive Semiconductor Market
9. China Automotive Semiconductor Market
10. India Automotive Semiconductor Market
11. Japan Automotive Semiconductor Market
12. Australia Automotive Semiconductor Market
13. Indonesia Automotive Semiconductor Market
14. South Korea Automotive Semiconductor Market
15. Western Europe Automotive Semiconductor Market
16. UK Automotive Semiconductor Market
17. Germany Automotive Semiconductor Market
18. France Automotive Semiconductor Market
19. Eastern Europe Automotive Semiconductor Market
20. Russia Automotive Semiconductor Market
21. North America Automotive Semiconductor Market
22. USA Automotive Semiconductor Market
23. South America Automotive Semiconductor Market
24. Brazil Automotive Semiconductor Market
25. Middle East Automotive Semiconductor Market
26. Africa Automotive Semiconductor Market
27. Automotive Semiconductor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Semiconductor Market
29. Automotive Semiconductor Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Analog Devices Inc.
- Infineon Technologies AG
- NXP Semiconductors
- Renesas Electronics Corporation
- Robert Bosch GmbH
For more information about this report visit https://www.researchandmarkets.com/r/rwxdmv
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