Scope of the Report
Automotive Semiconductor Market size is anticipated to register a significant CAGR of 7% between Forecast period.
This report provides an in-depth analysis of the Global Automotive Semiconductor Market tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Automotive Semiconductor market by Component, Application, Vehicle Type, and region.
Key Players in the Global Automotive Semiconductor Market 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 Corporation, and Analog Devices Inc.
Global Automotive Semiconductor Market Size is anticipated to register a significant CAGR of 7% between 2020 and 2026. Semiconductors enable most of the innovations in automotive development as the modern car contains features like cell phone integration, heads-up displays, autonomous driving aids, comfort, and performance which needs the aid of the semiconductor. As cars become even more complex, demand for automotive semiconductors will increase progressively and provide a powerful long-term growth engine for the automotive sector.
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Automotive semiconductor ICs with different functionalities are used in various automotive products, like navigation control, infotainment systems, and collision detection systems. The electrification and automation of automobiles have led to increased demand in semiconductor wafers. The continuous innovations in the field of semiconductors for wide variety of applications in passenger cars, lightweight commercial vehicle (LCV), heavyweight commercial vehicle (HCV) is attracting several automakers globally, which is paving the path for automotive semiconductors market in the current scenario.
Global Automotive Semiconductor Market size is anticipated to register a significant CAGR of 7% between 2020 and 2026.
Based on region, the global Automotive Semiconductor Market Growth has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Faster GDP growth and the highly aspirational Asian consumers have been the two main growth drivers for most of the emerging markets, including China, India, Malaysia, and the other developing markets in Southeast Asia. In China, for example, a rising middle class is expected to continue driving the steady growth of the Chinese auto market, with the market for new purchases and replacement of vehicles increasing. These factors are spurring the demand for automobiles in the region, consequently driving the market for automotive semiconductors.
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The global Automotive Semiconductor market has been segmented by Component, Application, Vehicle Type, and region. Based on Component, the global Automotive Semiconductor market can be bifurcated into Processors, Sensors, Memory Devices, Integrated Circuits, Discrete Power Devices, and Others. The Integrated Circuits segment is anticipated to grow at a significant CAGR in the coming years. By Application, the Automotive Semiconductor market has been split into Chassis, Power Electronics, Safety, Body Electronics, Comfort/Entertainment Unit, and Others. The Power Electronics segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By Vehicle Type, the Automotive Semiconductor Market Share has been split into passenger cars, LCV, and HCV. The passenger cars segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years..
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