Automotive Semiconductor Market Size Will Reach USD 103.85

Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the automotive semiconductor market size is expected to reach USD 103.85 billion by 2029 and grow at a CAGR of 8.4% during the forecast period. The market size stood at USD 53.06 billion in 2021 and USD 59.22 billion in 2022. The growing adoption of hybrid electric and electric vehicles bodes well for the outlook of the industry. Additionally, increasing development of self-driving vehicles to enhance safety will encourage major companies to invest in semiconductors, factors that will drive the overall automotive semiconductor market growth.

Industry players expect strong demand for hybrid and electric vehicles to drive automotive semiconductor market share, says Fortune Business Insights in its report titled Automotive Semiconductor Market Outlook 2022-2029.

industry development

October 2021: Infineon Technologies AG announced the introduction of the SLI37 automotive safety controller to boost automotive applications.

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Report Scope and Segmentation:

Report cover Details
Forecast period 2022-2029
Forecast Period 2022 to 2029 CAGR 8.4%
2029 value projection $103.85 billion
base year 2021
Market size in 2022 $59.22 billion
Historical data for 2018-2020
Number of pages 165
Segments Covered By component, by vehicle type, by propulsion, by application
Growth engines Growing demand for hybrid and electric vehicles to drive industry growth
Asia-Pacific will offer lucrative opportunities with the bullish adoption of electric cars

Regional outlook

Asia-Pacific will offer lucrative opportunities with the bullish adoption of electric cars

High penetration of electric vehicles in China may boost the Asia-Pacific market during the forecast period. According to the China Passenger Car Association, passenger electric vehicle sales in China increased 169.1% from 2020 to nearly 2.99 million in 2021. The growing footfall of commercial electric vehicles in China, Japan , South Korea and India will encourage major players to invest in the region.

The growth of automotive semiconductor market in North America will witness a notable gain owing to robust sales of commercial and passenger electric vehicles. In addition, an increased focus on the commercialization and development of autonomous electric vehicles will promote regional growth.

Europe could account for a considerable share of the global market following the implementation of vehicle emissions and the trend of autonomous vehicles. The growing demand for electrification could also encourage large companies to invest in the landscape.

Market factors-

Growing demand for hybrid and electric vehicles to drive industry growth

Certain factors, such as strict pollution laws including the Kyoto Protocol and the prevalence of subsidies for the purchase of hybrid electric vehicles, will bode well for the growth of the industry. As an illustration, PWC claimed that global sales of battery electric vehicles (processors) jumped 121% in 2021 compared to the previous year. With the growing demand for electric vehicles and the need for sensors to stimulate motor operation, the demand for automotive semiconductors has seen a noticeable increase. However, high costs and security risks might hamper the growth of the industry.

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Market Segmentations-

The processor segment will remain dominant with the increasing use of electronic components

In terms of components, the market is divided into memory device, processor, discrete power device, analog IC, sensor, and others. The processor segment might dominate the global market owing to the growing use of electronic components.

Passenger cars will dominate the market thanks to the integration of entertainment systems

Based on vehicle type, the market is categorized into commercial vehicles and passenger cars. Stakeholders expect the passenger car segment to dominate the global market with the integration of entertainment systems.

Soaring fuel prices to power electric propulsion

As far as propulsion is concerned, the market is separated into electric and ICE. Electric propulsion may be the fastest growing segment due to rising fuel prices and low operating costs of electric vehicles.

The security segment will dominate with the increasing implementation of stringent regulations

In terms of application, the market is divided into security, telematics and infotainment, powertrain, chassis and body electronics. The security segment will remain predominant in the wake of the implementation of rigorous regulations.

Segmentation By component

  • Processor
  • analog IC
  • Discreet power device
  • Sensor
  • memory device
Per vehicle

  • Particular Cars
  • Commercial vehicles
By motorization
By request

  • Powertrain
  • Security
  • Body electronics
  • Chassis and Telematics & Infotainment

Impact of COVID-19

COVID-19 pandemic: decline in motor vehicle sales to hamper growth

The outbreak of the COVID-19 pandemic has wreaked havoc on the automotive industry across the world. It forced various automakers to halt their production processes. A decline in vehicle sales and production is likely to hamper demand for automotive semiconductors amid this pandemic. Our in-depth reports would help you choose the right strategy to get out of this serious situation.

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Competitive Landscape-

Stakeholders invest in organic and inorganic strategies to boost portfolios

Major players could inject funds into mergers and acquisitions, product rollouts, technological advancements and R&D activities. Additionally, significant companies could invest in innovations and product offerings in the coming period.

Companies Featured in the Cloud Security Market Research Report:

  • Robert Bosch GmbH (Germany)
  • Infineon Technologies AG (Germany)
  • STMicroelectronics (Switzerland)
  • NXP Semiconductors (Netherlands)
  • Toshiba Corporation (Japan)
  • On Semiconductor Corporation (USA)
  • ROHM Co., Ltd. (Japan)
  • Texas Instruments Incorporated (USA)
  • Renesas Electronics Corporation (Japan)
  • Denso Corporation (Japan)

FREQUENTLY ASKED QUESTIONS

  1. What is the size of the cloud security market?

According to Fortune Business Insights, the global market size was USD 59.22 billion in 2022 and is expected to reach USD 103.85 billion by 2029.

  1. Which region had the highest market share?

Asia-Pacific dominated the market share in 2021.

Quick Buy – Automotive Semiconductor Market Research report: https://www.fortunebusinessinsights.com/checkout-page/106780

Contents:

1. Introduction

1.1. Search scope

1.2. Market segmentation

1.3. Research Methodology

2. Executive Summary

3. Market dynamics

3.1. Market factors

3.2. Market constraints

3.3. Market opportunities

4. Key information

4.1. Mergers, acquisitions and partnerships

4.2. The Five Forces of PORTER

4.3. SWOT analysis

4.4. Automotive Semiconductor Value Chain

4.5. A Typical Semiconductor Production Journey

4.6. Distributor Analysis for Major Players

4.7. Technological development

4.8. Impact of COVID-19 on Automotive Semiconductor Market

5. Global Automotive Semiconductor Market Analysis, Outlook and Forecast, 2018-2029

5.1. Main results/summary

5.2. Market Analysis, Outlook and Forecast – By Component

5.2.1. Processor

5.2.2. analog IC

5.2.3. Discreet power device

5.2.4. Sensor

5.2.5. memory device

5.2.6. Others

5.3. Market Analysis, Outlook and Forecast – By Vehicle Type

5.3.1. Passenger car

5.3.2. Commercial vehicles

5.4. Market Analysis, Outlook and Forecast – By Propulsion

5.4.1. ICE

5.4.2. Electric

5.5. Market Analysis, Outlook and Forecast – By Application

5.5.1. Powertrain

5.5.2. Security

5.5.3. Body electronics

5.5.4. Frame

5.5.5. Telematics and infotainment

5.6. Market Analysis, Outlook and Forecast – By Region

5.6.1. North America

5.6.2. Europe

5.6.3. Asia Pacific

5.6.4. Rest of the world

Continued…

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  • Automotive Semiconductor Market Share

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