Automotive Semiconductor Market size is estimated to be worth USD 183.8 billion by the end of 2032, according to the report.
The rising trend of electric cars is a major factor driving the market growth. In recent years, EVs are increasingly requiring a variety of semiconductors for power electronics, motor control, battery management systems, and charging infrastructure. To that end, the rise in EV usage internationally has led to the higher need for automotive semiconductors. Furthermore, the advent of V2X communication will offer multiple growth prospects for the industry growth. However, the dearth of semiconductor components mainly across the automotive sector may hinder the industry growth.
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Automotive Processors to record high demand
In terms of components, the automotive semiconductor market size from the processors segment generated over USD 15 billion in 2022. The presence of advanced infotainment and networking capabilities in automobiles necessitate the employment of processors to handle multimedia processing, communication protocols, and user interfaces. The growing consumer demand for improved infotainment and connection features is also fueling the need for processors with expanded capabilities, resulting in significant demand for processors in automotive industry.
Increasing usage in safety applications
Automotive semiconductor market size from the safety application segment is poised to record over 12% CAGR from 2023-2032 driven by the growing consumer demand for better safety features, such as sophisticated driver assistance systems and driverless vehicles. Collision avoidance, adaptive cruise control, and automatic emergency braking are typical ADAS technologies that rely on sensors, processors, and other semiconductor components to provide real-time sensing and decision-making, further contributing to the segment growth.
Europe to emerge as a significant market destination
Europe held a sizable share of the global automotive semiconductor market in 2022 and is set to generate more than USD 40 billion by 2032. Europe has witnessed a surge in the rate of EV adoption, necessitating advanced semiconductor technologies for power management and electric drivetrain systems. The introduction of severe car safety rules and regulatory frameworks is also driving the expansion of the European automotive semiconductor industry. For instance, the new Vehicle General Safety Regulation mandated the incorporation of ADAS in all cars in Europe in 2022.
Automotive Semiconductor Market Participants
Prominent companies operating in the global automotive semiconductor industry include NXP Semiconductors N.V., Analog Devices, Inc., Onsemi, Infineon Technologies AG, STMicroelectronics N.V., Robert Bosch Gmbh., and others.
Automotive Semiconductor Market News
- In November 2022, Infineon Technologies AG introduced XENSIV TLE4971, a new current sensor designed for automotive applications, such as high-voltage auxiliary drives, onboard chargers, and charging applications.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Automotive semiconductor market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Component trends
2.5 Vehicle type trends
2.6 Propulsion type trends
2.7 Application trends
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