Feb 12, 2022   SOURCE: BusinessWire

Global Automotive Semiconductor Market to 2027 - Featuring NXP Semiconductors, Infineon Technologies and Robert Bosch Among Others - ResearchAndMarkets.com

The "Global Automotive Semiconductor Market By Application, By Vehicle Type, By Component, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Automotive Semiconductor Market size is expected to reach $60.5 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.

Semiconductors are integral components in new-age automobiles for various functions like electrification, safety, and communication & connectivity. With the increase in acceptance and popularity of electric and hybrid vehicles, the automotive industry is expected to witness massive demand for semiconductors. Also, semiconductors available in the form of power devices and solar cells help develop the required charging infrastructure which is essential to make the concept of electric vehicles feasible and popular.

With the increasing demand for automation and advanced features in the automotive industry, semiconductors will be highly integrated into onboard systems for different applications. As the concept of autonomous is slowly emerging worldwide, highly advanced semiconductor devices play a crucial role in technological advancements occurring in the automotive industry. The focus of automakers is rapidly shifting to comfort, productivity, and interiors with the significance is placed more on rider experience than driving experience.

The growth of the automotive semiconductor market is expected to witness bright prospects due to the surge in demand for electronic content per car. One of the major catalysts for the market growth includes an upsurge in the penetration of electronic parts in high-end to mass-produced cars. Moreover, the proliferation of connected cars, automotive safety systems, infotainment systems, and fuel efficiency standards are directly proportional to the growth of the automotive semiconductor market.

COVID-19 Impact Analysis

The global pandemic and measures taken to control the transmission of the virus have created massive uncertainty in businesses, thereby adversely impacting the industries around the globe. Due to the pandemic, many industries faced massive revenue loss and automobile semiconductor is no exception. Sales of semiconductors for automotive applications are largely based on the degree of vehicle electrification and digitization and vehicle sales volume. The sales of automobiles have been drastically declined due to the disruption caused by the global pandemic. The growth of the automotive semiconductor market is hampered by the decreasing sales of commercial and passenger vehicles. The disruption in international export and import shipments proportionately delayed the raw materials and production supplies in the electric vehicles market.

Market Growth Factors:

Increased demand for ADAS

The sales of ADAS (Advanced Driver Assistance Systems) is expected to increase in upcoming years due to the increase in demand for safety features that aim to prevent accidents and collisions by providing technologies that notify the driver regarding possible issues and to prevent collisions by installing safeguards and taking complete control over the vehicle. Semiconductors are highly used in ADAS with an aim to improve its functionality. In addition, the thriving automotive sector and innovative features in the luxury sector have increased the number of sensors being embedded into automobiles to offer more sophisticated services to consumers.

The surge in adoption and popularity of EVs

The growth of automotive semiconductors is expected to be driven by the rise in the adoption of sustainable alternative fuel vehicles such as hybrid electric vehicles. As per the ICCT, worldwide EV production crossed above 2 million per year in 2019 and sold above 80,000 EVs per year. Moreover, semiconductors are making EVs more efficient, secure, and interactive, which are critical aspects when human life is at risk. They are also essential for batteries and power trains in an electric vehicle.

Market Restraining Factor:

COVID-19 pandemic caused massive disruption in the supply chain of semiconductor

The production of the domestic car has been drastically declined because of chip storage worldwide. Almost every domestic carmaker is witnessing some disruptions because of the current shortage of semiconductors, a major element that is utilized across new-age vehicles. The COVID-19 pandemic and resulting lockdown measures have compelled automakers to shut down their manufacturing plants across many countries, thereby drastically reducing the production capabilities.

Market Segments Covered in the Report:

By Application

  • Body Electronics
  • Powertrain
  • Safety
  • Telematics & Infotainment
  • Chassis
  • Others

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Component

  • Discrete Power
  • Processor
  • Sensor
  • Memory
  • Others

By Geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

  • NXP Semiconductors N.V.
  • Infineon Technologies AG
  • Robert Bosch GmbH
  • Texas Instruments, Inc.
  • Toshiba Corporation
  • Analog Devices, Inc.
  • Renesas Electronics Corporation
  • ON Semiconductor Corporation
  • Rohm Semiconductors Co., Ltd.
  • STMicroelectronics N.V.

For more information about this report visit https://www.researchandmarkets.com/r/rdutk8