USD 43.26 billion
Automotive Semiconductor Market Size, Share, Growth Analysis, By Component(Processors, Sensors, Memory, Discrete Power), By Vehicle Type(Passenger Vehicles, Commercial Vehicles), By Application(Chassis, Powertrain, Safety, Telematics & Infotainment), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2174 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
162
|Figures:
77
Automotive Semiconductor Market Insights
Global Automotive Semiconductor Market size was valued at USD 43.26 billion in 2022 and is poised to grow from USD 46.8 billion in 2023 to USD 87.2 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).
Growing electrification of the automotive industry is setting the tone for automotive semiconductor demand outlook in the future. Automotive semiconductors are chips and integrated circuits made only to be used in vehicles. The growing use of advanced digital technologies in vehicles and the rising use of advanced sensors are contributing to the growing sales of automotive semiconductors. High investments in the development of new semiconductors specially made for automotive applications will also help automotive semiconductor market grow in the future. Moreover, advancements in semiconductor technology around the world are also expected to boost the demand for automotive semiconductors across the study period and beyond. Contrastingly, high costs of manufacturing and regulatory compliance concerns are estimated to hamper automotive semiconductor sales in the long run.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger Vehicle
Fastest Growth
Light Commercial Vehicle (LCV)
Growth Rate
8.1% CAGR
Global Automotive Semiconductor Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Semiconductor Market Segmental Analysis
Global automotive semiconductor market is segmented by component, application, vehicle type, and region. Based on component, the market can be segmented into processors, sensors, memory, discrete power, and others. Based on application, the market is segmented into chassis, powertrain, safety, telematics & infotainment, and body electronics. Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Component
Processors are crucial to any kind of digital system to process data and generate information or provide output. This helps processors to account for a major chunk of the global automotive semiconductor market share. Rising complexity of software used in vehicles to provide better infotainment and features is boosting the demand for better processors and helping this segment’s dominance.
On the other hand, the demand for sensors is slated to increase at a robust pace across the study period and beyond. Rising demand for automated safety systems and growing popularity of autonomous vehicles are expected to bolster the market growth via this segment. Moreover, advancements in sensor technology development will also alter market development trajectory over the coming years.
Analysis by Vehicle Type
Passenger vehicles account for majority of sales in the automotive industry, which allows this segment to spearhead automotive semiconductor demand outlook. Growing disposable income of people around the world, rising sales of luxury vehicles, and use of advanced electronic systems are estimated to help this segment maintain its high market share through 2031.
On the other hand, the demand for automotive semiconductors in commercial vehicles is projected to surge at an impressive pace over the coming years. Imposition of strict safety mandates for commercial vehicles is pushing automotive companies to install advanced safety systems in commercial vehicles. Growing number of electric commercial vehicles will also contribute to high automotive semiconductor demand in this segment.
Global Automotive Semiconductor Market By Vehicle Type
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Automotive Semiconductor Market Regional Insights
India, China, Japan, and South Korea are home to some of the biggest automotive semiconductor manufacturers countries in the world. Rising electrification of vehicles, evolving consumer preferences, and growing use of advanced safety and infotainment systems are also slated to help this region’s dominance going forward. This region also benefits from the already existing robust semiconductor manufacturing industry in countries such as Taiwan, China, and Japan.
Meanwhile, the demand for automotive semiconductor in the North America region is slated to increase at a notable pace over the coming years. High use of electric vehicles and growing demand for advanced telematics and infotainment are also contributing to the market growth in this region. Moreover, the presence of key automotive manufacturers in the United States makes it the top market for automotive semiconductor companies followed by Canada.
Global Automotive Semiconductor Market By Region
- Largest
- Fastest
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Automotive Semiconductor Market Dynamics
Drivers
Demand for Electric Vehicles
- High emphasis on sustainability and advancements in battery technology have helped the popularity of electric vehicles. Demand for automotive semiconductors is also projected to be driven by electric vehicles in the future.
Better Infotainment and Safety
- Consumers around the world are demanding vehicles with improved safety and infotainment systems, which is also expected to boost sales of automotive semiconductors over the coming years.
Restraints
High Costs of Manufacturing
- Manufacturing semiconductors, especially for automotive applications, is an expensive task as not many companies have the resources to develop a semiconductor product from scratch. These high costs are slated to slow down automotive semiconductor demand outlook.
Regulatory Compliance
- Automotive semiconductors are subject to different regulations as compared to normal semiconductors owing to their specialized applications and different working environment. Ensuring compliance with all these regulations could hurt market growth potential.
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Automotive Semiconductor Market Competitive Landscape
Automotive semiconductor companies should target the development of novel automotive silicon-on-chip (SoC) to maximize their business and stay relevant in the future. Collaborating or partnering with semiconductor manufacturers will also be a popular strategy for automotive semiconductor types of market players. Investing in the development and sales of automotive semiconductors for electric vehicles is also a lucrative opportunity for all automotive semiconductor providers going forward.
Top Player’s Company Profiles
- Infineon Technologies AG (Germany)
- NXP Semiconductors N.V. (Netherlands)
- Renesas Electronics Corporation (Japan)
- STMicroelectronics N.V. (Switzerland)
- Texas Instruments Incorporated (USA)
- Robert Bosch GmbH (Germany)
- Analog Devices, Inc. (USA)
- ON Semiconductor Corporation (USA)
- Toyota Motor Corporation (Japan)
- Continental AG (Germany)
- DENSO Corporation (Japan)
- BorgWarner Inc. (USA)
- Allegro Microsystems, Inc. (USA)
- Micron Technology, Inc. (USA)
- Qualcomm Incorporated (USA)
- Microchip Technology Incorporated (USA)
- ROHM Co., Ltd. (Japan)
- Murata Manufacturing Co., Ltd. (Japan)
- Toshiba Corporation (Japan)
- Hyundai Motor Company (South Korea)
Recent Developments
-
In November 2023, Valence Semiconductor announced the launch of VS6320 chipset, a USB3.2 Gen1 extension solution.
-
In May 2023, MACOM successfully finalized the acquisition of OMMIC SAS in France for a total of $41.7 million. This strategic move positions OMMIC SAS as the foundational element for MACOM's recently established European Semiconductor Center.
-
In April 2023, Bosch is set to acquire the assets of TSI Semiconductors, a U.S. chipmaker, as part of its strategy to broaden its semiconductor business, particularly focusing on silicon carbide chips (SiC). This move aligns with the expansion goals of the German engineering and technology giant.
Automotive Semiconductor Key Market Trends
- Cybersecurity: As digitization picks up pace the risk of cyber attacks also increases and this is also true for the automotive industry. Therefore, automotive semiconductor companies should invest in the development of automotive semiconductors with built-in security features to stay future-ready and stand out from the competition.
Automotive Semiconductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, high investments in the electrification of the automotive industry and growing advancements in semiconductor technologies are estimated to drive automotive semiconductor demand. However, regulatory compliance and high costs of development and manufacturing are slated to hamper automotive semiconductor sales outlook in the long run. The presence of key automotive and semiconductor manufacturing companies in the Asia Pacific region helps it emerge as the leading market in the world for automotive semiconductor providers. Integration of cybersecurity features and other technologies could help automotive semiconductor companies stand out from the competition.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 43.26 billion |
| Market size value in 2031 | USD 87.2 billion |
| Growth Rate | 8.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Semiconductor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Semiconductor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Semiconductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Semiconductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Semiconductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Semiconductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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