Automotive Semiconductor Market Estimated to Grow with a Healthy CAGR During Forecast Period

According to our latest market study on “Automotive Semiconductor Market Forecast to 2027 – Global Analysis – by Component, Application, Vehicle Type, and Geography,” the market is expected to grow from US$ 34.89 billion in 2017 to reach US$ 76.93 billion by 2027; it is anticipated to grow at a CAGR of 8.3% from 2018 to 2027.

Due to an increase in the number of road accidents globally, the demand for safety features such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tyre pressure monitors, airbags, and telematics is on the rise. Automotive semiconductors are a key component of a variety of advanced driver assistance systems (ADAS) technologies, allowing ADAS systems to identify and classify items in the vehicle’s path and then advise the driver about the surrounding environment and road conditions. Moreover, based on calculations done using semiconductors and other components, these systems can autonomously decelerate or stop the car based on road conditions.

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The global automotive semiconductor market is segmented on the basis of component, vehicle type, application, and region. Based on component, the global market is segmented into optical, sensors & actuators, memory, microcontrollers, analog ics, and logic and discrete power devices. Based on vehicle type, the global automotive semiconductor market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. Based on application, the global automotive semiconductor market has been segmented into advanced driver assistance systems, body electronics, infotainment, powertrain, and safety systems.

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NVIDIA Corporation, Intel Corporation, NXP Semiconductors N.V., Infineon Technologies AG, Rohm Semiconductor, Texas Instruments Inc., Renesas Electronics Corporation, Robert Bosch GmbH, ON Semiconductor Corporation, and STMicroelectronics N.V. are among the major companies operating in the automotive semiconductor market.

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