The automotive semiconductor market is poised for substantial growth in the forthcoming years, with a projected value of $97.3 billion in 2028 and a compound annual growth rate (CAGR) of 12.1%. This data is derived from The Business Research Company’s exhaustive report, “Automotive Semiconductor Global Market Report 2024”, which provides a comprehensive analysis of market trends, size, and growth projections up to 2033.
The surge in demand for electric and hybrid vehicles, which heavily rely on semiconductor technology, is a key driver of this growth. Additionally, the Asia-Pacific region is expected to dominate the automotive semiconductor industry. Leading industry players in this market include Infineon Technologies AG, STMicroelectronics N.V, Texas Instruments Inc., Renesas Electronics Corp, and NXP Semiconductors N.V.
The automotive semiconductor market is segmented based on component type, vehicle type, propulsion type, application, and geography. Components include processors, analog IC, discrete power, sensors, memory, and others. Vehicle types encompass passenger vehicles, light commercial vehicles, and medium and heavy commercial vehicles, while propulsion types include internal combustion engine, electric, and hybrid. Applications of automotive semiconductors include powertrain, safety, body electronics, chassis, telematics, and infotainment.
Unfamiliar with automotive semiconductors? These electronic components are essential for producing semiconductor devices required for a wide range of automotive products. Their ability to alter electrical conductivity when subjected to magnetic or electrical fields makes them indispensable in various applications and devices within the automotive industry.
The comprehensive market report by The Business Research Company includes an executive summary, market characteristics, trends and strategies, macroeconomic scenario, growth analysis, competitor landscape, company profiles, as well as future outlook and potential analysis. Additionally, similar reports on Automotive PCB, automotive repair and maintenance, and automotive cables are available for review.
For more in-depth insights, the report can be accessed through The Business Research Company’s website. Furthermore, a free sample of the report, including graphs and tables, can be obtained by contacting the company. Contact details and links to their social media platforms are provided for further inquiries.
In conclusion, the automotive semiconductor market is poised for significant growth, driven by the increasing demand for electric and hybrid vehicles. With a comprehensive market report available, industry players and stakeholders can gain valuable insights into market trends, forecasts, and key players to make informed decisions regarding investments and business strategies.