Automotive Chip Market Worth $56.24 Billion by 2025 | CAGR: 10.7%: Grand View Research, Inc.
SAN FRANCISCO, July 3, 2018 /PRNewswire/ --
The global automotive chip market size is expected to reach USD 56.24 billion by 2025, according to a study conducted by Grand View Research, Inc., exhibiting a CAGR of 10.7% during the forecast period. Rising awareness regarding energy-efficient lighting systems and burgeoning sales of luxury vehicles equipped with navigation and infotainment systems are creating an upswing in the demand for automotive chips.
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Spiraling demand for commercial and passenger vehicles is driving the automotive chip market. Automotive chip enhances a vehicle's security system and in-vehicle infotainment system. It also ensures safety and comfort of occupants including the driver. For instance, the SYNC technology of Ford enables driver to make hands-free phone calls and lets them control the entire navigation and infotainment system using their voice. These benefits are expected to stoke the growth of the market. However, complex and expensive technology and network challenges in developing economies are estimated to hinder the growth of the market over the forecast period.
In the North America region, the automotive chip market is likely to expand at a CAGR of 9.2% over the forecast period. Prominent vendors in the market include Microchip Technology Inc.; Texas Instruments Incorporated; Robert Bosch GmbH; NXP Semiconductors; and Infineon Technologies AG.
Browse full research report with TOC on "Automotive Chip Market Size, Share & Trends Analysis Report By Component Type (Analog ICs, Logic ICs, Microcontroller, Memory), By Application Type, By Vehicle Type (Passenger, Commercial), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/automotive-chip-market
Further Key Findings From the Report Suggest:
- Soaring demand for connectivity and safety features is one of the key trends boosting market growth
- The passenger car vehicle type segment is anticipated to emerge as the fastest growing segment owing to burgeoning demand for SUVs
- On the basis of application, the body electronics segment is poised to hold a prominent position in the market throughout the forecast period due to increasing digitization of vehicles and rising awareness among individuals regarding vehicle electronic accessories
- The safety application type segment is likely to post the highest CAGR during the same period due to continuous strengthening of vehicle safety standards
- Some of the key companies in the market are Microchip Technology Inc.; Texas Instruments Incorporated; Robert Bosch GmbH; NXP Semiconductors; and Infineon Technologies AG.
Browse related reports by Grand View Research:
- Automotive Thermal System Market - The automotive thermal system market is projected to witness significant growth over the forecast period.
- Pneumatic Tire Market - The global pneumatic tire market size was USD 192.40 billion in 2014 is expected to witness significant growth.
- Smart Parking System Market - The global smart parking system market size was valued at USD 81.3 million in 2015.
- Armored Vehicle Market - The global armored vehicle market size was estimated at USD 22.2 billion in 2014.
Grand View Research has segmented the global automotive chip market based on component type, application type, vehicle type, and region:
- Automotive Chip Component Type Outlook (Revenue, USD Million, 2014 - 2025)
- Logic ICs
- Analog ICs
- Microcontrollers & Microprocessors
- Memory
- Automotive Chip Application Type Outlook (Revenue, USD Million, 2014 - 2025)
- Chassis
- Powertrain
- Safety
- Telematics & Infotainment
- Body Electronics
- Automotive Chip Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
- Passenger Vehicles
- Commercial Vehicles
- Automotive Chip Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Mexico
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- India
- China
- Japan
- Rest of the World (RoW)
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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