Automotive Semiconductor Market size worth $ 65.27 Billion, Globally, by 2028 at 4.96% CAGR: Verified Market Research®

- The increased production of vehicles in various countries, the demand for safety measures in ultra-modern automobiles fueling, rapid advancements in the automobile industry, as well as the development of advanced user interface (UI), are driving the market growth.

JERSEY CITY, N.J., March 10, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Automotive Semiconductor Market" By Component (Processors, Memory Devices, Sensors), By Vehicle Type (Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), By Fuel Type (Diesel, Gasoline, Electric & Hybrid), By Application (Chassis, Automotive, Comfort/Entertainment Unit), and By Geography. According to Verified Market Research, the Global Automotive Semiconductor Market size was valued at USD 44.33 Billion in 2020 and is projected to reach USD 65.27 Billion by 2028, growing at a CAGR of 4.96% from 2021 to 2028.

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Global Automotive Semiconductor Market Overview

The increased production of vehicles in various countries has indirectly boosted the market's expansion. While 92 million automobiles were produced globally in the year 2019, the curve is expected to trend upward during the forecast period, significantly benefiting the global automotive semiconductor industry. The market for automotive semiconductors is predicted to expand as customers want more performance and best-in-class features in their automobiles. This is also a result of the increasing use of electrical technologies in the automotive industry. An increase in the safety features demands fueling the growth of the Automotive Semiconductor Market. The demand for safety measures in ultra-modern automobiles has been steadily increasing.

Advanced Driver Assistance Systems (ADAS), which help drivers avoid accidents due to collisions, require the use of extremely reliable automotive semiconductors. Besides that, the introduction of automated cars is expected to be one of the major factors driving up demand for automotive semiconductors. With sophisticated electronic systems continuing to have an impact on today's automotive industry, semiconductor demand is predicted to increase. Additionally, rapid advancements in the automobile industry, as well as the introduction of innovative technologies for advanced user interface (UI), are driving the market forward globally.

Key Developments

• June 2021, The S32R294 radar and S32G2 vehicle network processors from NXP Semiconductors NV are new S32 family systems for vehicle architecture. These processors are based on TSMC's advanced 16 nm FinFET process technology and enable over-the-air upgrades, secure cloud connectivity, and vehicle health management, allowing carmakers to develop fully programmable and connected automobiles in the future.
• January 2021, NXP Semiconductors NV announced a new AHPC (Automotive High-Performance Compute) development platform known as BlueBox 3.0.
• July 2021, ON Semiconductor has launched a new AutoX Gen5 self-driving platform based on its LiDAR and image sensing technologies.

Key Players

The major players in the market are NXP Semiconductors N.V., Renesas Electronics Corp., Infineon Technologies AG, STMicroelectronics N.V., Robert Bosch GmbH, Texas Instruments, Inc., ON Semiconductor Corp., ROHM Co., Ltd., Toshiba Corp., and Analog Devices, Inc.

Verified Market Research has segmented the Global Automotive Semiconductor Market On the basis of Component, Vehicle Type, Fuel Type, Application, and Geography.

• Automotive Semiconductor Market, By Component
• Processors
• Memory Devices
• Sensors
• Integrated Circuits
• Discrete Power Devices
• Others
• Automotive Semiconductor Market, By Vehicle Type
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• Passenger Vehicles (PV)
• Automotive Semiconductor Market, By Application
• Chassis
• Automotive
• Comfort/Entertainment Unit
• Body Electronics
• Safety
• Others
• Automotive Semiconductor Market, By Fuel Type
• Diesel
• Gasoline
• Electric & Hybrid
• Automotive Semiconductor Market By Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 10 Semiconductor Manufacturers transforming with the advanced technologies

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