Automotive Semiconductor Market to reach USD 109.66 Bn at a CAGR of 8.4 percent by 2030 Says Maximize Market Research

Automotive Semiconductor Market to reach USD 109.66 Bn at a CAGR of 8.4 percent by 2030 Says Maximize Market Research

“Automotive Semiconductor Market”
Automotive Semiconductor Market was valued at USD 62.35 Bn in 2023 and is expected to reach USD 109.66 Bn by 2030, at a CAGR of 8.4 % during the forecast period.

Automotive Semiconductor Market size of the Asia Pacific region is expected to dominate the market during the forecast period. Automotive Semiconductor Market analysis was conducted by dividing it into Vehicle Type, Component, Fuel Type and Application. The bottom-up approach was used to estimate the Automotive Semiconductor Market size.

Maximize Market research, a leading Electronics business consultancy and research firm has published a report on the “Automotive Semiconductor Market”. The total market opportunity for Automotive Semiconductor Market was USD 62.35 Bn in 2023 and is expected to grow at a CAGR 8.4 percent through the forecast period, reaching USD 109.66 Bn by 2030. As per the Maximize Market Research report, the global Automotive Semiconductor Market is expected to be dominated by the Asia-Pacific region to grow at a significant growth rate over the forecast period.

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Automotive Semiconductor Market Scope and Research Methodology

Market Size in 2023: USD 62.35 Billion

Market Size in 2030: USD 109.66 Billion

CAGR: 8.4 Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 220

No. of Tables: 138

No. of Charts and Figures: 191 

Segment Covered: By Vehicle Type, Component, Fuel Type and Application

Regional Scope: North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR

The report includes a detailed analysis of the Automotive Semiconductor Market. The competitive analysis in the report includes a company overview, financial performance, product portfolio, and strategies of the key players in the Automotive Semiconductor industry. Key insights provided in the report are the major drivers of the Market, the challenges faced by the market participants, and growth prospects in the Market across the world. The Automotive Semiconductor Market report covers a detailed analysis of the investments of market players to increase their global presence in the industry, which makes it an investor’s guide.

The segments covered in the report are Vehicle Type, Component, Fuel Type and Application. Primary and Secondary research method was used to collect data for the Automotive Semiconductor market report. Primary research was conducted to validate the findings from the secondary research method. The Automotive Semiconductor size was estimated by using a bottom-up approach.

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Automotive Semiconductor Market Overview

The Automotive Semiconductor market is expected to witness significant growth by 2030, with a compound annual growth rate (CAGR) of 8.4% during the forecast period (2023 – 2030). The strategic integration of semiconductors within vehicles facilitates the efficient operation of various components, which increases the Automotive Semiconductor Market. As cars evolve with advanced features like ADAS, infotainment, connectivity, and electric powertrains, the need for Automotive Semiconductors increases, which fuels the demand for Automotive Semiconductor manufacturers.

Automotive Semiconductor Market Dynamics

Modern vehicles feature high-tech electronics and functionalities aimed at aiding drivers on their travels. In-car GPS technology has particularly advanced in the last decade, relying on modern semiconductors integrated into vehicles to greatly drive the growth of the Automotive Semiconductor Market. Semiconductor chips play a vital role in Engine Control Units (ECUs), which are integral to modern vehicles. Numerous ECUs are distributed throughout the vehicle, each assigned to specific tasks, primarily overseeing essential engine performance parameters. Within vehicles, semiconductors are utilized for analyzing data from engine temperature and pressure sensors, fine-tuning fuel injection for optimal combustion, optimizing ignition timing, and overseeing emissions management. After decades of development, Silicon Carbide (SiC) is quickly becoming the top choice material for electric vehicle (EV) manufacturers. Its popularity arises from its capacity to reduce conduction and switching losses, along with its higher maximum operating temperature. SiC is already powering millions of EVs on roads worldwide, substantially contributing to the growth of the Automotive Semiconductor Market.

High cost of vehicles to limit Automotive Semiconductor Market growth

The automotive industry has been steadily integrating electronics into vehicles in innovative ways, enhancing safety features like radar and collision avoidance, automatic braking, infotainment systems such as satellite radio and Bluetooth, navigation through GPS mapping, onboard computers, and the emerging technology of self-driving cars. Consequently, there’s been a significant surge in demand for electronic components.

Compared to conventional vehicles, electric and hybrid cars utilize a higher amount of semiconductor content. These types of vehicles require various components, including application-specific integrated circuits, high-performance microcontrollers, power MOSFETs, microprocessors, among others. As a result, the increasing electronic integration in automobiles presents lucrative growth opportunities for the market.

Automotive Semiconductor Market Regional Insight

Asia Pacific dominated the market in 2023 and is expected to hold the largest Automotive Semiconductor Market share over the forecast period. China led the global charge in electric vehicles (EVs) and other new-energy vehicles, experiencing a significant 38% increase in sales, reaching a total of 9.49 million vehicles. The term “new-energy vehicles,” originating in China, encompasses plug-in hybrids and fuel cell vehicles, directly contributing to the growth of the China Automotive Semiconductor Market. In emerging markets such as India and Southeast Asia, rising disposable incomes and urbanization are fuelling demand for automotive electronics, further driving the need for semiconductors tailored to regional preferences and regulation

Automotive Semiconductor Market Segmentation

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)

Passenger car segment dominated the market in 2023 and is expected to hold the largest Automotive Semiconductor Market share over the forecast period. The passenger car is the major segment with the highest production and demand globally. Passenger cars comprise sedans, hatchbacks, station wagons, sport utility vehicle (SUVs), multi-utility vehicles (MUVs), and vans.

By Component:

  • Processor
  • Analog IC
  • Discrete Power Device
  • Sensor
  • Memory Device
  • Others

Based on Component, Analog IC segment dominated the market in 2023 and is expected to hold the largest Automotive Semiconductor Market share over the forecast period. The increasing electrification of the powertrain segment is not only creating substantial demand for power devices but also presenting a significant opportunity for the growth of supporting analog ICs in the years ahead.

By Fuel Type

  • Gasoline
  • Diesel

By Application

  • Powertrain
  • Safety
  • Body Electronics
  • Chassis
  • Telematics and infotainment
  • Others

Automotive Semiconductor Manufacturers includes:

  • NXP: Eindhoven, Netherlands
  • Infineon: Neubiberg, Germany
  • Robert Bosch GmbH: Gerlingen, Germany
  • STMicroelectronics: Geneva, Switzerland
  • ASM Technologies: Almere, Netherlands
  • Intel: Santa Clara, California, United States
  • Qualcomm: San Diego, California, United States
  • Texas Instruments: Dallas, Texas, United States
  • Applied Materials: Santa Clara, California, United States
  • Nvidia: Santa Clara, California, United States
  • AMD: Santa Clara, California, United States
  • Analog Devices: Norwood, Massachusetts, United States
  • Broadcom: San Jose, California, United States
  • Ford: Dearborn, Michigan, United States
  • Micron Technology: Boise, Idaho, United States
  • Allegro: Manchester, New Hampshire, United States
  • Fuji Electric: Tokyo, Japan
  • Renesas: Tokyo, Japan
  • Toshiba: Tokyo, Japan
  • DENSO: Kariya, Japan
  • MosChip Technologies: Hyderabad, India
  • ROHM: Kyoto, Japan
  • TSMC (Taiwan Semiconductor Manufacturing Company): Hsinchu, Taiwan
  • Tata Elxsi: Bangalore, India

Key questions answered in the Automotive Semiconductor Market are:

  • What is Automotive Semiconductor?
  • What is the current growth rate of the Automotive Semiconductor Market?
  • Who are the key players in the Automotive Semiconductor Market?
  • What are the factors affecting growth in the Automotive Semiconductor Market?
  • Who held the largest market share in Automotive Semiconductor Market?
  • What is the demand pattern for the Automotive Semiconductor Market?
  • What are the key trends in Automotive Semiconductor?
  • What are the strategies used by competitors in the Automotive Semiconductor Market?
  • What are the growth prospects in developing countries for the Automotive Semiconductor Market?
  • Which segment is expected to witness the fastest growth and why in the Automotive Semiconductor Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Type, Process, Application and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Electronics research firm, has also published the following reports:

VLSI Semiconductor MarketVLSI Semiconductor Market size was valued at USD 57.22 Bn. in 2023 and the total VLSI Semiconductor revenue is expected to grow by 6.1% from 2024 to 2030, reaching nearly USD 86.61 Bn. The rising need for high-tech electronic equipment in different sectors such as customer electronics, cars, health care, and communication is the important driver.

Semiconductor Memory Market: Semiconductor Memory Market was valued at US$ 105.33 Bn. in 2023 and the market size is estimated to grow at a CAGR of 7.23% over the forecast period. The growing installation of data centers throughout the world is expected to increase demand for memory devices using semiconductors, owing to high storage requirements from a variety of businesses.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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