New York, United States, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The Global Semiconductor Market size was valued at USD 41.78 billion in 2021 and is expected to USD 110.93 billion 2030, reach at a CAGR of 6.2% from 2021, as per research study published by Spherical Insights & consulting.
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Additionally, it is projected that over the next few years, both luxury and mass-produced automobiles would incorporate more electronic components, leading to steady market growth. Other factors impacting the market's growth include the development of linked cars, entertainment systems, automotive safety systems, and fuel efficiency regulations. Every year, almost 1.3 million people die in auto accidents. Furthermore, the number of young individuals dying from injuries they sustained in car accidents has increased. The rise in traffic collisions that have occurred all over the world has undoubtedly boosted the demand for various safety features. Airbags, traction control, electronic stability control, lane departure warnings, parking help, collision avoidance systems, tyre pressure monitors, and telematics are some of the features in this category.
The operational failures of automotive semiconductors under extreme climatic circumstances, such as extremely cold and excessive heat, are the key barrier restricting the market for automotive semiconductors. When there is a lot of heat, problems can occur because semiconductors have a tendency to melt or break, which increases resistance and makes the signal too weak. This is the main reason behind failures. On the other hand, the resistance drops and the system stabilises when the system is heated to the proper temperature. Furthermore, excessive cold harms semiconductors since it impairs their functionality.
Browse key industry insights spread across 190 pages with 129 market data tables and figures & charts from the report “Global Automotive Semiconductor Market Size, Share By Component (Processor, Sensor, Memory), By Vehicle Type (Passenger Vehicle, LCV, HCV), By Application (Chassis, Powertrain, Safety, Telematics & Infotainment, Body Electronics), By Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) Analysis and Forecast 2021 – 2030.” in detail along with the table of contents
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COVID-19 Impact on the Global Automotive Semiconductor Market
The COVID-19 pandemic outbreak and the accompanying measures taken to lower the infection rate led to significant commercial volatility, which had a negative impact on sectors across the globe. Numerous industries, particularly the automotive semiconductor market, have suffered serious setbacks as a result of the epidemic. The quantity of vehicles sold as well as the extent of electrification and digitization of such vehicles have a significant impact on semiconductor sales for automotive applications. Car sales have dropped significantly as a result of the COVID-19 pandemic outbreak. The shrinking sales of both passenger and commercial vehicles had a negative impact on the growth of the automotive semiconductor market. The manufacturing and delivery of raw materials for the electric car industry were also delayed as a result of impending delays in international export and import shipments.
Global Automotive Semiconductor Market, By Component
On the basis of component, the global automotive semiconductor market is segmented into processor, sensor, discrete power, and memory. It is projected that the discrete power, memory, processor, and sensor segments will be crucial in fostering market expansion. Over the projected period, the discrete power segment is anticipated to develop at the fastest rate. According to projections, the second-fastest expanding component category will be memory devices. This increase in demand for power components like IGBT and MOSFET can be largely ascribed to the ongoing electrification of the primary uses of automobiles, such as the powertrain. More memory devices per car are required in order to programme multiple control systems into an autonomous system as a result of the increased demand for enhanced safety and advanced features in automobiles.
Global Automotive Semiconductor Market, By Vehicle Type
Based on the vehicle type, the global automotive semiconductor market is segmented into passenger vehicle, LCV and HCV. The market for light commercial vehicles is predicted to rise at a CAGR of 4.6% during the projected period, opening up enormous potential for market expansion on a global scale. Over the next eight years, it is anticipated that the rise of light and heavy commercial vehicles would be driven by rapid urbanisation, improvements in the road infrastructure, regulatory rules for purchasing commercial vehicles, and expansion of mining and e-commerce operations.
Global Automotive Semiconductor Market, By Region
Based on the region, the global automotive semiconductor market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these, Asia Pacific region is dominating the market. Among these, Asia Pacific region is witnessing the fastest growth. The automobile industry is predicted to grow the fastest throughout the anticipated time due in part to its expansion in developing countries like Japan, China, and India. China dominated the Asia Pacific market in 2020, and it is expected that it would continue to do so during the forecasted period. The region's growing e-commerce industry is also anticipated to increase demand for commercial vehicles in the future years.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Infineon Technologies AG, Robert Bosh GmbH, NXP Semiconductors, STMicroelectronics, ROHM Co. Ltd., Toshiba Corporation, Texas Instruments Incorporated, Denso Corporation, On Semiconductor Corporation and Other Prominent key Players.
Some Key Developments Offered in the Automotive Semiconductor Market Report:
January 2022: For ADAS, e-Mobility, automotive E/E designs, and cost-effective AI programmers, Infineon Technologies has announced the debut of the new AURIX TC4x family in 28 nm.
February 2022: For use in electric vehicles and centralized electronic structures, STMicroelectronics has unveiled a new line of automotive microcontrollers (MCUs). Its Stellar E MCUs provide on-chip high speed control loop processing and are specifically made for next-generation software defined EVs.
June 2022: In order to provide major power supplies for ADAS, the powertrain, automobile infotainment, and the body, ROHM has introduced a new regulator (LDO) that operates consistently.
February 2022: Robert Bosch intends to invest in a Semiconductor manufacturing facility in Reutlingen by taking into account the present chip storage as well as the rising demand employed in IoT and mobility apps.
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