USD 43.26 billion
Global Automotive Semiconductor Market Size, Share, Growth Analysis, By Component(Microcontrollers (MCUs), Memory Devices), By Vehicle(Passenger Vehicles, Commercial Vehicles), By Application(Powertrain, Chassis) - Industry Forecast 2024-2031
Report ID:
SQMIG45I2174 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
97 |
Figures:
76
Global Automotive Semiconductor Market Insights
Global Automotive Semiconductor Market size was valued at USD 43.26 billion in 2022 and is poised to grow from USD 46.8 billion in 2023 to USD 87.2 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).
In recent years, the global automotive semiconductor market has been changing consumer preferences and demands by technological advancements and the evolution of the automotive industry.
A surge in electric vehicles (EVs), autonomous driving features, and connectivity solutions is fueling the demand for advanced semiconductor technologies. The integration of complex systems, such as Advanced Driver Assistance Systems (ADAS) and infotainment, is pushing semiconductor innovation.
Additionally, the industry is witnessing a shift towards more efficient and specialized semiconductors for specific automotive applications. The global shortage of semiconductor chips has, however, posed challenges, impacting production capacities for automotive manufacturers. Despite challenges, the market's future is promising, driven by the continuous development of smart and connected vehicles.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Microcontrollers (MCUs)
Fastest Growth
Connectivity ICs
Growth Rate
8.1% CAGR
Global Automotive Semiconductor Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Automotive Semiconductor Market By component($ Bn)
Global Automotive Semiconductor Market By component (%)
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Global Automotive Semiconductor Market Segmental Analysis
The global automotive semiconductor market is segmented into four major segments i.e. by component, vehicle, application, and region. Based on components, it is divided into microcontrollers (MCUs), memory devices, analog ICs, sensors, connectivity ICs, power management ICs. Based on vehicle type, it is bifurcated as passenger vehicles, commercial vehicles, electric vehicles (EVs), hybrid vehicles. Based on application it is segregated into, powertrain, chassis, advanced driver assistance systems (ADAS), safety systems, infotainment and telematics, and others. Based on region, the market is segmented into Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa.
Analysis by Component
Microcontrollers (MCUs) play a central role in controlling various functions within vehicles, from engine management to safety systems. Their ubiquitous integration across automotive applications positions them as a dominant component type. With the increasing prevalence of connected and electric vehicles, the demand for MCUs for managing complex systems such as infotainment, connectivity, and power distribution contributes to their dominance.
As vehicles increasingly incorporate advanced safety features like adaptive cruise control and automatic emergency braking, the demand for various sensors (radar, LiDAR, cameras) surges, driving the rapid growth of this component type. The race towards autonomous driving relies heavily on sensor technologies. As the automotive industry progresses in developing self-driving capabilities, the demand for sensors to facilitate perception and decision-making accelerates.
Analysis by Application
The increasing global emphasis on road safety and the implementation of stringent safety regulations drive the dominance of ADAS. Features like collision avoidance, lane departure warning, and automatic emergency braking become integral, fostering the widespread adoption of ADAS technologies. Growing consumer awareness and demand for enhanced safety features contribute to the dominance of ADAS applications. Consumers prioritize vehicles equipped with advanced safety systems, influencing the market towards ADAS-centric developments.
The surge in consumer expectations for seamless connectivity and infotainment services propels the rapid growth of this segment. Features like in-car entertainment systems, navigation, and connected services are increasingly becoming key factors influencing consumer vehicle choices. The integration of smart technologies within vehicles, including advanced infotainment systems and telematics for real-time data transmission, drives the fast growth of this application segment. Consumers seek a connected and tech-savvy driving experience.
Global Automotive Semiconductor Market By component, 2023 (%)
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Global Automotive Semiconductor Market Regional Insights
Asia-Pacific, particularly China, Japan, and South Korea, serves as a global automotive manufacturing hub. The concentration of major automotive OEMs and the production of a substantial volume of vehicles contribute to the region's dominance in the automotive semiconductor market. The region is at the forefront of adopting advanced automotive technologies, including electric vehicles (EVs), autonomous driving features, and connected car solutions. This technological leadership propels the demand for automotive semiconductors, solidifying Asia-Pacific's dominant position.
North America is witnessing significant advancements in electric and autonomous vehicles. The rapid development and adoption of these technologies contribute to the region's fast-growing demand for automotive semiconductors. The tech-savvy nature of consumers in North America, particularly in the United States, results in a high demand for vehicles equipped with the latest technologies, including advanced infotainment systems, autonomous features, and connectivity solutions.
Global Automotive Semiconductor Market By Region, 2024-2031
- Largest
- Fastest
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Global Automotive Semiconductor Market Dynamics
Drivers
Increasing Proliferation of Advanced Technologies
- The proliferation of advanced technologies within the automotive sector, such as electric vehicles (EVs), autonomous driving features, and connectivity solutions, serves as a primary driver. The increasing integration of complex systems like Advanced Driver Assistance Systems (ADAS) and sophisticated infotainment systems propels the demand for innovative semiconductor solutions. Additionally, the global automotive industry's evolution towards more energy-efficient and eco-friendly alternatives contributes to the demand for specialized semiconductors. The rising consumer expectations for safety, efficiency, and connectivity in vehicles further fuel the market's expansion.
Restraints
High Ongoing Global Semiconductor Chip Shortage
- One of the main market restraints is the ongoing global semiconductor chip shortage, disrupting the production capacities of automotive manufacturers and leading to delays and supply chain disruptions. The intricate and sophisticated nature of automotive semiconductors poses another constraint, as designing and manufacturing these complex components requires advanced technologies and substantial investments. Moreover, the increased demand for electric vehicles (EVs) and the rapid evolution of autonomous driving technologies place additional pressure on semiconductor supply chains.
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Global Automotive Semiconductor Market Competitive Landscape
The competitive environment of the automotive semiconductor market is dynamic and characterized by intense rivalry among key players and a dynamic ecosystem shaped by technological advancements. Innovation is a key competitive factor. The landscape is marked by a constant race to develop cutting-edge semiconductor solutions to cater to the increasing demand for electric vehicles (EVs), advanced driver assistance systems (ADAS), and connectivity features. Additionally, semiconductor companies are forging partnerships to enhance their capabilities in addressing the complexities of automotive electronics. The emergence of new entrants and the role of traditional semiconductor giants create a competitive atmosphere, fostering innovation and driving the evolution of the Automotive Semiconductor Market.
Top Player’s Company Profiles
- Infineon Technologies AG (Germany)
- NXP Semiconductors N.V. (Netherlands)
- Renesas Electronics Corporation (Japan)
- STMicroelectronics N.V. (Switzerland)
- Texas Instruments Incorporated (USA)
- Robert Bosch GmbH (Germany)
- Analog Devices, Inc. (USA)
- ON Semiconductor Corporation (USA)
- Toyota Motor Corporation (Japan)
- Continental AG (Germany)
- DENSO Corporation (Japan)
- BorgWarner Inc. (USA)
- Allegro Microsystems, Inc. (USA)
- Micron Technology, Inc. (USA)
- Qualcomm Incorporated (USA)
- Microchip Technology Incorporated (USA)
- ROHM Co., Ltd. (Japan)
- Murata Manufacturing Co., Ltd. (Japan)
- Toshiba Corporation (Japan)
- Hyundai Motor Company (South Korea)
Recent Developments
- In May 2023, MACOM successfully finalized the acquisition of OMMIC SAS in France for a total of $41.7 million. This strategic move positions OMMIC SAS as the foundational element for MACOM's recently established European Semiconductor Center.
- In April 2023, Bosch is set to acquire the assets of TSI Semiconductors, a U.S. chipmaker, as part of its strategy to broaden its semiconductor business, particularly focusing on silicon carbide chips (SiC). This move aligns with the expansion goals of the German engineering and technology giant.
Global Automotive Semiconductor Key Market Trends
Rising Consumer Awareness and increased use of clean label products
- The escalating integration of semiconductors in electric vehicles (EVs) as automakers shift towards sustainable mobility solutions. The rise of advanced driver-assistance systems (ADAS) continues to drive semiconductor innovation, fostering the development of safer and more autonomous driving experiences. The advent of connected vehicles and the evolution towards smart mobility contribute to the growing demand for semiconductor solutions enabling enhanced connectivity, infotainment, and telematics features. Furthermore, there's a notable trend towards semiconductor specialization, with companies developing tailored solutions for specific automotive applications.
Global Automotive Semiconductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global automotive semiconductor market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by the increasing integration of advanced technologies in vehicles, particularly in electric and autonomous systems. However, it faces challenges due to the global semiconductor chip shortage and the complexity of manufacturing sophisticated automotive semiconductors. Key product types include microcontrollers, memory devices, and sensors. Asia-Pacific dominates the market, driven by robust automotive manufacturing. Key trends encompass the surge in electric vehicles, heightened demand for connectivity solutions, and the continuous development of advanced driver assistance systems. Despite growth drivers, the market contends with supply chain disruptions and the need for resilient semiconductor manufacturing.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 43.26 billion |
| Market size value in 2031 | USD 87.2 billion |
| Growth Rate | 8.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Automotive Semiconductor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Automotive Semiconductor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Automotive Semiconductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Semiconductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Semiconductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Automotive Semiconductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Automotive Semiconductor Market Report Snapshots
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