Global Automotive Semiconductor Market

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 News

  • 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.
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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).

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. '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)'

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.

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.

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.

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