Automotive Semiconductor Market Size to Rise at 18.26% CAGR by 2032, Value to Cross USD 345.54 Billion – Says The Brainy Insights

The global automotive semiconductor market size is expected to reach a value of USD 345.54 billion by 2032, at a CAGR of 18.26% during the forecast period (2023- 2032), as highlighted in a report published by The Brainy Insights. The key market players listed in the automotive semiconductor market report with their sales, revenues, strategies and others.

Newark, Sept. 11, 2023 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global automotive semiconductor market is expected to grow from 64.58 Billion in 2022 to USD 345.54 Billion by 2032, at a CAGR of 18.26% during the forecast period 2023-2032. The increasing demand for advanced driver assistance systems (ADAS) and infotainment systems is driving the growth of the automotive semiconductor market. Asia Pacific region emerged as the largest market for the global automotive semiconductor market with a 37.21% share of the market revenue in 2022. With most of the market share in terms of vehicle production and sales, the region has emerged as a key automotive hub. The key driver of this trend is China’s expanding automotive market. This market has grown to become the world’s largest vehicle manufacturer and, as a result, the largest consumer of automotive semiconductors.

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Automotive Semiconductor Market Size by Vehicle Type (Passenger Car, Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV)), Component (Analog IC, Processor, Discrete Power Device, Memory Device, Sensor, Lighting Device), Application (Safety, Powertrain, Body Electronics, Telematics and infotainment, Chassis), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Leading companies in the industry include Analog Devices Inc., Entegris, GEO Semiconductor, Inc., Indie Semiconductor, Infineon Technologies AG, Intel Corporation, Lattice Semiconductor, Microchip Technology Inc., NVidia Corporation, ON Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co., Ltd., Sanmina, Semtech, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corp. and Wafer Space among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

Report Scope

Report Attribute	Details
Market Size in 2022	USD 64.58 Billion
Projected Market Size in 2032	USD 345.54 Billion
CAGR Growth Rate	18.26%
Base Year	2022
Forecast Years	2023-2032
Key Market Players	Analog Devices Inc., Entegris, GEO Semiconductor, Inc., Indie Semiconductor, Infineon Technologies AG, Intel Corporation, Lattice Semiconductor, Microchip Technology Inc., NVidia Corporation, ON Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co., Ltd., Sanmina, Semtech, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corp. and Wafer Space among others
Key Segment	Vehicle Type, Component and Application
Major Regions Covered	Asia Pacific, Europe, South America, North America, and Middle East & Africa.
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The vehicle type segment is divided into Passenger Car, Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV). During the forecast period, passenger cars are anticipated to hold the largest market share. The high demand for passenger cars around the world, particularly in Asia-Oceania, is to account for this growth. In nations such as India, China, Indonesia, Thailand, and Malaysia, for instance, expanding middle-class population and improved disposable income have driven demand for passenger cars. The component segment includes analog IC, processor, discrete power device, memory device, sensor, lighting device. The discrete power device segment is anticipated to grow at the fastest CAGR of around 19% over the forecast period. The reason for this sharp increase in discrete power device market share is the increasing electrification of major automotive applications such as powertrain, which is driving up demand for power components such as MOSFET and IGBT. Whereas the need for more memory devices per vehicle to programme the multiple control systems into an autonomous one is being driven by the demand for enhanced safety and advanced features in automobiles. The application segment includes safety, powertrain, body electronics, telematics and infotainment, chassis. The safety segment led the market with a market share of 34.22% in 2022. Electronic Stability Control (ESC), blind spot detection, lateral control/support, side collision avoidance, driver monitoring, Intelligent Speed Adaptation (ISA), Collision Avoidance System (CAS), Adaptive Cruise Control (ACC), and other safety systems are among the most common in automobiles.

The market’s growth will be influenced by increasing demand for advanced comfort and safety systems. ADAS (Advanced Driver Assistance Systems) sales are expected to grow in the future, due to the increasing demand for safety features that prevent accidents and collisions by providing technologies that alert the driver to potential problems and avoid collisions by implementing safeguards and taking control of the vehicle. Semiconductors are used in ADAS to improve the system’s functionality.

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About the report:

The global pharmaceutical packaging market is analysed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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