Automotive Semiconductor Market Size, Share | Industry Trends By 2027
Posted by mahesh on September 29th, 2022
Automotive Semiconductor Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period.
Due to an increase in the number of road accidents globally, the demand for safety features such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tyre pressure monitors, airbags, and telematics is on the rise. Automotive semiconductors are a key component of a variety of advanced driver assistance systems (ADAS) technologies, allowing ADAS systems to identify and classify items in the vehicle's path and then advise the driver about the surrounding environment and road conditions. Moreover, based on calculations done using semiconductors and other components, these systems can autonomously decelerate or stop the car based on road conditions. Road accidents are a key cause of death worldwide, and death rates from traffic accidents have risen dramatically in recent years.
The automotive semiconductor market was valued at US$ 34.89 billion in 2017 and is expected to reach US$ 76.93 billion by 2027; it is estimated to register a CAGR of 8.3% from 2018 to 2027.
According to a report issued by the World Health Organization in 2021, about 1.3 million people die each year in traffic accidents. Furthermore, road traffic injuries that result in death are more common among youths. These reasons are causing a surge in demand for vehicle safety measures. Automobile companies are developing and deploying safety features to suit the needs of their customers. HELLA (a business that makes cutting-edge lighting and electronics components) revealed the production schedule for the latest 77 GHz radar technology in February 2020. The upcoming vehicles will now be more differentiated by electronics and software-defined features, and the optimum integration of software and hardware across the whole car-to-cloud system.
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Top Listed Companies in Automotive Semiconductor Market are –
1. NVidia Corporation
2. Intel Corporation
3. NXP Semiconductors N.V.
4. Infineon Technologies AG
5. Rohm Semiconductor
6. Texas Instruments Inc.
7. Renesas Electronics Corporation
8. Robert Bosch Gmbh
9. ON Semiconductor Corporation
10. STMicroelectronics N.V.
A thoroughgoing evaluation of the market restrains is included in the report which represents the difference to drivers of the market and gives scope for strategic insights and developments. The research study has amalgamated the growth analysis of different aspects that enhance the market growth scenario. It constitutes key market drivers, restraints and trends that transform the market in either a positive or negative manner.
The Automotive Semiconductor Market Company Profiles are individually represented for all major participants and indices such as Financial Performance, Strategic Initiatives, Product Portfolio & Company Overview.
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About the Authormahesh
Joined: September 20th, 2022
Articles Posted: 71
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