Automotive semiconductor market is anticipated to grow at a significant CAGR of 14.9% during the forecast period (2024-2031). The market growth is attributed to the growing demand for microcontrollers, digital signal processors, application-specific integrated circuits, electric control units, automotive sensors, and MEMS (micro-electro-mechanical systems) in the automotive industry globally driving the growth of the market.According to the Semiconductor Industry Association (SIA), in March 2024, the automotive industry continues to be an important sector propelling semiconductor demand throughout the decade.The current generation of cars, including EVs, can have between 1,000 – 3,500 semiconductors. This number is expected to grow as consumers continue to prioritize advancements in vehicle safety systems (like advanced driver assistance systems (ADAS)), vehicle connectivity, and electrification.
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The increasing demand for vehicle electrification and lightweight include semiconductor solutions for power electronics that contribute to energy conversion and efficient energy management.The wide range of power semiconductor devices and technologies with constant improvements in both their electro-thermal characteristics and their packages.The automotive lightweight trends, being driven by sustainability, cost, and performance, that create the enormous demand for lightweight materials and design concepts, are assessed as a part of the circular economy solutions in modern mobility and transportation.Power-efficient new materials such as gallium nitride (GaN) and silicon carbide (SiC) have surpassed the high-power applications required for electric vehicles (EVs).
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Semiconductor Market Report Segment
By Component
- Processor Analog IC
- Discrete Power Device
- Sensor
- Memory
- Lighting Device
By Vehicle Type
- Passenger Car
- LCV
- HCV
By Application
- Powertrain
- Safety
- Body Electronics
- Chassis
- Telematics and Infotainment
Global Automotive Semiconductor Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive semiconductor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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