Automotive Semiconductor Market

Automotive Semiconductor Market size reached USD 44.1 billion in 2022 and is estimated to reach USD 98.0 billion in 2030 and the market is estimated to grow at a CAGR of 10.5% from 2023-2030.

Overview of the Automotive Semiconductor Market Report

A semiconductor is a substance that has a conductivity between conductors and insulators and are used extensively in electronic circuits. Semiconductors are used in a variety of automotive applications that include safety, fuel efficiency, interior, and connectivity.

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Market Dynamic

Key Drivers and Emerging Trends

The global automotive semiconductor market is projected to grow at a prominent CAGR during the forecast period. This can primarily be attributed to the growing production of automotive and increasing application of automotive semiconductors in active safety & autonomous driving, connectivity and In-Vehicle-Networking (IVN), LED lighting, vehicle electrification, fuel economy & emissions reduction, and powertrain, body, and interiors. In addition, the increasing electrification of vehicles and the development of connected cars with advanced electronics, are expected to drive the demand for semiconductors, thereby, supporting the growth of the automotive semiconductor market share.

According to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with a 40% year-on-year increase and accounted for 2.6% of the global car sales. Organizations including, AVERE (The European Association for Electromobility), the World Electric Vehicle Association (WEVA), the Society Of Manufacturers Of Electric Vehicles (SMEV), Australian Electric Vehicle Association (AEVA), and the Electric Auto Association are increasingly promoting Electromobility across the world. This is expected to drive the growth of the automotive semiconductor market size. Moreover, increasing development of advanced features in vehicles including ADAS (Advanced Driver Assistance Systems), 3D mapping applications, cell phone integration, heads-up displays, autonomous driving aids, and comfort owing to the increasing focus on the safety in the ultra-modern vehicles, which is expected to drive the demand for semiconductors in the automotive applications.

Restraint in the Automotive Semiconductor Market

However, increase in the overall cost of vehicles is expected to be one of the major restraining factors in the growth of the automotive semiconductor market in the coming years. Additionally, the recent outbreak of COVID 19 has caused disruption in the supply chain and decline in the automotive production, which is expected to hamper the automotive semiconductor market growth over the forecast period.

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Vehicle Type – Segment Analysis

Based on vehicle type, the passenger vehicle is expected to grow at a higher CAGR during the forecast period owing to its growing personal and commercial use including ridesharing, fleet management, and others. Moreover, increasing installation of automotive infotainment systems in passenger cars for providing navigational services, hand-free phone connectivity, voice controlling, parking assistance, climate control, two-way communications tools, access to the internet and others, is further energizing the segment growth. Several companies including Tesla Inc., BMW Group, Nissan Motor Corporation, and Volkswagen AG provide electric passenger cars with these semiconductors.

Component – Segment Analysis

Based on component, sensors segment is expected to dominate the market primarily due to the increasing use of sensors in vehicle electrification, transmission systems, Light Detection and Ranging (LiDAR), powertrain, cameras, and safety systems in vehicles. Moreover, semiconductors facilitate the processing of data gathered by automotive sensors in order to make real time driving decisions, which is expected to stimulate the market growth.

Application – Segment Analysis

Based on the application, safety application segment is projected to grow at a faster CAGR over the forecast period. This is mainly due to the growing requirements for semiconductors in emerging automotive technologies that include autonomous driving, advanced driving assistance systems (ADAS), blind spot detection, and LIDAR mapping technology, and other safety features designed to avoid collisions and accidents.

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Regional – Segment Analysis:

Based on region, North America is expected to lead the global automotive semiconductor market during the forecast period owing to the rapid economic development, increasing demand for electric vehicles, and rising adoption of intelligent transportation system in North America. On the other hand, Asia-Pacific is projected to grow at a notable CAGR over the forecast period. This is primarily due to the increasing automotive manufacturing in India, China, South Korea, and Japan. Moreover, according to the International Energy Agency (IEA), China accounted for 47% of the global electric car sales in 2019, which is expected to drive the market growth in Asia-Pacific.

Top Market Players

Several Leading players operating in the market include NXP Semiconductors N.V, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics NV, Robert Bosch GmbH, Texas Instruments Incorporated, Semiconductor Components Industries, LLC, Toshiba Corporation, Elmos Semiconductor SE, and Hyundai Motor Group, among others. 

Key Developments:

• • In 2020, Hyundai Mobis, a part of Hyundai Motor Group completed the acquisition of the semiconductor division of Hyundai Autron. With this acquisition, Hyundai Mobis is expected to develop the capability of designing, developing and verifying semiconductors for vehicles in the future automotive field.
  • In 2020, Elmos Semiconductor SE, a manufacturer of semiconductor products in Germany partnered with Rutronik Elektronische Bauelemente GmbH, one of the leading distributors in Europe to focus on the international sales channels for the distribution of the automotive semiconductor solutions.

Segments Covered in the Report:

The global Automotive Semiconductor Market has been segmented on the basis of vehicle type, component, application, and regions. Based on vehicle type, the market is segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and others. Based on component, the market is segmented into processors, sensors, memory devices, integrated circuits, discrete power devices, and others. Based on application, the market is segmented into powertrain, safety, body electronics, chassis, and telematics and infotainment. 

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Key questions answered in this research report:

• • At what pace is global Automotive Semiconductor Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Automotive Semiconductor Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Automotive Semiconductor Market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various application areas of global Automotive Semiconductor Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 44.1 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Vehicle Type, By Component, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	NXP Semiconductors N.V, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics NV, Robert Bosch GmbH, Texas Instruments Incorporated, Semiconductor Components Industries, LLC, Toshiba Corporation, Elmos Semiconductor SE, and Hyundai Motor Group, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automotive Semiconductor Market by Vehicle Type

• • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Others

Global Automotive Semiconductor Market by Component

• • Processors
  • Sensors
  • Memory Devices
  • Integrated Circuits
  • Discrete Power Devices
  • Others

Global Automotive Semiconductor Market by Application

• • Powertrain
  • Safety
  • Body Electronics
  • Chassis
  • Telematics and infotainment

Global Automotive Semiconductor Market by Region

• • North America Automotive Semiconductor Market (Option 1: As a part of the free 25% customization)

    • By Vehicle Type
    • By Component
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Automotive Semiconductor Market (Option 2: As a part of the free 25% customization)

    • By Vehicle Type
    • By Component
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Automotive Semiconductor Market (Option 3: As a part of the free 25% customization)

    • By Vehicle Type
    • By Component
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Automotive Semiconductor Market (Option 4: As a part of the free 25% customization)

    • By Vehicle Type
    • By Component
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Semiconductor Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • NXP Semiconductors N.V
  • Renesas Electronics Corporation
  • Infineon Technologies AG
  • STMicroelectronics NV
  • Robert Bosch GmbH 
  • Texas Instruments Incorporated
  • Semiconductor Components Industries, LLC
  • Toshiba Corporation
  • Elmos Semiconductor SE
  • Hyundai Motor Group