Published Date: 18-Nov-2021
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According to a new report Global Automotive Semiconductor Market, published by KBV research, The Global Automotive Semiconductor Market size is expected to reach $60.5 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
The discrete power, memory, processor, and sensor segments would be critical in fueling the growth of the automotive semiconductor market during the forecasting period. The discrete power segment is expected to display the fastest growth rate throughout the forecast years. The memory devices would showcase the second-fastest growth rate during the forecast period. It is due to the current electrification of the key applications of automobiles like powertrain which is highly demanding power components like MOSFET and IGBT.
In 2020, the passenger vehicles segment garnered the maximum revenue share of the automotive semiconductor market. The segment is expected to exhibit a similar kind of trend during the forecasting period. Factor such as increasing demand for passenger cars worldwide is responsible for the growth of the segment. Additionally, the growth of the segment would witness bright prospects due to the surge in deployment of automotive infotainment systems in passenger cars.
In 2020, the APAC emerged as the leading region by obtaining the highest revenue share in the automotive semiconductor market. Moreover, the region is expected to display the fastest growth rate over the forecast years. This growth is attributed to the booming automotive sector, particularly in developing countries like China, India, and Japan. In the APAC region, China has been the leading market and is likely to display a similar kind of trend during the forecast period. In addition, the demand for commercial vehicles would be driven by the thriving e-commerce industry of the region.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of NXP Semiconductors N.V., Infineon Technologies AG, Robert Bosch GmbH, Texas Instruments, Inc., Toshiba Corporation, Analog Devices, Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Rohm Semiconductors Co., Ltd., and STMicroelectronics N.V.
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