Automotive Semiconductor Market to Reach $113.94 Billion, Globally, by 2030 at 11.8% CAGR: Allied Market Research

Innovation in the automotive industry and rise in demand for safety functionalities in vehicles drive the global automotive semiconductor market growth.

PORTLAND, Ore., Dec. 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Semiconductor Market by Component (Processor, Analog IC, Discrete Power, Sensor, Memory and Others), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Propulsion Type (Internal Combustion Engine and Electric) and Application (Powertrain, Safety, Body Electronics, Chassis, Telematics & Infotainment): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global automotive semiconductor industry generated $37.99 billion in 2020, and is expected to garner $113.94 billion by 2030, witnessing a CAGR of 11.8% from 2021 to 2030.

Drivers, restraints, and opportunities

Rapid developments in the automotive industry, surge in demand for safety features in automobiles, and intervention of innovative technologies for advanced user interface (UI) drive the growth of the global automotive semiconductor market. However, operational failures in extreme climatic conditions and high initial cost & complex structure hinder the market growth. On the other hand, increase in demand for electric and hybrid vehicles and technological advancements and innovation in advanced driver assistance system (ADAS) technology present new opportunities in the coming years.

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Covid-19 Scenario

• Manufacturing facilities in the electronics and semiconductors industry have been shut down due to lockdown measures, lack of sufficient workforce, and disruptions in supply chain across the globe. This led to reduced production volumes of semiconductors that can be used in the automotive sector.
• The demand of various components such as processors, sensors, and others in production of vehicles such as passenger cars, light commercial vehicles, and heavy commercial vehicles decreased significantly due to stoppage of production activities during the lockdown. However, the demand is expected to recover post-lockdown.
• Market players have been revising their business strategies to ensure business continuity and adopting quick response strategies to maintain the supply chain.

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The passenger car segment to continue its lead position throughout the forecast period

Based on vehicle type, the passenger car segment contributed to the highest share in 2020, accounting for nearly four-fifths of the global automotive semiconductor market, and is estimated to continue its lead position throughout the forecast period. This is attributed to increased sales volume of passenger cars across the globe. However, the light commercial vehicle segment is estimated to manifest the highest CAGR of 13.9% from 2021 to 2030. This is due to increased application of advanced technologies in LCVs worldwide.

The telematics and infotainment segment to maintain its dominance during the forecast period

Based on application, the telematics and infotainment segment accounted for the highest share in 2020, contributed to nearly one-third of the global automotive semiconductor market, and is expected to maintain its dominance during the forecast period. Moreover, this segment is estimated to portray the fastest CAGR of 14.0% from 2021 to 2030. This is due to increased utilization in vehicles with changes in user preferences. The research also analyzes the segments including powertrain, safety, chassis, and body electronics.

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North America accounted for the highest revenue share in 2020

Based on region, North America accounted for the highest market share in 2020, contributing to around two-fifths of the global automotive semiconductor market. This is due to increased production and sales of automotive vehicles that are equipped with advanced components & features including telematics, ADAS, and in-vehicle connected services. However, Europe is projected to contribute to the highest share in terms of revenue by 2030. On the other hand, Asia-Pacific is expected to witness the fastest CAGR of 15.9% during the forecast period. This is attributed to development of advanced vehicle-based technologies across the Asian countries.         

Leading market players

• Analog Devices, Inc.
• Infineon Technologies AG
• Micron Technology
• NXP Semiconductors N.V.
• On Semiconductor Corp.
• Renesas Electronics Corp.
• Robert Bosch GmbH
• ROHM Co., Ltd.
• STMicroelectronics N.V.
• Texas Instruments, Inc.

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