NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global automotive semiconductor market size is estimated to grow by USD 31.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.45% during the forecast period. Rising adoption of advanced driver assistance system (ADAS) features in vehicles is driving market growth, with a trend towards increasing developments in semi-autonomous and autonomous vehicles. However, lack of standard protocols poses a challenge.Key market players include Allegro MicroSystems Inc., Analog Devices Inc., BorgWarner Inc., Continental AG, DENSO Corp., Elmos Semiconductor AG, Infineon Technologies AG, Intel Corp., Microchip Technology Inc., Micron Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Texas Instruments Inc., and Toshiba Corp..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Key Market Trends Fueling Growth

The automotive semiconductor market is experiencing significant growth due to the increasing demand for integrated electronics in motor vehicles. Semiconductor technology plays a crucial role in vehicle electrification, with electric cars, electric vans, hybrid electric vehicles, and solar-powered vehicles becoming more popular. Advanced safety systems, comfort features, and emission control devices are key areas of focus. Tesla and other automakers are investing heavily in autonomous cars, utilizing advanced sensors like radar, LiDAR, and image sensors for accuracy. Power electronics, microprocessors, and connectivity devices are essential components. Security is a top concern, with potential threats like spoofing, evasion attacks, and poisoning attacks. Emission norms are driving the need for electronics in emission control. The passenger car segment, including sedans, hatchbacks, and vans, is a major market, with gasoline-powered engines also utilizing semiconductors for telematics and infotainment systems. Cable harnesses, network systems, and various types of ICs are integral to automotive electronics. 

Autonomous vehicles, also known as self-driving cars, utilize advanced technologies such as computers, the Internet, and smartphones to operate with minimal human intervention. These vehicles employ sensor-processing technologies, superior quality planning, adaptive algorithms, and communication systems to read and sense the environment. Companies are expanding production capacities to meet increasing demand, driven by reduced vehicle operating costs, travel convenience, and the encouragement of long-distance commutes. The integration of automation and connectivity technologies is revolutionizing the automotive industry. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The automotive semiconductor market is experiencing significant growth due to the increasing demand for integrated electronics in motor vehicles. Semiconductor content in vehicles is on the rise, driven by trends like vehicle electrification, advanced safety systems, and comfort features. Electric vehicles (EVs), hybrid electric vehicles (HEVs), solar powered vehicles, and electric cars/vans are leading this shift. Semiconductor technology plays a crucial role in telematics, on-board infotainment, vehicle handling, safety features, emission control devices, luxury components, and more. Power electronics, microprocessors, advanced sensors (radar, LiDAR, image sensors), and connectivity devices are key components. However, challenges include ensuring accuracy, security, and reliability in these systems. Harmful exhaust emissions are a concern, leading to stricter emission norms. Autonomous cars face challenges like spoofing, evasion attacks, and poisoning attacks. Tesla, a major player, invests in advanced sensors and microprocessors. The passenger car segment, including sedans, hatchbacks, vans, and gasoline-powered engines, is undergoing digital transformation. Telematics and infotainment systems use cell phones and GPS receivers for location tracking, job dispatch, and vehicle diagnostics. Vehicle production units require cable harnesses, network systems, analog ICs, power devices, logic ICs, and other electronics.In the automotive semiconductor market, regulatory compliance is a significant challenge. Numerous regulations govern the production of automobiles, affecting both new and existing products. These regulations prioritize driver and passenger safety, theft prevention, and environmental impact. Each country or region sets its standards, requiring car companies to adapt their production processes for global distribution. This results in financial losses due to the need to establish multiple assembly units. Despite the financial burden, these regulations are essential for ensuring safety and compliance in the automotive industry.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This automotive semiconductor market report extensively covers market segmentation by

Application 1.1 Telematics and infotainment1.2 Powertrain1.3 Safety1.4 Body electronics1.5 ChassisVehicle Type2.1 Passenger vehicle2.2 Light commercial vehicle2.3 Heavy commercial vehicleGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Telematics and infotainment- The automotive semiconductor market is experiencing significant growth due to the increasing adoption of telematics and infotainment systems in vehicles. These systems combine telecommunications and information technology to monitor vehicle locations and movements using onboard diagnostic systems and GPS. They offer services such as safety, security, and navigation to passengers, making them essential for both passenger comfort and fleet management. Insurance companies and fleet management firms extensively use these systems for efficient transportation and logistics, enabling real-time fleet monitoring and reducing fuel consumption. The integration of cloud computing technology further enhances the capabilities of these systems, contributing to the market’s growth during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The automotive semiconductor market is experiencing significant growth due to the increasing integration of electronics in motor vehicles. Semiconductor technology plays a crucial role in enabling advanced features such as vehicle electrification, safety systems, comfort systems, telematics, on-board infotainment, and emission control devices. The market for semiconductor content in automotive applications is expected to expand as the demand for electric vehicles (EVs), hybrid electric vehicles (HEVs), and solar-powered vehicles continues to rise. EVs and HEVs require more semiconductor content due to their complex power electronics systems. Advanced safety features, luxury components, and emission norms are also driving the demand for semiconductors in the automotive industry. Environmental concerns and the need to reduce harmful exhaust emissions are further boosting the market for semiconductor technology in motor vehicles.

Market Research Overview

The automotive semiconductor market is experiencing significant growth due to the increasing integration of electronics in motor vehicles. Semiconductor technology plays a crucial role in enabling advanced features such as vehicle electrification, safety systems, comfort systems, and telematics in various types of vehicles including electric cars, electric vans, hybrid electric vehicles, solar powered vehicles, and luxury components in premium segment cars. Semiconductor content in motor vehicles includes power electronics, microprocessors, advanced sensors, and connectivity devices. The trend towards electric vehicles (EVs) and hybrid vehicles (HEVs) is driving the demand for semiconductors, as these vehicles require more sophisticated power electronics for battery management and motor control. Autonomous cars are also pushing the boundaries of semiconductor technology, requiring high-performance microprocessors, radar, LiDAR, and image sensors for accurate perception and reliable operation. However, security is a major concern in automotive semiconductors, with potential threats such as spoofing, evasion attacks, and poisoning attacks posing challenges to the industry. Automotive electronics include cable harnesses, network systems, analog ICs, power devices, and logic ICs. The passenger car segment includes sedans, hatchbacks, and vans, while gasoline powered engines continue to dominate the market. Telematics and infotainment systems, including cell phones and GPS receivers, are also driving the demand for semiconductors in the automotive industry. Environmental concerns and emission norms are also playing a role in the growth of the automotive semiconductor market, as semiconductors enable more efficient emission control devices and help reduce harmful exhaust emissions. The market is expected to continue growing as the automotive industry embraces the digital transformation and strives to meet the demands of consumers for safer, more connected, and more sustainable vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationTelematics And InfotainmentPowertrainSafetyBody ElectronicsChassisVehicle TypePassenger VehicleLight Commercial VehicleHeavy Commercial VehicleGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-semiconductor-market-to-grow-by-usd-31-29-billion-2024-2028-with-adas-adoption-report-on-ai-redefining-market-landscape—technavio-302315599.html

SOURCE Technavio