Automotive Chips Market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Vikas Kumar
- January 10, 2022
- AUTOMOTIVE, NEWS
- Automotive Chips Market, Automotive Chips Market Growth, Automotive Chips Market news, Automotive Chips Market share, Automotive Chips Market size, Automotive Chips Market Trend
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Automotive Chips Market is expected to grow at a CAGR of around 10% during the forecast period 2021-2027. The market stood at around US$ 30 billion in 2020. Increasing disposable income has improved lifestyle of individuals, the trend has increased the overall demand for personal passenger cars. To add on, automotive manufacturers around the world are focusing more on luxury passenger vehicles equipped with advanced features such as advanced driver assistance systems, advanced infotainment systems, enhanced body control and comfort, among others. Global automotive chips market is majorly driven by the steady growth in the vehicle sales with the overall demand for the advance electric systems. Chips are crucial components of vehicles that facilitate a wide array of features, such as navigation, infotainment and traction control. Premium cars with advanced safety and entertainment features need more chips compared to the base models
For a detailed analysis of the market drivers browse through https://univdatos.com/report/automotive-chips-market/
The pandemic caused significant economic and financial disruptions on automotive industry. : The COVID-19 pandemic and various infection control measures have made a great impact on the regular operation of global integrated circuit companies, which caused the “Chips shortage” Phenomenon in the automotive industry. Affected by both the COVID-19 and trade frictions, the industrial chain normality of the long-term tight supply and demand balance between upstream chip suppliers and downstream car manufacturers in the automotive industry was severely affected thus negatively impacting the market.
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Based on component type, the Automotive Chips Market is segmented into logic ICs, analog ICs, microcontrollers & microprocessors, and memory. Microcontrollers & microprocessors category is expected to witness significant growth during the forecast period. Increasing awareness regarding shared connectivity & mobility as well as spiraling demand for fully autonomous cars and automatic parking is anticipated to provide a fillip to the market.
Based on application type, the market is bifurcated into chassis, powertrain, safety, telematics & infotainment, and body electronics. In 2020, The safety segment is expected to poised to register the highest CAGR during the forecast period owing to rising implementation of vehicle safety standards coupled with several regulations pertaining to integration of passenger safety systems in vehicle.
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For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. China was the largest motor vehicle producer in 2020; the country produced more than 25.2 million passenger cars and commercial vehicles in the year. U.S. was the second largest producer of motor vehicles producing 8.8 million passenger cars and commercial vehicles in 2020.
Automotive Chips Market Segmentation
Market Insight, by Component Type
- Logic ICs
- Analog ICs
- Microcontrollers & Microprocessors
Market Insight, by Application Type
- Telematics & Infotainment
- Body Electronics
Market Insight, by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Market Insight, by Region
- North America Automotive Chips Market
- Rest of North America
- Europe Automotive Chips Market
- Rest of Europe
- Asia-Pacific Automotive Chips Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Automotive Chips Market
Top Company Profiles
- Robert Bosch GmbH
- Microchip Technology Incorporated
- Texas Instruments Incorporated
- NXP Semiconductors
- Infineon Technologies AG
- Micron Technology Inc.
- NVIDIA CORPORATION
- STMicroelectronics N.V.
- Renesas Electronics Corporation
- Maxim Integrated Products Inc.