Automotive Chip Industry Growth Highlights:
Automotive chip industry growing at exponential CAGR of 9% during the forecast period.
Automotive chips are mounted on a vehicle to ensure the smooth functioning of body electronics, telematics and infotainment, powertrain, and chassis and safety systems. These chips are employed in a vehicle to cater to automotive applications, such as blind spot detection, advanced driving assistance system, lane-change assistance, and parking assistance. The factors that influence the demand for automotive chip are automotive-semiconductor sales growth, a booming automotive industry coupled with the increasing registration of new cars, and stringent government regulations regarding automotive safety and emission. On the other hand, the major opportunities in the market are the increasing sales of hybrid and electric vehicles and the growing presence of auto-manufacturers in emerging economies. The risk of operational failures might restrain the market growth.
The global automotive chip market is estimated to register 12.87% CAGR during the forecast period, 2018–2023. In 2017, the market was led by Asia-Pacific with a 51.8% share, followed by Europe and North America with shares of 23.6% and 17.9%, respectively.
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The global automotive chip market has been segmented based on product, application, vehicle type, propulsion, and region. On the basis of product, the analog IC segment accounted for the largest market share of 42.4% in 2017, with a market value of USD 14,947.3 million; it is projected to register 15.93% CAGR during the forecast period. On the basis of application, the body electronics segment accounted for the larger market share of 27.4% in 2017, with a market value of USD 9,660.9 million; it is projected to witness 12.24% CAGR during the forecast period. On the basis of vehicle type, the passenger car segment accounted for the larger market share of 71.2% in 2017, with a market value of USD 25,132.7 million; it is projected to exhibit 12.32% CAGR during the forecast period. On the basis of propulsion, the ICE vehicle segment accounted for the larger market share of 95.57% in 2017, with a market value of USD 34,072.2 million; it is projected to exhibit 12.67% CAGR during the forecast period.
Key Players
The key players operating in the global automotive chip market share are Robert Bosch GmbH (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), Texas Instruments Incorporated (US), NXP Semiconductors (Netherlands), ROHM Semiconductor (Japan), and Denso Corporation (Japan).
Market Research Analysis
Asia-Pacific held the largest market share in the global automotive chip market.
Asia-Pacific is the prime hub for automobile manufacturers, owing to the growth of the automotive sector in China, Japan, and India. The automotive sector is a major contributor to the GDP of these countries. The growing demand for automotive semiconductor devices, especially for luxury and premium cars is expected to increase the need for automotive chips during the forecast period. Moreover, the established players in the region are investing more to develop innovative products and enhance existing products, which opens new opportunities for global automotive manufacturers. Europe is expected to be the second largest market during the forecast period, owing to the increasing demand for system-on-chip (SoC) systems in vehicles and the cooperation between OEMs, tier one automotive manufacturers, and integrated circuit (IC) manufacturers.
Scope of the Report
This report provides an in-depth analysis of the global automotive chip market growth, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, the Middle East Africa, and the rest of the world . The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive chip market by its type, rated current, end-use, and by region.
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