Transparency Market Research has announced the addition of the “Automotive Semiconductors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024" report to their offering.
Albany, NY -- (SBWIRE) -- 11/24/2017 -- Increasing safety systems, not only passive safety e.g. seat belts, but mainly by electronic such as air bags, anti-lock braking systems (ABS), electronic stability control (ECS), blind spot detection (BSD), adaptive cruise control (ACC) and lane change assist (LCA) among others. These all intelligent functions mentioned above require a semiconductor device to perform their function. The main function of a semiconductor is to conduct electricity easily in one direction among other more specific functions.
Regulations regarding safety and emission will drive the market for connected components and devices in the vehicle to ensure monitoring and reporting of vehicle emission complying to the regulations set by the government. They require increasingly powerful semiconductors to ensure that vehicles' performance is in compliance. Thus the above reason in turn is helping the market for automotive semiconductors to grow during the forecasted period from 2016 – 2024.
Moreover vehicle standards such as New Car Assessment program (NCAP) that gives safety ratings to new vehicles manufactured as star-ratings, is boosting the car manufacturers to provide more and more electronic components to provide more safety and security systems for the vehicle. Obtaining the highest level of five star rating can act as a strong selling point for the vehicles. Its achievement relies on complex and sophisticated assisted driving systems that require significant semiconductor content for these systems to function.
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The major drivers of automotive semiconductors market are growing numbers of electronic devices in a car to add passenger safety features and driver assistance systems. Even connected cars concept and other electronic devices present in the car that need to coordinate with the electronic control unit (ECU) are helping the growth of automotive semiconductors market during the forecasted period.
For the purpose of detailed analysis, the global automotive semiconductor market can be segmented on the basis of vehicle type, component, application and geography. Based on vehicle type, the market can be bifurcated into passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HCV) and hybrid vehicle. The passenger car segment can be further classified into compact and sub-compact vehicle, sedan, and SUV among others. On the other hand, various components used in automotive semiconductor includes processors, analog ICs, sensors, discrete power and memory. In automotive, different types of semiconductors also finds it application in telematics & infotainment, safety and powertrain. In addition, information regarding current market situation as well as future predictive growth trend of various above mentioned segments is also provided across different regions such as North America, Europe, Asia Pacific, Middle-East and Africa (MEA) and Latin America.
Based on component, the global semiconductor vehicle market is majorly driven by the discrete power segment during the forecast period from 2016 to 2024. Increasing demand for electrification of the major automobile applications such as powertrain and ABS among others is the most important factor anticipated to accelerate the demand of power components such as IGBT and MOSFET.
Again by application, telematics & infotainment segment held the largest market share in 2015. Increasing competition among various vehicle manufacturers to offer better comfort and convenience to their customers is encouraging different automobile manufacturers to use various semiconductor components for telematics and infotainment applications.
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Geographically, Asia Pacific region is predicted to dominate the automotive semiconductor market during the forecast period from 2016 to 2024. Rapid technological advancement taking place in the automotive sector in Asia Pacific region in respect of increased safety, reduced fuel consumption and powertrain applications is the primary factor anticipated to drive the demand of semiconductors used in automotive.
Some of the major players operating in the automotive semiconductor market includes Infineon technologies (Germany), NXP Semiconductors N.V. (Netherlands.), Texas Instruments Inc. (U.S.), Toshiba Corporation (Japan.), Robert Bosch GmbH (Germany) and ON Semiconductor Corp. (U.S.) among others.