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Automotive Semiconductor Market Size, Share, Analysis Report 2030

Automotive semiconductor market is expected to grow at a CAGR of 12% during the forecast period of 2022 to 2030. Despite a global shortage of automotive semiconductors, market revenues are expected to top $115 billion by 2030, up from $36 billion in 2020. The introduction of advanced driver assistance systems (ADAS), telematics, and infotainment, as well as a growing predisposition to buy electric vehicles, contribute to the growth of the global automotive semiconductor industry.

The expansion of the market around the world is being driven by a number of different factors, including the rapid developments occurring in the automotive industry, the rise in demand for safety features in automobiles, and the intervention of innovative technologies for advanced user interface (UI). In addition, there are a number of factors that function as a barrier for the expansion of the market all over the world. Some of these factors include operational failures in extreme climatic conditions, high beginning costs, and complex structures. Even though sales of automotive declined drastically in the first half of 2020 due to the impact of covid-19, the demand returned with the continued rise in 2022, and is still robust today. However, throughout the forecast period there is significant scope for market expansion as a result of factors such as the increase in demand for electric and hybrid vehicles as well as the rise in the number of technological advancements and innovations in ADAS.

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Both the semiconductor supply chain and the automobile market are uncertain due to Russia’s invasion of Ukraine. Ukraine contributes 25% to 35% of the world’s pure neon gas, and Russia provides 25% to 30% of the semiconductor-grade palladium. This has increased uncertainty and is causing significant gap between demand and supply. However, during the projected period, market players are expected to mitigate these obstacles by short- and long-term demand planning and an effective technological map.

In 2021, the WHO reported that 1.3 million people died in motor vehicle crashes. Youth deaths from car accidents are significant. As the frequency of traffic collisions around the world has risen, so has the demand for safety features. These include parking assistance, collision avoidance, lane departure warnings, traction control, ESC, tyre pressure monitors, airbags, and telematics. The application of semiconductors therefore in safety application dominated the market in 2021 and expected to remain dominant during the forecast period.

Cost reductions in lithium-ion batteries, sensors, and microcontrollers will drive demand for electric vehicles during the forecast period. In addition, electric vehicles help reduce carbon emissions and air pollution, thus governments in all nations are supporting them. 1% of newly purchased cars are electric, but as component prices fall, buyers and manufacturers are leaning toward them. Electric vehicle is expected to be the fastest growing segment during the forecast period.

Micro components led the market revenues in 2021 among other components. The rising use of micro components (processors) in automotive systems such as anti-lock braking systems (ABS), tyre pressure monitoring systems (TPMS), electronic stability control (ESC), and others is expected to fuel the growth of this industry during the forecast period 2022 to 2030. As a result, micro components will likely hold a large market share. During the forecast period, demand for discrete semiconductors is also expected to rise. Safety applications are expected to dominate the global market for automotive semiconductors throughout the forecast period, continuing to hold the same position that it held in 2021. In the worldwide automotive semiconductor sector, the safety segment is predicted to develop faster than any other application, contributing over 25% by 2030.

North America continued to be the global leader in 2021. North America is expected to consume the most automotive semiconductors globally. Government efforts to modernise the auto sector and the rising use of IoT in vehicles are expected to boost the automotive semiconductor market in this region.  The rising popularity of electric cars in Europe is expected to boost demand for electric car chips during the forecast period in this region. Due to Germany’s large number of automobiles manufacturers, it is expected to emerge as most dominated region within Europe. Rising disposable income and changing customer preferences are expected to enhance auto sales in East Asia through 2030 and therefore is expected to be the fastest growing geographic segment during the forecast period. Semiconductor manufactures for autos in this region should benefit from the expanding requirement for automotive safety systems like ADAS, TPMS, ABS, and others, as well as the growing sales of premium vehicles. Due to China’s dominant automotive and semiconductor industry that is well established in this region, it is expected to lead the market revenues within East Asia.

To meet the global demand for computer chips used in cars, suppliers of automotive semiconductor companies are expanding their production and manufacturing facilities. R&D, raw material supply, assembly and manufacture, system integration, marketing and sales, auto manufacturing, end users, and post-sale service make up the automotive semiconductor market ecosystem. The world’s major automotive semiconductor producers are adopting various market strategies documented in the report to enhance their market report. The key companies in this market include Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), and NXP Semiconductors N.V (Netherlands) among others. The system integrators include Texas Instruments, Inc. (US), Denso Corp. (Japan), Delphi Automotive PLC (UK), and Standard Motor Products, Inc. (US), among others.

Key Market Trends:

  • Automotive semiconductor market is expected to grow at a CAGR of 12% during the forecast period of 2022 to 2030.
  • Despite a global shortage of automotive semiconductors, market revenues are expected to top $115 billion by 2030, up from $36 billion in 2020.
  • Micro components led the market revenues in 2021 among other components.
  • Safety applications are expected to dominate the global market for automotive semiconductors throughout the forecast period, continuing to hold the same position that it held in 2021.
  • North America continued to be the global leader in 2021.
  • Rising disposable income and changing customer preferences are expected to enhance auto sales in East Asia through 2030 and therefore is expected to be the fastest growing geographic segment during the forecast period.
  • The key companies in this market include Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), and NXP Semiconductors N.V (Netherlands) among others. The system integrators include Texas Instruments, Inc. (US), Denso Corp. (Japan), Delphi Automotive PLC (UK), and Standard Motor Products, Inc. (US), among others

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