The global Automotive Semiconductors Market is set on a steady growth track following the triple connectivity trends of vehicular automation, connectivity, and electrification. The areas of automotive electronics, powertrain, safety, communication electronics, and driver assistance are expected to witness elevated demand over the forecast period. Automotive semiconductors are expected to be the focal elements for vehicle manufacturers to differentiate their product and augment overall proficiency and vehicle performance. Achieving sophisticated performance levels and improved operating efficacies from the automobile has been the sole motive of automotive semiconductor technology. Semiconductor usage in automotive sector is developing predominantly owing to emissions legislations and rules, which dictate emissions extenuation in the engine and in exhaust after-treatment systems that need advance sensors for their operations.
The automotive semiconductors market is scattering in dynamic environs to virtually embrace every automated collaboration system in a vehicle. The automotive semiconductors application areas are foreseen to refurbish the mode of maneuvering sophisticated automotive processes. One of the key factors contributing to the growth of automotive semiconductors industry is surging emphasis on adoption of environment-friendly alternative fuel vehicles such as hybrid electric automobiles. Surging demand for automotive infotainment systems is expected to drive the demand of market under focus. Firm enhancements in chassis & safety features along with powertrain & convenience facilities are anticipated to derive the demand of semiconductor equipment in automobiles. Furthermore, surging emphasis on green technology, policies imposing greater perilous safety arrangements in cars such as lane departure warning, airbags, agile automotive proposals for more efficacy, directives for efficient route-finding, and communication systems are foreseen to drive automotive semiconductors market.
High initial financial investment to acquire sophisticated systems in the automobile, certain degree of sound technical expertise, high component replacement costs, and automobile maintenance are expected to emerge as major restraints to hinder the automotive semiconductors industry over next seven years.
The global automotive semiconductor market is foreseen to prosper owing to the growing use of navigation and infotainment equipment in automobiles.
The reduced profit margin triggered by pricing pressures, decreased demand for eight-bit and 16-bit micro-controller chips, selective demand for semiconductor with integrated functionality, and coordination with work procedures of automotive manufacturers are foreseen to hamper the automotive semiconductors market growth over the forecast period.
The automotive semiconductors market can be segregated on the basis of applications into powertrains, chassis control & body electronics, driver assistance systems, infotainment systems, and aftermarket locomotive semiconductor paraphernalia. Based on product type, the automotive semiconductors market can be segmented into discretes, optoelectronics, sensors, analog devices, logic devices, microcontrollers, microchips & memory, and Digital Signal Processors (DSPs).
The automotive semiconductors market is anticipated to witness a high growth as the technology initiates integration with multiple automotive control systems and adjacent arcades. The automotive semiconductors industry is expected to grow by striving to mend liquidity by plummeting fundamental costs in response to tighter credit situations.
The North American and the European markets are anticipated to report substantial growth in the automotive semiconductor applications industry due to increasing government concerns regarding public safety & security along with environmental safety. The Middle East and African markets would mature over the forecast period following a shift in focus towards energy-efficient mode of transport. Asia Pacific and China regions are expected to witness market traction rate at a normal distribution growth rate in terms of revenue owing to limited adoptability of sophisticated automobiles by these markets.
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