According
to the new market research report on the "Automotive Semiconductor Market by
Component (Processor, Analog IC, Discrete Power, Sensor, and Memory), Vehicle
Type (Passenger, LCV, and HCV), Fuel Type (Gasoline, Diesel, and Electric and
Hybrid), Application, and Geography - Global Forecast to 2022"published
by MarketsandMarkets™. The automotive semiconductor market is expected to grow
from USD 34.68 billion in 2016 to USD 48.78 billion by 2022, at a compound
annual growth rate (CAGR) of 5.8%. Rising trend of powertrain electrification
with the introduction of EVs and HEVs is expected to drive the growth of the
automotive semiconductor market during the forecast period.
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Ongoing electrification of
the powertrain system generating more demand for discrete power devices
Discrete
power devices is the fastest-growing segment of the automotive semiconductor
market segmented on the basis of components. The reason behind this sharp
growth in the market share of the discrete power devices is due to the ongoing
electrification of the major applications of the automobile, such as
powertrain, which is generating more demand for power components such as MOSFET
and IGBT.
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Passenger cars segment
occupies almost three-fourth of the overall automotive semiconductor market
Passenger
cars accounted for the largest market share in 2016. This growth can be
attributed to the huge demand for passenger cars across the globe, especially
in Asia-Oceania. The rising middle-class population and improved disposable
income have accelerated the demand for passenger cars in countries such as
China, India, Thailand, Indonesia, and Malaysia among others.
Automotive industries in
Asia-Oceania are the major consumers of the semiconductor component
The
Asia-Oceania region expected to account for the largest share in 2016 of the
total automotive semiconductor market. The Asia-Oceania region has emerged as a
major automotive hub with most of the market share in terms of vehicle
production as well as sales. The primary reason for this trend is the growing
Chinese automotive market. This market has evolved into the largest producer of
vehicles and consequently the largest consumer of automotive semiconductor
across the globe.
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NXP
Semiconductors N.V. (Netherlands), Renesas Electronics Corp. (Japan), Infineon
Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH
(Germany), Texas Instruments, Inc. (US), ON Semiconductor Corp. (US), ROHM Co.,
Ltd. (Japan), Toshiba Corp. (Japan), and Analog Devices Inc. (US) are among the
major players in the automotive semiconductor market.
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