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Automotive Semiconductor Market

The rising trend of electric cars is a major factor driving the market growth. In recent years, EVs are increasingly requiring a variety of semiconductors for power electronics, motor control, battery management systems, and charging infrastructure. To that end, the rise in EV usage internationally has led to the higher need for automotive semiconductors. Furthermore, the advent of V2X communication will offer multiple growth prospects for the industry growth. However, the dearth of semiconductor components mainly across the automotive sector may hinder the industry growth.

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Automotive Semiconductor Market

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  1. Automotive Semiconductor Market Growth Analysis & Forecast Report | 2023-2032

  2. Industry Insights • The rising trend of electric cars is a major factor driving the market growth. In recent years, EVs are increasingly requiring a variety of semiconductors for power electronics, motor control, battery management systems, and charging infrastructure. To that end, the rise in EV usage internationally has led to the higher need for automotive semiconductors. Furthermore, the advent of V2X communication will offer multiple growth prospects for the industry growth. However, the dearth of semiconductor components mainly across the automotive sector may hinder the industry growth. • In terms of components, the automotive semiconductor market size from the processors segment generated over USD 15 billion in 2022. The presence of advanced infotainment and networking capabilities in automobiles necessitate the employment of processors to handle multimedia processing, communication protocols, and user interfaces.

  3. Automotive semiconductor market size from the safety application segment is poised to record over 12% CAGR from 2023-2032 driven by the growing consumer demand for better safety features, such as sophisticated driver assistance systems and driverless vehicles. Collision avoidance, adaptive cruise control, and automatic emergency braking are typical ADAS technologies that rely on sensors, processors, and other semiconductor components to provide real-time sensing and decision-making, further contributing to the segment growth.

  4. Regional Analysis Europe held a sizable share of the global automotive semiconductor market in 2022 and is set to generate more than USD 40 billion by 2032. Europe has witnessed a surge in the rate of EV adoption, necessitating advanced semiconductor technologies for power management and electric drivetrain systems. The introduction of severe car safety rules and regulatory frameworks is also driving the expansion of the European automotive semiconductor industry. • Competitive Analysis • Analog Devices, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Onsemi, Robert Bosch GmbH, and STMicroelectronics N.V.

  5. Automotive Semiconductor Market @ https://www.gminsights.com/industry-analysis/automotive-semiconductor-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/6022 Request for customization: https://www.gminsights.com/roc/6022

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