““Growth of the automotive semiconductor market is directly linked with the growth of the automotive industry”
The automotive semiconductor market was valued at USD 32.46 billion in 2015 and is expected to reach USD 48.78 billion by 2022, at a CAGR of 5.8% between 2016 and 2022. The most significant factor driving the automotive semiconductor market is the increasing vehicle production which, in turn, is leading to the rise in demand for automotive semiconductors. Rising trend of vehicle electrification and growing demand for advanced safety, convenience, and comfort systems are the other factors driving the growth of the semiconductor content in the automobiles.
“Safety is expected to be the fastest-growing application of the automotive semiconductor market during the forecast period”
The fastest-growing applications and the major consumers of the semiconductor content in a vehicle are telematics & infotainment, powertrain, and safety. The strict standards and regulations are the generating more demand for semiconductor component in the safety and powertrain applications. On the other hand, the growing competition among the vehicle manufacturers to provide better convenience and comfort to their customers is forcing the automobile manufacturers to use more and more semiconductor components for safety and telematics and infotainment applications.
“Ongoing electrification of the powertrain system generating more demand for discrete power devices”
Discrete power devices is the fastest and memory devices is the second fastest-growing component of the automotive semiconductor market. 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. The requirement of the better safety and advanced features in the automobile is giving rise to the necessity of more...