FLASH Storage Memory Enables Easy Information Flow in the Automotive Semiconductor Market
Arizton’s recent market research report on the automotive semiconductor market identifies NXP Semiconductors, Infineon Technologies, Renesas Electronics, and Texas Instruments as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by product (processor, analog IC, sensor, discrete power, and memory), by application (body electronics, telematics, powertrain, safety, and chassis), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), and by geography (APAC, Europe, North America, Latin America, and MEA).
The automotive semiconductor market is expected to reach revenues of around $52 billion by 2023, growing at CAGR of around 7% during 2017-2023.
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The automotive semiconductor market is divided into four major segments that consist of product, application, vehicle type, and geography.
Memory segment to grow at the fastest CAGR in the automotive semiconductor market during the forecast period
The automotive semiconductor market by product is segmented into the processor, analog IC, sensor, discrete power, and automotive memory. Memory segment dominated less than 1/3rd of the total market share in 2017, growing at a CAGR of more than 9% during the forecast period. The increasing adoption of adoption of electric vehicles is propelling the growth of this segment in the global market. The different variety of distributed memory used in the modern-day car includes SRAM, DRAM, ROM, FLASH, and MRAM. The increasing use of microprocessors in vehicles is leading to the higher adoption of a distributed DRAM, and SRAM or FLASH in the automotive semiconductor market. Distributed DRAM is used for information processing, whereas SRAM or FLASH storage memory is used to transfer information between functions in the car. Memories used in vehicles are built to last longer as compared to home and business computers which have a 2 to 5-year operating life. These batteries are designed to withstand multiple power up and power down cycles, multiple times a day, with a short (under one hr) operating period as the average. Such benefits of memory chips are augmenting the growth of the global automotive semiconductor market.
Safety segment to grow at an impressive CAGR in the automotive semiconductor market during the forecast period
The application segment in the automotive semiconductor market is divided into body electronics, telematics, powertrain, safety, and chassis. Safety occupied the fourth largest market share in 2017, growing at a CAGR of more than 13% during the forecast period. The growing adoption of ADAS systems is fueling the development of this segment in the automotive semiconductor market. The increasing number of fatalities in traffic accidents is triggering the adoption of automotive safety systems in vehicles. Some of the of most prominent safety systems used in the global market include rollover mitigation, dual stage airbags, emergency brake assist, adaptive headlights, night vision, rearview cameras, and emergency response, which is boosting the revenues in the automotive semiconductor market. The implementation of safety electronics such as tire-pressure monitoring, adaptive cruise control, blind-spot detection, and lane keep assist will transform the automotive industry during the forecast period. The government initiatives and regulatory bodies are implementing stringent regulations to augment the development of automotive semiconductor market over the next few years.
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North America to grow at a considerable CAGR in the automotive semiconductor market during the forecast period
The automotive semiconductor market by geography is classified into APAC, Europe, North America, Latin America, and MEA. North America dominated third-largest market share in 2017, growing at a CAGR of more than 7% during the forecast period. Countries such as US, Mexico, and Canada are the largest revenue contributors in the North American market. Mexico is emerging as the new manufacturing hub and is attracting a huge influx of investments for capacity expansion of existing facilities or new facility set-up, thereby, boosting revenues in the North American automotive semiconductor market. Leading manufacturers such as Volkswagen, Mazda, Honda, Audi, and Nissan are investing billions of dollars in the development and expansion of facilities in the North American region. The rising demand for light commercial vehicles and heavy commercial vehicles will create lucrative opportunities for leading vendors in the North American market. The development of telematics, powertrain, safety, and chassis will fuel the demand for innovative products in the automotive semiconductor market.
The other prominent players operating in the automotive semiconductor market are STMicroelectronics, Bosch, Melexis, Allegro MicroSystems, Microchip Technology, ON Semiconductor, ROHM Semiconductor, Analog Devices, Delphi Technologies, Panasonic Corporation, and Toshiba Corporation.
The complete overview of the latest market research report on automotive semiconductor market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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