The global automotive semiconductor market size was US$ 40.1 billion in 2021. The global automotive semiconductor market is forecast to grow to US$ 68.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing urban population and rising need for luxury products will drive the growth of the automotive semiconductor market. In addition, the emergence of new technology will contribute to the growth of the automotive semiconductor market.
The growing number of stringent regulations intending to surge the adoption of sustainable policies will contribute to the growth of the market. Furthermore, growing digitization across the entire automotive industry will escalate the growth of the global automotive semiconductor market.
The surging development of electric and hybrid vehicles and the increasing number of improvements will benefit the global automotive semiconductor market. On the contrary, the rising risks of cyber-attacks may limit the growth of the market.
The growing number of innovative strategies by industry players will accelerate the market growth. For instance, Infineon Technologies AG launched its new high-tech chip factory in Austria in September 2021. Furthermore, ON Semiconductor unveiled its silicon carbide MOSFET module in June 2021, which is specifically designed for electric vehicles. Such advancements are likely to benefit the global automotive semiconductor market.
COVID-19 Impact Analysis

The COVID-19 pandemic has been an unfavorable situation for the entire automotive industry. Due to the pandemic, the demand for luxury products like cars declined drastically. In addition, various automotive manufacturers registered a significant drop in terms of revenue, which clearly depicts the negative impact of the pandemic. Furthermore, manufacturing units also closed their operations in order to curb the virus spread and abide by the regulations by the government bodies. Thus, it ultimately affected the global automotive semiconductor market.

Regional Analysis

The global automotive semiconductor market is forecast to witness ample growth opportunities in North America and Asia-Pacific. The growing demand for efficient automobiles and increasing disposable income will surge the growth of the North America market. Furthermore, Asia-Pacific accounts for one of the largest automotive industries globally. As a result, it will also benefit the automotive semiconductor market.

Competitors in the Market

NXP Semiconductors
Infineon Technologies
Renesas Electronics
Renesas Electronics
Texas Instruments
Stmicro Electronics
Bosch
Melexis
Allegro Micro System
Microchip Technology
On Semiconductor
Rohm Semiconductor
Analog Devices
Delphi Technologies
Pansonic
Toshiba
Other Prominent Players
Market Segmentation

The global automotive semiconductor market segmentation focuses on Product, Application, Vehicle, and Region.

By Product Outlook

Processor
Analogic
Sensor
Discrete power
Memory
By Application Outlook

Body electronics
Telematics
Powertrain
Safety
Chassis
By Vehicle Outlook

Passenger Cars
Light commercial vehicles
Heavy commercial vehicles
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America