Lucintel Forecasts Automotive Semiconductor Market to Reach $72.8 Billion by 2028

According to the recent study the automotive semiconductor market is projected to reach an estimated $72.8 billion by 2028 from $33.7 billion in 2021, at a CAGR of 12.6% from 2022 to 2028. Growth in this market is primarily driven by increasing vehicle production, increasing electronic content per vehicle, and growing demand for advanced vehicle safety and comfort systems.

Browse 145 figures / charts and 121 tables in this 253 -page report to understand trends, opportunities and forecast in automotive semiconductor market by component type (microcontrollers, integrated circuits, sensors, discrete power, and others), vehicle type (small cars, compact cars, mid-Size cars, large cars, SUVs and crossovers, MPVs, pickups, HCVs, electric vehicles, and others), application type (powertrain, chassis, safety, networking/communication, body electronics, and driver information systems), engine type (ICE vehicles and electric vehicles) and region (North America, Europe, Asia Pacific, and the Rest of the World).

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https://www.lucintel.com/automotive-semiconductor-market.aspx

“Integrated circuits market is expected to remain the largest segment during the forecast period.”

Based on component type, the automotive semiconductor market is segmented into microcontrollers, integrated circuits, sensors, discrete power, and others. Lucintel forecasts that the integrated circuits market is expected to remain the largest segment due to rapid vehicle electrification, increasing demand for electronics, and growth in vehicle production, whereas the automotive sensor segment is expected to witness the highest growth during the forecast period due to the growth in advanced driver assistance system.

“Asia pacific will dominate the automotive semiconductor market in near future.”

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to the high vehicle production and increasing awareness for passenger safety.

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Major players of automotive semiconductor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. NXP Semiconductor. Renesas Electronics, ST Microelectronics, Infineon Technologies, Texas Instruments, Robert Bosch, On Semiconductor, Micron Technology, TOSHIBA, and Panasonic Semiconductor are among the major automotive semiconductor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-semiconductor-market.aspx or helpdesk@lucintel.com.

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