Global Automotive Semiconductor Market | Forecast 2022-2030

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Electric Vehicle Growth favorable to Global
Automotive Semiconductor Market Growth
Inkwood Research anticipates that the Global
Automotive Semiconductor Market is projected to
register a 9.47 CAGR in terms of revenue during
the forecast period, 2022-2030. Browse 100
Market Data Tables and 57 Figures spread over 294
Pages, along with an in-depth TOC on the Global
Automotive Semiconductor Market Forecast
2022-2030. VIEW TABLE OF CONTENT LINK -
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iconductor- market/table-of-contents A
semiconductors properties lie between a
conductor and an insulator. Its primary role is
to ensure control over an electric current. Also,
it facilitates most innovations in vehicle
development. Further, with advanced converging
applications like the Internet of Things (IoT),
Artificial Intelligence (AI), and 5G, in
automotive, there is a growing demand for
automotive semiconductors.
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Emergence of Electric Vehicles drives Market
Demands
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Electric vehicles (EVs) have an electric motor
instead of an internal combustion engine. The
common electric batteries reliance on dated
technology limits their performance. As a result,
EVs suffer from short life spans and high costs.
At the same time, semiconductor innovations are
capable of longer and more efficient battery
life. Semiconductor chemistries like Silicon
Carbide (SiC) and Gallium Nitride (GaN) enable EV
batteries to operate at higher voltages than
conventional silicon wafers. Furthermore,
semiconductors are vital to vehicle efficiency,
intelligence, and safety. Also, features like
emergency braking systems, backup cameras, and
blind-spot sensors depend on chip technology.
With automakers increasing electric integrations
in vehicles, chip content is set to expand,
thereby generating more growth opportunities for
semiconductor players. Moreover, modern electric
cars need connectivity that enables the
manufacturer to send important software updates
to the cars firmware. Thus, with the growing
demand for electric vehicles, the automotive
semiconductors demand is set to rise. Memory
devices are the Fastest-Growing
Component Processors include microcontroller
units (MCUs), digital signal processors (DSP),
and microprocessor units. The use of different
microcontroller types to handle operations like
applications, electrical systems, automobiles,
and processing needs has increased rapidly. Their
applications can be found in large equipment and
smaller devices like air conditioning units,
airplane navigation systems, mainframe computers,
cell phones, etc. Further, safety systems like
airbags and ABS have become common in cars. At
the same time, features like stability-control
and traction-control systems. Each of these
systems adds a new module, which contains
multiple microprocessors. Such factors boost the
growth of the processors segment. North America
is the Fastest-Growing Region The growing
automotive manufacturing and the emergence of new
carmakers drive market growth. Also, the
increasing demand for commercial vehicles and
electric vehicles offers growth opportunities.
Moreover, several market players are focusing on
initiatives to enhance their reach to rural areas
and elevate their position in the automotive
semiconductor market. The intensive competitive
rivalry is attributed to the established players
trying to improve and expand their product
portfolio to strengthen their market position.
Some prominent firms in the market include
Renesas Electronics Corporation, Infineon
Technologies AG, Texas Instruments Incorporated,
NXP Semiconductors NV, etc. Request for
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Research Inkwood Research specializes in
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consulting services. Market intelligence studies
with relevant fact-based research are customized
across industry verticals such as technology,
automotive, chemicals, materials, healthcare, and
energy, with an objective comprehension that
acknowledges the business environments. Our
geographical analysis comprises
North South America, CEE, CIS, Middle East,
Europe, Asia, and Africa.
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