Automotive Semiconductor Market Growth Potential & Forecast, 2032

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Automotive Semiconductor Market Growth Analysis
Forecast Report 2023-2032
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• Industry Insights

• The rising trend of electric cars is a major
  factor driving the market growth. In recent
  years, EVs are increasingly requiring a variety
  of semiconductors for power electronics, motor
  control, battery management systems, and charging
  infrastructure. To that end, the rise in EV usage
  internationally has led to the higher need for
  automotive semiconductors. Furthermore, the
  advent of V2X communication will offer multiple
  growth prospects for the industry growth.
  However, the dearth of semiconductor components
  mainly across the automotive sector may hinder
  the industry growth.
• In terms of components, the automotive
  semiconductor market size from the processors
  segment generated over USD 15 billion in 2022.
  The presence of advanced infotainment and
  networking capabilities in automobiles
  necessitate the employment of processors to
  handle multimedia processing, communication
  protocols, and user interfaces.

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• Automotive semiconductor market size from the
  safety application segment is poised to record
  over 12 CAGR from 2023-2032 driven by the
  growing consumer demand for better safety
  features, such as sophisticated driver assistance
  systems and driverless vehicles. Collision
  avoidance, adaptive cruise control, and automatic
  emergency braking are typical ADAS technologies
  that rely on sensors, processors, and other
  semiconductor components to provide real-time
  sensing and decision-making, further contributing
  to the segment growth.

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• Regional Analysis

Europe held a sizable share of the global
automotive semiconductor market in 2022 and is
set to generate more than USD 40 billion by 2032.
Europe has witnessed a surge in the rate of EV
adoption, necessitating advanced semiconductor
technologies for power management and electric
drivetrain systems. The introduction of severe
car safety rules and regulatory frameworks is
also driving the expansion of the European
automotive semiconductor industry.

• Competitive Analysis

• Analog Devices, Inc., Infineon Technologies AG,
  NXP Semiconductors N.V., Onsemi, Robert Bosch
  GmbH, and STMicroelectronics N.V.

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