Infinium Global Research Automotive Semiconductor Market | Page 3

Automotive Semiconductor Market: Global Industry Analysis, Trends, Market Size and
Forecasts up to 2024
Introduction
Report Description
The Global Automotive Semiconductor Market was sized near USD X.X billion in 2016. The
global automotive semiconductor market is projected to grow with a CAGR of 6.4% during
2018-2024. Automobile industry has witnessed several outstanding industry advancements
over the past few years. Car’s today are safer, more fuel efficient and technically more
advanced than ever. Automotive semiconductors have played a pivotal role in automotive
innovations such as security systems, antilock brakes, engine control units and
infotainment. These features proved enormously popular among consumers, as it has
enhanced their driving experience
Previously internal combustion engine was the main part of the car. However, with the
advancement in automotive semiconductor, the electronic components have become an
integral part of the car, which commands the engine for its functions. With increasing
automated and electrified vehicles, software and electronic system that runs on them is
becoming more important. The average price semiconductor content in a typical internal
combustion engine car has risen to around $400 in 2017 and is expected to rise further in
upcoming years. With the increase adoption of hybrid and electric vehicles the average
semiconductor would be approximately twice than the ICE. Semiconductor contents for
premium cars cost more than $3800.
With increase demand for Safety and quality, increase adoption of hybrid or electric
vehicles to create more demand for the automotive semiconductor components in near
future. In addition, features like remote vehicle diagnostics, automatic crash notification
and emergency assistance are some of the strongest interest among consumers surveyed.
Consumer’s interest in safety had prompted government involvement in the U.S. In U.S, the
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