Infinium Global Research Automotive Semiconductor Market | Page 9

Automotive Semiconductor Market: Global Industry Analysis, Trends, Market Size and
Forecasts up to 2024
Executive Summary
Global Automotive Semiconductor Market Highlights, (USD Million)
The global automotive semiconductor market is expected to grow at a CAGR of 6.4 %
between 2018 and 2024 in terms of value. The growth in this market is primarily driven by
factors such as adoption of advance driver assistance system in vehicles for safety & better
driving experience, and growing trends towards electric or hybrid cars. Furthermore, increase
environmental regulations, emission regulations, increased focus on power efficiency and
government encouragement policy to further boost the demand for automotive
semiconductor products. On the other hand, economic slowdown in emerging countries is
likely to hinder the growth in this market over the forecast period. In addition, fluctuations
in the raw material prices are likely to restrain the growth in this market over the forecast
period
Among the regions, the Europe region accounted for the largest market share in 2017, while
the North America region accounted for the second largest market for automotive
semiconductor market. Presence of major OEM manufacturers of automotive
semiconductors products as well as presence of major automobile companies in Europe is
one of the primary reasons for the growth factors in the European automotive semiconductor
market. The significant rise in population of youth and growing disposable income per capita
is likely to augment the growth in the Asia-Pacific region over the next six years. As a result,
the automotive semiconductor market in the Asia-Pacific region is projected to grow at the
highest CAGR among the regions in the world market over the forecast period.
The leading players in the global automotive semiconductor market include NXP
Semiconductors
N.V.,
Renesas
Electronics
Corp.,
Infineon
Technologies
AG,
STMicroelectronics N.V., Robert Bosch GmbH, Texas Instruments, Inc. and ON Semiconductor
Corp., ROHM Co Ltd, Analog Devices Inc., Delphi technologies and Panasonic Industrial
Devices & Solutions and many among others
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