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Automotive Semiconductor Market Size
- Report ID: GMI6022
- Published Date: Jun 2023
- Report Format: PDF
Automotive Semiconductor Market Size
Automotive Semiconductor Market size surpassed USD 60 billion in 2022 and is anticipated to grow at 10.5% CAGR from 2023 to 2032 owing to the rising consumer demand for enhanced safety features into vehicles
Automotive semiconductors are electronic components that are specifically designed and optimized for use in automotive applications. They provide essential functionalities for various automotive systems including powertrain, safety, infotainment, connectivity, and ADAS, thereby enabling advanced features and enhanced performance in modern vehicles. The automotive electronics market is poised to cross USD 650 billion valuation by 2032.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Automotive Semiconductor Market Size in 2022: | USD 60 Billion |
| Forecast Period: | 2023 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 10.5% |
| 2032 Value Projection: | USD 183.8 Billion |
| Historical Data for: | 2018 - 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 570 |
| Segments covered: | Component, Vehicle Type, Propulsion Type, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Technological complexities and compatibility issues can hinder automotive semiconductor market growth during the forecast period. Automotive semiconductor technologies are becoming increasingly complex owing to the rising demand for advanced functionalities. Integrating different semiconductor components and ensuring compatibility with existing automotive software platform & architecture can be challenging. This challenge can be attributed to the fact that vehicles are becoming more sophisticated and incorporating multiple connectivity standards as well as communication protocols. Due to these factors, ensuring seamless integration and the interoperability of semiconductor solutions can be considered as restraints.
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Automotive Semiconductor Market Scope
