Auto Chips Cruising Towards Huge Market Share

A study conducted by Grand View Research, Inc. indicates the global automotive chip market size is expected to reach $56.24 billion by 2025, exhibiting a CAGR of 10.7%. Rising awareness regarding energy-efficient lighting systems and burgeoning sales of luxury vehicles equipped with navigation and infotainment systems are creating an upswing in the demand for automotive chips.

 

Key Findings

Free Newsletter

Like this article? Subscribe to FierceSensors!

The sensors industry is constantly changing as innovation runs the market’s trends. FierceSensors subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and analysis impacting their world. Register today to get sensors news and updates delivered right to your inbox.
  • Spiraling demand for commercial and passenger vehicles is driving the automotive chip market. Automotive chip enhances a vehicle's security system and in-vehicle infotainment system.
  • In the North America region, the automotive chip market is likely to expand at a CAGR of 9.2% over the forecast period.
  • Prominent vendors in the market include Microchip Technology Inc.; Texas Instruments Incorporated; Robert Bosch GmbH; NXP Semiconductors; and Infineon Technologies AG. 
  • Soaring demand for connectivity and safety features is one of the key trends boosting market growth
  • The passenger car vehicle type segment is anticipated to emerge as the fastest growing segment owing to burgeoning demand for SUVs
  • Based on application, the body electronics segment is poised to hold a prominent position in the market throughout the forecast period due to increasing digitization of vehicles and rising awareness among individuals regarding vehicle electronic accessories
  • The safety application type segment is likely to post the highest CAGR during the same period due to continuous strengthening of vehicle safety standards
  • Some of the key companies in the market are Microchip Technology Inc.; Texas Instruments Incorporated; Robert Bosch GmbH; NXP Semiconductors; and Infineon Technologies AG. 

For more revelations, take a gander at the "Automotive Chip Market Size, Share & Trends Analysis Report By Component Type (Analog ICs, Logic ICs, Microcontroller, Memory), By Application Type, By Vehicle Type (Passenger, Commercial), And Segment Forecasts, 2018 - 2025" report.

 

Grand View Research, Inc.

415-349-0058

888-202-9519

[email protected]

https://www.grandviewresearch.com

Suggested Articles

The COVID-19 (coronavirus) crisis cast an even darker cloud over the electronics industry this past week.

Broadly, Goldman Sachs believes U.S. companies will see no earnings growth in 2020

Demands for greater positional and navigational accuracy in more computing applications point to a bright future for 3D camera supplier Orbbecc.