PUNE, India --- According to the new market research report on the "Automotive Semiconductor Market by Component (Processor, Analog IC, Discrete Power, Sensor, & Memory), Vehicle Type, Fuel Type, Application (Powertrain, Safety, Body Electronics, Chassis, & Telematics and Infotainment), & Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 48.78 Billion by 2022, at a CAGR of 5.8% between 2016 and 2022.
The most significant factor driving the automotive semiconductor market is the increasing vehicle production which, in turn, is leading to the rise in demand for automotive semiconductors. Rising trend of vehicle electrification and growing demand for advanced safety, convenience, and comfort systems are the other factors driving the growth of the semiconductor content in the automobiles.
Ongoing electrification of the powertrain system generating more demand for discrete power devices
Discrete power devices are the fastest-growing segment of the automotive semiconductor market segmented on the basis of components. The reason behind this sharp growth in the market share of the discrete power devices is due to the ongoing electrification of the major applications of the automobile, such as powertrain, which is generating more demand for power components such as MOSFET and IGBT.
Passenger cars segment occupies almost three-fourth of the overall automotive semiconductor market
Passenger cars accounted for the largest market share in 2016. This growth can be attributed to the huge demand for passenger cars across the globe, especially in Asia-Oceania. The rising middle-class population and improved disposable income have accelerated the demand for passenger cars in countries such as China, India, Thailand, Indonesia, and Malaysia among others.
Automotive industries in Asia-Oceania are the major consumers of the semiconductor component
The Asia-Oceania region expected to account for the largest share in 2016 of the total automotive semiconductor market. The Asia-Oceania region has emerged as a major automotive hub with the majority of the market share in terms of vehicle production as well as sales. The primary reason for this trend is the growing Chinese automotive market. This market has evolved into the largest producer of vehicles and consequently the largest consumer of automotive semiconductor across the globe.
The report articulates the drivers, restraints, challenges, and opportunities with respect to the Automotive Semiconductor Market and forecast the market till 2022. The report also gives a qualitative and quantitative description about different segments considered for the automotive semiconductor market. This global report gives a detailed view of the market across the four geographical regions, namely, North America, Europe, Asia-Oceania, and Rest of the World.
The report also profiles the most promising players in the automotive semiconductor market. The competitive landscape of the market presents a very interesting picture where several big and small players have become a force to reckon with. The key players in the automotive semiconductor market are NXP Semiconductors N.V. (Netherlands), Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), ROHM Co., Ltd. (Japan), Toshiba Corp. (Japan), and Analog Devices Inc. (U.S.) among others.
Browse 71 Tables and 71 Figures spread through 188 Pages and in-depth TOC on "Automotive Semiconductor Market" at http://www.marketsandmarkets.com/Market-Reports/automotive-semiconductor-195.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR
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