The global automotive chip market is anticipated to value USD 56.24 billion until 2025. It is also expected to register a CAGR of 10.7% over the forecasted years, 2017 to 2025. Increasing demand for infotainment, navigation, and lighting systems among luxury vehicles for enhancing driver and passenger experience is projected to drive the market growth for automotive chips.
The analog ICs component segment is expected to gain traction in the upcoming years due to their usage in automating premium and luxury vehicles. The logic ICs are also witnessing significant demand across the globe due to their ability to control navigation and infotainment systems in the vehicles.
The passenger vehicle type segment is anticipated to register the fastest growth over the forecasted period due to rising demand for luxury sedans and SUVs owing to its feature of enhanced passenger comfort. On the other hand, the commercial vehicles segment is also gaining traction due to the rising need to spend on mining, e-commerce, and infrastructure activities.
The Asia Pacific registered a significant share across the global automotive chip market in 2016 due to the surging number of key automotive manufacturers across China, Japan, and India. North America generated a revenue of USD 3.41 Billion on account of increasing demand for personal vehicles prevailing among the people residing in developed countries like the U.S. and Canada.
The market for the automotive chip includes key players such as Texas Instruments Incorporated, ON Semiconductor, Renesas Electronics, Infineon Technologies, and NXP Semiconductors. Huge investments are being undertaken by these players to develop innovative and technologically advanced products for gaining a competitive advantage and widening their global presence.
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Further key findings from the report suggest:
• In 2016, the market share of body electronics segment exceeded 25.0% across the global market.
• The passenger vehicle type segment is projected to register a CAGR of around 10.8% from 2017 to 2025.
• In 2016, Asia Pacific registered significant share across the global automotive chip market.
• The key players in this market are Texas Instruments Incorporated, ON Semiconductor, Renesas Electronics, Infineon Technologies, and NXP Semiconductors.
Million Insights has segmented the global automotive chip market on the basis of component type, application type, vehicle type, and region:
Automotive Chip Component Type Outlook (Revenue, USD Million, 2014 - 2025)
• Logic ICs
• Analog ICs
• Microcontrollers & Microprocessors
Automotive Chip Application Type Outlook (Revenue, USD Million, 2014 - 2025)
• Telematics & Infotainment
• Body Electronics
Automotive Chip Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
• Passenger Vehicles
• Commercial Vehicles
Automotive Chip Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Rest of the World (RoW)