A comprehensive overview of the Automotive Chips Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Automotive Chips Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Automotive Chips Market at the regional levels. The Automotive Chips Market is expected to grow at a CAGR of ~10% between 2021-2027
Market Overview
Automotive chips market is expected to witness significant growth during the forecast period owing to the demand for advance electronic systems in vehicles pertaining to enhanced safety and comfort needs of consumers. Furthermore, rising adoption of electric vehicles in also driving the demand for chips. China is estimated to produce more than 13 million battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) by the end of FY2023, more than any other country globally. Hence, growing sale of EV and PHEV would increase the overall demand for software and electronic component in the Automotive sector.
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COVID-19 Impact
The ongoing COVID-19 pandemic across the world have had a tremendous impact on different spectra of society, the market for Automotive Chips no less. Returning to some likeness of normalcy depends on continued safety measures, effective diagnostic testing, and widespread vaccination. COVID-19 has caused widely-documented supply chain and logistics disruptions across industries, including those in the Automotive Chips industry, which have been exacerbated during the latter portion of fiscal 2020. The pandemic prevention measures have disrupted the production. Various production factors were restricted due to the pandemic prevention and control measures. Measures such as personnel isolation, flight and port restrictions have suspended the production of chip enterprises, resulting in passive reduced production capacity and shipments.
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Automotive Chips Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Component Type, the market is primarily bifurcated into:
- Logic ICs
- Analog ICs
- Microcontrollers & Microprocessors
- Memory
Based on component type, logic ICs, analog ICs, microcontrollers & microprocessors, and memory. Microcontrollers & microprocessors category is expected to witness significant growth during the forecast period. Major automotive manufacturers globally are leveraging autonomous driving systems to provide a seamless experience to automobile users. Furthermore, owing to the recent evolution of the connected, autonomous, and semi-autonomous vehicle ecosystem, top automakers globally are prioritizing the safety and security concerns associated with automotive electronic systems
By Application Type, the market is primarily studied into:
- Chassis
- Powertrain
- Safety
- Telematics & Infotainment
- Body Electronics
Based on application type, the market is bifurcated into chassis, powertrain, safety, telematics & infotainment, and body electronics. The telematics and infotainment category generated significant revenue owing to the emergence of integrated telematics in vehicles coupled with policies for driver safety, the increasing need for risk management and the rising importance of smartphones. Furthermore, automotive telematics offer improvements in road safety and driving behavior, and is likely to streamline insurance premiums in tune with usage-based insurance.
Automotive Chips Market Region Segmentation Includes:
- North America
- Europe
- Asia-Pacific
- Rest of World
Based on the estimation, Geographically, APAC grabbed highest market share in the global automotive chips market in 2020, and it is expected to grow with considerable CAGR during the forecast period. This can be mainly attributed to the growing working population and expanding middle class population thus creating demand for new-age vehicles. Furthermore, rising presence of a large pool of skilled & semi-skilled workforce and cost-effective manufacturing in countries like India and China, are further driving the market demand.
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The major players targeting the market includes:
- Robert Bosch GmbH
- Microchip Technology Incorporated
- Texas Instruments Incorporated
- NXP Semiconductors
- Infineon Technologies AG
- Micron Technology Inc.
- NVIDIA CORPORATION
- STMicroelectronics N.V.
- Renesas Electronics Corporation
- Maxim Integrated Products Inc.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Chips Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and advancements in the Automotive Chips Market?
- Which factors are influencing the Automotive Chips Market over the forecast period?
- What are the challenges, threats, and risks in the Automotive Chips Market?
- Which factors are propelling and restraining the Automotive Chips Market?
- What are the demanding regions of the Automotive Chips globally?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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