The global automotive chip market revenue is expected to expand at a moderate CAGR over the forecast period. Increasing technological advancements and rising demand for autonomous cars are major factors expected to drive growth of the global market over the forecast period.
The global automotive chip market report has been segmented on the basis of component type, vehicle type, application, and region.
On the basis of component type, the target market is segmented into logic ICs, analog ICs, microcontrollers & microprocessors, and memory. The logic ICs component type segment is expected to register significant share in terms of revenue over the forecast period, owing to increasing sales of ultra-luxury cars.
On the basis of vehicle type, the target market is segmented into passenger vehicles and commercial vehicles. On the basis of application, the target market is segmented into chassis, powertrain, safety, telematics & infotainment, and body electronics. The safety application segment is expected to account for highest CAGR over the forecast period, owing to increasing awareness regarding vehicle and passenger’s safety among individuals.
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Based on the region the automotive chip market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to technological advancements and automotive safety regulations in various countries in this region. The market in Asia Pacific is expected to register significant share in terms of revenue over the forecast period, owing to rising demand for passenger cars and increasing production of vehicles in developing countries such as India, China, and Japan in the region.
Key players operating in the global automotive chip market include NXP Semiconductors N.V., Infineon Technologies AG, Renesas Electronics Corporation, STMicroelectronics N.V., Texas Instruments Incorporated, Robert Bosch GmbH, ON Semiconductor Corporation, Atmel Corporation, Elmos Semiconductor AG, and Maxim Integrated Products, Inc.