Automotive Semiconductor Market to Reach $48.78B by 2022
March 15, 2016 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Automotive Semiconductor Market - Global Forecast to 2020" report to their offering.
The automotive semiconductor market was valued at USD 32.46 Billion in 2015 and is expected to reach USD 48.78 Billion by 2022, at a CAGR of 5.8% between 2016 and 2022. Growth of the automotive semiconductor market is directly linked with the growth of the automotive industry.
The most significant factor driving the automotive semiconductor market is the increasing vehicle production which, in turn, is leading to rising 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.
However, the requirement for better safety and advanced features in the automobile is giving rise to the necessity of more memory devices per vehicle to program the various control systems into an autonomous one.
The Asia-Oceania region accounted for the largest share of the total automotive semiconductor market in 2015. The region has emerged as a major automotive hub with majority of the market share in terms of vehicle production as well as sales. The primary reason behind 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. Depreciated oil prices, strict government regulations, rapid technological advancement, and consumption of mainly premium cars are the factors making North America as the fastest-growing region of the automotive semiconductor market, at an estimated CAGR of 6.5% between 2016 and 2022.
Suggested Items
Industrial PC Market Size to Record $1.75 Billion Growth from 2023-2027
05/03/2024 | PRNewswireThe global industrial pc market size is estimated to grow by USD 1.75 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 6.29% during the forecast period.
Real Time with… IPC APEX EXPO 2024: Direct Imaging Equipment and Quad-wave DLP Light Engine Technology
05/03/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and MivaTek's Brendan Hogan delve into the company's innovative technologies, including direct imaging equipment and quad-wave DLP light engine technology. They highlight the benefits of direct imaging, compensation, and DART technology.
LQDX Divests Aluminum Soldering Business - Mina™ - to Taiyo America Inc.
05/02/2024 | PRNewswireLQDX, formerly known as Averatek Corp., developer of high-performance materials for advanced semiconductor manufacturing, today announced that it has divested its aluminum soldering business – known as MinaTM – to Taiyo America Inc., a global market leader in advanced electronic materials.
IDTechEx Report on Quantum Technology: Nano-scale Physics for Massive Market Impact
04/30/2024 | PRNewswireThe quantum technology market leverages nano-scale physics to create revolutionary new devices for computing, sensing, and communications. Across the industry, quantum technology offers a paradigm shift in performance compared with incumbent solutions.
Guerrilla RF Completes Strategic Acquisition of GaN Device Portfolio from Gallium Semiconductor
04/29/2024 | BUSINESS WIREGuerrilla RF, Inc. has finalized the acquisition of Gallium Semiconductor's entire portfolio of GaN power amplifiers and front-end modules. Effective April 26th, 2024, GUER acquired all previously released components as well as new cores under development at Gallium Semiconductor.