The global automotive
chip market size is expected to reach USD 56.24 billion by 2025,
according to a study conducted by Grand View Research, Inc., exhibiting a CAGR
of 10.7% during the forecast period. Rising awareness regarding
energy-efficient lighting systems and burgeoning sales of luxury vehicles
equipped with navigation and infotainment systems are creating an upswing in
the demand for automotive chips.
Spiraling demand for commercial and passenger vehicles
is driving the automotive chip market. Automotive chip enhances a vehicle’s security
system and in-vehicle infotainment system. It also ensures safety and comfort
of occupants including the driver. For instance, the SYNC technology of Ford
enables driver to make hands-free phone calls and lets them control the entire
navigation and infotainment system using their voice. These benefits are
expected to stoke the growth of the market. However, complex and expensive
technology and network challenges in developing economies are estimated to
hinder the growth of the market over the forecast period.
In the North America region, the automotive chip
market is likely to expand at a CAGR of 9.2% over the forecast period.
Prominent vendors in the market include Microchip Technology Inc.; Texas
Instruments Incorporated; Robert Bosch GmbH; NXP Semiconductors; and Infineon
Technologies AG.
Browse full research report on Automotive Chip Market: https://www.grandviewresearch.com/industry-analysis/automotive-chip-market
Further
Key Findings from the Study Suggest:
- Soaring demand for connectivity and safety features is one of the
key trends boosting market growth
- The passenger car vehicle type segment is anticipated to emerge as
the fastest growing segment owing to burgeoning demand for SUVs
- On the basis of application, the body electronics segment is poised
to hold a prominent position in the market throughout the forecast period
due to increasing digitization of vehicles and rising awareness among
individuals regarding vehicle electronic accessories
- The safety application type segment is likely to post the highest
CAGR during the same period due to continuous strengthening of vehicle
safety standards
- Some of the key companies in the market are Microchip Technology
Inc.; Texas Instruments Incorporated; Robert Bosch GmbH; NXP
Semiconductors; and Infineon Technologies AG.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand
View Research has segmented the global automotive chip market based on
component type, application type, vehicle type, and region:
Automotive
Chip Component Type Outlook (Revenue, USD Million, 2014 - 2025)
- Logic ICs
- Analog ICs
- Microcontrollers
& Microprocessors
- Memory
Automotive
Chip Application Type Outlook (Revenue, USD Million, 2014 - 2025)
- Chassis
- Powertrain
- Safety
- 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
- U.S.
- Mexico
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- India
- China
- Japan
- Rest of the
World (RoW)
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
No comments:
Post a Comment