The latest report on Automotive Semiconductor Market by Infinium Global Research gives complete coverage of the Automotive Semiconductor Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Automotive Semiconductor such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report Shall be Revised to 2020-2026. The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.
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Regulations Increased Focus on Power Efficiency and Government Encouragement Policy to Further Boost the Demand for Automotive Semiconductor Products
The global automotive semiconductor market was worth USD 36.4 billion in 2017 and it is projected to grow at a CAGR of 6.4% between 2018 and 2024. The growth in this market is primarily driven by factors such as the adoption of advanced driver assistance system in vehicles for safety & better driving experience and growing trends towards electric or hybrid cars.
Furthermore, increase environmental regulations, emission regulations increased focus on power efficiency and government encouragement policy to further boost the demand for automotive semiconductor products. On the other hand, an economic slowdown in emerging countries is likely to hinder the growth in this market over the forecast period. In addition, fluctuations in the raw material prices are likely to restrain the growth in this market over the forecast period.
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Growing Disposable Income Per Capita is Likely to Augment the Growth in the Asia-Pacific
Among the regions, the Europe region accounted for the largest market share in 2017, while the North America region accounted for the second largest market for the automotive semiconductor market. Presence of major OEM manufacturers of automotive semiconductors products as well as the presence of major automobile companies in Europe is one of the primary reasons for the growth factors in the European automotive semiconductor market.
The significant rise in the population of youth and growing disposable income per capita is likely to augment the growth in the Asia-Pacific region over the next six years. As a result, the automotive semiconductor market in the Asia-Pacific region is projected to grow at the highest CAGR among the regions in the world market over the forecast period.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Automotive Semiconductor.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.