Global automotive semiconductor market is expected to reach $67.5 billion by 2023

DALLAS, Nov. 12, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global automotive semiconductor market looks promising with opportunities for passenger cars, commercial, and electric vehicles. The global automotive semiconductor market is expected to reach an estimated $67.5 billion by 2023 with a CAGR of 13.1% from 2018 to 2023. The major growth drivers for this market are increasing vehicle production, increasing electronic content per vehicle, and growing demand for advanced vehicle safety and comfort systems.

Browse 121 market data tables and 145 figures spread through 253 pages and in-depth TOC on “Global Automotive Semiconductor Market" at https://www.lucintel.com/automotive-semiconductor-market.aspx

In this market, microcontrollers, integrated circuits, sensors, discrete power, and others are used for automotive semiconductor manufacturing for component type. Lucintel forecasts that integrated circuits is expected to remain the largest component type due to rapid vehicle electrification, increasing demand for electronics, and growth in vehicle production. The automotive sensor segment is expected to witness the highest growth during the forecast period due to the growth in advanced driver assistance system.

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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to the high vehicle production and increasing awareness for passenger safety.

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Emerging trends, which have a direct impact on the dynamics of the automotive semiconductor industry, include the introduction of high efficiency power semiconductors, and development of smaller single–chips for radar sensors. NXP semiconductor, Renesas Electronics, Infineon Technologies, Texas Instruments, Robert Bosch, Micron Technology, TOSHIBA, and Panasonic Semiconductor Solutions and others are among the major suppliers of automotive semiconductor.

Lucintel, a leading global market research firm has analyzed growth opportunities in the global automotive semiconductor market by component type, vehicle type, application type, engine type and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Semiconductor Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive semiconductor market by component type, vehicle type, application type, engine type and region.

For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.

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