Automotive Chipset Market Poised for Robust Growth, forecasted to Expand at 12.5% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Automotive Chipset Market size is estimated to grow at a CAGR of around 12.5% during the forecast period, i.e., 2024-30.
Report Coverage
This report offers a comprehensive analysis of the Automotive Chipset Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Automotive Chipset Market Overview
The market has experienced substantial growth, primarily propelled by the increasing demand for connected cars and electric vehicles (EVs) in the automotive sector. This demand surge is driven by the automotive industry's transition towards connected vehicles and EVs, which requires advanced semiconductor components, tailored specifically for automotive applications. Also, the proliferation of Advanced Driver Assistance Systems (ADAS) within automotive vehicles has resulted in an increased need for sensors, processors, and other semiconductor components, catering directly to automotive manufacturers and end users.
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Automotive Chipset Market Segmentation Outlook
The Automotive Chipset is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Chip Type
- Analog ICs
- Logic ICs
- Microcontrollers & Microprocessors
- Others (Memory ICs, Interface ICs, etc.)
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
By Propulsion
- ICE
- Electric or Hybrid Vehicles
By Application
- Safety System
- Body Electronics
- Chassis
- Telematics & Infotainment
- Powertrain
- Others (Advance Driver Assistance System (ADAS), Autonomous Driving, etc.)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Automotive Chipset Market Driver
Rapid Expansion of Automotive Chips in Response to Vehicle Electrification & Intelligence – The rapid expansion of automotive chips is closely related to the increasing use of electric vehicles. As automobiles advance into the smart era, automotive chips are becoming fundamental to this transition. They serve as the backbone of the technological revolution in vehicles, particularly within smart terminals, which act as central control centers for these innovations. Various chips, including primary control, power, memory, communication, and interface chips, are experiencing swift development to meet the growing demands of electric vehicles.
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Top Automotive Chipset Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies NXP Semiconductors, Analog Devices, Inc., Renesas Electronics Corporation, Toshiba Corporation, Robert Bosch GmbH, ROHM Co., Ltd., Infineon Technologies AG, Texas Instruments Incorporated, STMicroelectronics, Samsung Electronics, NVIDIA Corporation, Intel Corporation, Qualcomm Technologies, Inc., Microchip Technology, Inc., SK Hynix Inc., and among Others as key players shaping the market landscape.
Automotive Chipset Market News
- 2023: Robert Bosch GmbH announced to invest around USD 3.23 billion in its semiconductor division by 2026 as part of the IPCEI funding program on microelectronics and communications technology. This significant financial commitment highlights Bosch's dedication to expanding its footprint in the semiconductor industry.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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