Automotive Semiconductor Market Overview, Growth Forecast, Demand and Development Research Report to 2028

The global chip shortages result in severe spillover damages in many sectors, mainly in the automotive industry. The struggle to cope with skyrocketing demand, natural disasters, and lockdowns are revealing the fragility of supply chains. Semiconductor consumers are currently undergoing a huge supply chain transformation as the semiconductor shortage have halted their production lines of the final product. The relationship between the essential dynamics, such as high fab utilization, high geographic concentration, high market entry barriers, and long manufacturing cycles, is the reason why skyrocketing demand and external shocks are disrupting the value chain since 2020.

The shortage in semiconductors can be attributed to the impact of COVID-19. Since the second half of 2020, homeschooling and working from home have been the new normal in many countries. Staying at home due to lockdown and curfews meant many people invested in gaming consoles and other gadgets, requiring semiconductors. This have directed the supply of semiconductors to the consumer electronics industry and have resulted to the shortage of semiconductors in the automotive industry.

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Companies Profiled in this report includes:  NXP Semiconductors, Texas Instrument, ON Semiconductor, Maxim, Vishay Intertechnology, Qualcomm, NVidia Corporation, Rohm Semiconductor, STMicroelectronics N.V., Analog Devices, Inc.

More cars and light vehicles are now manufactured in developing countries than developed nations. These will turn out to be critical markets for auto manufacturers, the semiconductor industry, and their suppliers. Advancements in semiconductor technology have facilitated the rapid growth in the last 50 years. The use of electronics in vehicles is the primary driver of change in the sector. Virtually all automotive revolution arises indirectly or directly from developments in electronics.

Practically all innovation in the automotive industry is electronic rather than mechanical. Technologies/features launched to the luxury end of the market are being applied in more standard vehicles more rapidly than ever as the prices continue to fall and innovation hastens.

The trend towards increasing comfort levels, entertainment, and communications will spur growth in the semiconductor content in each vehicle. The electronics control unit (ECU) will electronically control everything from lighting to heating. The dashboard is becoming fully electronic with LCD and LED displays providing drivers with all the information about their vehicle, external environment, and its performance. This again is expected to create a huge demand for semiconductor in the market.

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Furthermore, the growth of hybrid and electric cars adding to the surging demand for semiconductor equipment. Semiconductors in hybrid and electric cars will help them to achieve more excellent reliability and sophistication in power and battery performance. Usage such as managing and monitoring battery performance will become increasingly complicated, as will stop/start systems and more cost-effective systems for charging at multiple speeds and regulating electric motors will further demand even more semiconductors in cars. In addition, e-mobility will depend strongly on complex intelligence and information handling, both in-vehicle and infrastructure. Also, the advancement in the intelligent grid could be a driver for boosting the sales of EVs by permitting their drivers to feed power back in the electricity grid as well pay securely for charging by recharging judiciously.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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