Automotive chips find tremendous application in modern vehicles. They are used in a variety of electronic systems, which include powertrain, telematics and infotainment, chassis and safety systems, powertrain, etc. Market Research Future (MRFR) projects that the global Automotive Chip Market Size is set to witness 12.8% CAGR between 2018 and 2023. The market is expected to surpass a valuation of USD 72,400 Mn towards the end of the assessment period.

Competitive Landscape

Companies, across the world, are showing keen interest in this Automotive Chip Market Size as they have realized the potential this market can offer. MRFR enlisted several companies and profiled them for a holistic understanding of the possible market-changing trends. These companies are Robert Bosch GmbH (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland)

Segmentation

MRFR’s prediction of the global Automotive Chip Market Size relies heavily on the segmentation they made in the report. These segments are product, application, vehicle type, and propulsion. The segmentation is backed by figures and facts of each section that have been derived from value-based and volume-based analyses conducted by analysts.

Based on the product, the Automotive Chip Market Size can be segmented into analog ICs microcontrollers & microprocessors, Logic ICs, and others. The analog IC segment has 42.4% share of the entire market in 2017, with a market value touching USD 14,947.3 million. The segment is also expected to scale with a 15.93% CAGR over the forecast period. The device is set to enjoy substantial traction due to its utility in automotive applications, such as car audio, and safety systems.

Based on the application, the Automotive Chip Market Size can be segmented into body electronics, telematics & infotainment, powertrains safety system, and chassis. Of these, the body electronics segment had well over 27.4% in 2017, with a market valuation assessed at USD 9,660.9 million, the market can touch a 12.24% CAGR during the forecast period.

Regional Analysis

The global Automotive Chip Market Size, if considered on the basis of regions, can be segmented by North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). This analysis has its foundation in data that helps in the revelation growth pockets.

The APAC market is the largest market with a more than half of the market coverage in 2017. It occupies almost 51.76% share of the global market. The region is witnessing extraordinary drive from countries like China was the largest market in 2017, valued at USD 9,659.5 million. In India, China, and Japan, the market has found strong infrastructures for the necessary push it needed. The need for semiconductor devices and growing demand for luxury and premium cars are expected to take the regional market to a different height.

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