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Automotive Semiconductor Market Projected to Hit USD

#Automotive #Semiconductor #Market #Projected #Hit #USD

New York, US, Oct. 27, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR),” Automotive Semiconductor Market Research Report Information By Component, Application, Vehicle Type, by Vehicle Propulsion, Forecast 2030”, the global market will reach USD 85,727.8 million at an 8.8% CAGR by 2030.

Automotive Semiconductor Market Analysis 

Electric vehicles have been quite expensive in recent years due to high production costs. The rise of new start-ups in the electric vehicle market provided fresh inventive ideas and technology, which aided in lowering vehicle electrification production costs. As a result, buyers’ attention has shifted to the electric vehicle category. Fuel price increases have also accelerated vehicle electrification. Thus, the rising trend of vehicle electrification will boost market growth over the forecast period.

Key Players 

Eminent market players profiled in the global automotive semiconductor market report includes,

  • NXP Semiconductors
  • Renesas Electronics
  • Infineon Technologies
  • STMicroelectronics
  • Robert Bosch GmbH
  • Texas Instruments
  • ON Semiconductor
  • ROHM
  • Toshiba
  • Analog Devices

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Increasing Development of Autonomous Cars to offer Robust Opportunities 

The increasing development of self-driving vehicles to improve safety will push top firms to invest in semiconductors, which in turn will offer lucrative opportunities for the market over the forecast period.

Automotive Semiconductor Market Restraints and Challenges 

Operational Failures to act as Market Restraint 

The operational failures and high costs coupled with complex structure of such automobile computer chips may serve as market restraints in the forecast period.

Automotive Semiconductor Market Segmentation 

The global automotive semiconductor market has been bifurcated based on vehicle propulsion, vehicle type,…

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