#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
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/10444
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,…
Read on GNW: Automotive Semiconductor Market Projected to Hit USD