The North America automotive semiconductor market accounted for US$ 7,140. 9 Mn in 2017 and is expected to grow at a CAGR of 5. 5% over the forecast period 2018-2027, to account for US$ 12,267. 9 Mn in 2027.
New York, Jan. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Automotive Semiconductor Market to 2027 - Regional Analysis and Forecasts by Component ; Application ; Vehicle Type" - https://www.reportlinker.com/p05774524/?utm_source=GNW
Factors including the increase in automotive manufacturing significantly driving the automotive semiconductor market. However, the integration of advanced semiconductors increases the upfront cost of the vehicle in developing regions are impeding market growth. Bolstering Demand for Electric Vehicles is opportunistic for the growth of the market. The automotive industry has experienced the emergence of several new carmakers over the years. The automotive giants are constantly eyeballing on the electric vehicle segment as the section has attracted several customers across North America. Major players catalyzing the automotive semiconductor market for electric vehicles worldwide include Tesla, BMW, Nissan, Ford, and Volkswagen among others. Electric vehicles consist of several types of semiconductors which enhance the reliability, safety, and performance of the vehicles. As per the International Energy Agency, the global fleet of electric vehicles grew to 3.1 Mn in 2017, marking a 54% growth over the last year. The electrification of automobiles is ushering the automotive industry and the industries associated with it to a greater extent. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the automotive semiconductor market.
The automotive semiconductor market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the automotive semiconductor market further.
For instance, the governments of the US, Canada, and Mexico have taken various measures to promote and attract investments in its automobile component manufacturing industry.For example, Automobile Innovation Fund Program, introduced in 2008 supports the automotive firms by providing them funds in the field of R&D to build innovative technologies that enhance the fuel efficiency of the vehicles.
The US Government has implemented the GHG regulations which facilitate in reducing the fuel consumption pattern and CO2 emission, thereby leading to a clean environment in the region.It is noted that fuel-efficient vehicles have driven the demand for semiconductor content in cars.
These initiative provide various benefits to the US automotive semiconductor based companies located in the region thus, increasing the growth of automotive semiconductor markets. This is further expected to provide the automotive semiconductor market players to cope up with the rapidly transforming automotive industry. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of the automotive semiconductor market in the region.
On the basis of component, the microcontroller segment is leading the automotive semiconductor market.However, the memory segment is anticipated to grow at the highest CAGR.
The original equipment manufacturers are integrating their vehicles with advanced distributed memory chips with an objective to store several types of data.Various types of distributed memory in automotive include DRAM, SRAM, FLASH, and ROM among others.
The memory used in automobiles is very similar to that of used in commercial memory or consumer goods memories.These memories also have an error correcting code which enables the memory to gather correct information from the memory access and processes it to store the correct information for future usage.
In recent vehicles, the demand for a main centralized processor with a massive memory configuration is soaring, which is helping the memory manufacturers to invest substantial amounts in innovation and development of such memory. Currently, the market players are looking ahead to support automotive semiconductor industry by innovating advanced technological components.
The overall automotive semiconductor market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive semiconductor market.
It also provides an overview and forecast for the automotive semiconductor market based on all the segmentation provided with respect to the North America region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts, and key opinion leaders specializing in the automotive semiconductor industry. Some of the players present in automotive semiconductor market are NVidia Corporation, Intel Corporation, NXP Semiconductors NV, Infineon Technologies AG, Rohm Semiconductor, Texas Instruments Inc., Renesas Electronics Corporation, Robert Bosch Gmbh, ON Semiconductor Corporation, and STMicroelectronics NV among others.
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