According to a new market report by Lucintel, the future of the automotive chip market looks promising with opportunities in the passenger vehicle, light commercial vehicle, and electric vehicle segments. The automotive chip market is expected to grow with a CAGR of 7% from 2019 to 2024. The major drivers for this market are rising concern for vehicle safety, stringent government regulations, growing electronic content per vehicle, increasing awareness regarding energy-efficient lighting systems, and incorporation of Engine Control Unit (ECU) in cars.
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Within the automotive chip market, passenger vehicles, light commercial vehicles, and electric vehicles are the major end use industries. Passenger car is the largest end use segment for the automotive chip market.
Asia Pacific will remain the largest region over the forecast period due to increasing vehicle production and availability of cost-effective after-market solutions.
Texas Instruments, Renesas Electronics, Infineon Technologies, STMicroelectronics, NXP Semiconductors, and Robert Bosch are among the major manufacturers in the automotive chip market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive chip market by component, end use, application, and region. Lucintel has prepared a comprehensive research report titled "Automotive Chip Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the automotive chip market by component, end use, application, and region as follows:
By Component [$M shipment analysis for 2013 – 2024]
Analog ICs
Logic ICs
Microcontrollers & Microprocessors
Memory
By Application [$M shipment analysis for 2013 – 2024]
Chassis
Powertrain
Safety
Telematics & Infotainment
Body Electronics
By End use [$M shipment analysis for 2013 – 2024]
Passenger Car
Small cars
Compact cars
Mid-Sized cars
Luxury cars
SUVs & Crossovers
Light Commercial Vehicle
Heavy Commercial Vehicles
Electric Vehicles
By Region [$M shipment analysis for 2013 – 2024]
North America
Europe
Germany
Russia
France
United Kingdom
Italy
Asia Pacific
Japan
India
South Korea
Indonesia
China
The Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automtoive-chip-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.