The global automotive chips market is anticipated to grow at a significant CAGR of 14.9% during the forecast period. One of the core factors that is thriving the market is the growing advanced features in the vehicles. With technological development, vehicles have been getting more and more advance with the latest technologies. Most of the technologies are pushing for autonomous features such as advanced driver-assistance systems (ADAS), Autopilot, emergency braking systems, auto on/off, and others. All these systems require automotive chips to perform accurately. Thus, the demand for the chips is so high that the market players are increasing production exponentially. For instance, in September 2021, The US chipmaker, GlobalFoundries informed that it is on track to double the output of its automotive chips for 2021 in response to an unprecedented global supply crunch and spent a further $6 billion for expanding overall production capacity.
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COVID-19 pandemic had impacted most industries owning to the lockdown in most nations to control the spread of the virus. It affected the overall demand for vehicles in the market. However, the automotive chips market grew exponentially as the demand for the electric vehicle, and advanced features in the vehicles grew significantly. As per the annual report of Taiwan Semiconductor Manufacturing Co. Ltd., the company generated a net income of $17.60 billion on consolidated revenue of $45.51 billion, which increased 57.5% and 31.4% respectively from 2019 level of $11.18 billion net income and $34.63 billion consolidated revenue.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Chips Market Report Segment
By Product Type
- Logic ICs
- Analog ICs
- Microcontrollers & Microprocessors
By Application
- Chassis
- Powertrain
- Safety
- Telematics & Infotainment
- Body Electronics
By Vehicle Type
- Passenger Vehicles
- Commercial vehicles
Global Automotive Chips Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive chips market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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