Passenger Cars Semiconductor Market: Top Companies, Industry Size & Share to 2028- TechSci Research

Introduction

The Global Passenger Cars Semiconductor Market, as detailed in the TechSci Research report titled “Global Passenger Cars Semiconductor Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, amounted to USD 37 billion in 2022, projecting a promising growth trajectory with an anticipated CAGR of 5.08% during the forecast period from 2024 to 2028.

Understanding Semiconductors in Automotive Industry

Semiconductors, essential electrical components capable of conducting electricity under specific conditions, play a crucial role in automotive applications. Installed in automobiles, these components, primarily composed of silicon and germanium, ensure the proper functioning of automotive electronics. They control various functions within vehicles, including managing the air conditioning system and ensuring overall vehicle safety.

Market Drivers and Influences

Technological Advancements in Vehicles

The Passenger Cars Semiconductor Market experiences a constant drive for innovation propelled by the increasing complexity and connectivity of modern vehicles. Automakers respond to rising consumer expectations by integrating cutting-edge technologies to enhance safety, efficiency, connectivity, and user experience within vehicles.

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Electrification and Semiconductor Demand

The trend towards electric and hybrid vehicles has intensified the demand for semiconductor components that optimize electric drivetrains, battery management systems (BMS), and charging infrastructure. Advanced power semiconductor devices, such as silicon carbide (SiC) and gallium nitride (GaN) semiconductors, are pivotal in enhancing energy efficiency and reducing power losses during energy conversion, ultimately improving the range and fuel economy of EVs and HEVs.

Advanced Driver-Assistance Systems (ADAS)

ADAS, increasingly standard in passenger vehicles, relies heavily on semiconductor technologies like sensors, microcontrollers, and processors. These components enable real-time data processing for features such as adaptive cruise control, lane-keeping assist, automatic emergency braking, and self-parking capabilities, significantly enhancing vehicle safety and reducing accident risks.

Infotainment and Connectivity

Consumer expectations for seamless connectivity, advanced navigation, and entertainment options in vehicles drive semiconductor innovation. In-vehicle Wi-Fi, 5G connectivity, streaming services, smartphone integration, and high-quality infotainment systems are made possible through responsive touchscreens, voice recognition, and powerful microprocessors, ensuring a satisfying user experience.

Autonomous Driving Technologies

The development of autonomous driving technologies, from Level 2 to Level 5 automation, necessitates a sophisticated network of sensors, cameras, LiDAR, and powerful processors dependent on semiconductors. These components process vast amounts of data and execute complex algorithms, fundamentally altering the landscape of mobility and safety in passenger vehicles.

Emission Standards and Sustainability

The Passenger Cars Semiconductor Market contributes significantly to achieving stringent emission standards and sustainability goals worldwide. The market aids in enhancing the efficiency of internal combustion engines (ICEs) and electric powertrains, aligning with efforts to reduce greenhouse gas emissions from vehicles and address climate change.

Semiconductor Market Impact on Safety and ADAS

Safety Features and ADAS Integration

Safety remains a paramount concern for automakers and consumers alike. ADAS features, relying on semiconductor components, enable critical safety functions such as adaptive cruise control, lane-keeping assist, automatic emergency braking, and self-parking capabilities. Real-time data processing facilitated by semiconductor solutions enhances vehicle safety and mitigates accident risks.

Who Will Benefit from This Report

Automotive Manufacturers: Insights into semiconductor trends and technological advancements to align their offerings with evolving consumer demands.
Semiconductor Manufacturers: Knowledge of market drivers and innovations to develop specialized components for automotive applications.
Investors: Identifying growth areas and potential investment opportunities within the semiconductor market for passenger cars.
Regulatory Bodies: Understanding the market’s role in achieving emission standards and sustainability goals to frame effective regulations.
Consumers: Insights into evolving safety features and technological advancements driving enhanced user experiences within vehicles.

The Global Passenger Cars Semiconductor Market represents a dynamic and rapidly evolving sector within the automotive industry. Its impact on vehicle safety, efficiency, connectivity, and user experience is substantial, driven by technological innovations and the increasing complexity of modern vehicles. Semiconductor technologies, at the core of these advancements, serve as the foundation for shaping the future of passenger cars, influencing every aspect from safety to entertainment and autonomous mobility. Understanding these market dynamics is pivotal for stakeholders to navigate and leverage opportunities within this transformative industry.

Major companies operating in Global Passenger Cars Semiconductor Market are:

Robert Bosch GmbH
Infineon Technologies AG
STMicroelectronics
NXP Semiconductors
Toshiba Corporation
On Semiconductor Corporation
ROHM Co., Ltd.
Texas Instruments Incorporated
Renesas Electronics Corporation
Denso Corporation

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“The Global Passenger Cars Semiconductor Market is a dynamic and rapidly evolving sector within the automotive industry. It is driven by key trends such as rapid technological advancements, the push for vehicle electrification, stringent emission standards, increasing demand for connectivity and infotainment, and the proliferation of advanced driver-assistance systems (ADAS). Semiconductors are at the heart of these developments, powering everything from electric drivetrains and safety features to in-vehicle entertainment and connectivity solutions. As consumers demand safer, more efficient, and technologically advanced vehicles, semiconductor manufacturers play a pivotal role in shaping the future of passenger cars. Additionally, government initiatives promoting electric vehicles and sustainability are further propelling the market toward an eco-friendlier and connected automotive landscape.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Passenger Cars Semiconductor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component Type (Processor, Analog IC, Discrete Power Device, Sensor, Memory Device), By Application Type (Powertrain, Safety, Body Electronics, Chassis, Telematics & Infotainment) By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Passenger Cars Semiconductor Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Passenger Cars Semiconductor Market.

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