Automotive Chip Market Size, Growth and Competition by Manufacturers 2025

The global automotive chip market is anticipated to value USD 56.24 billion until 2025. It is also expected to register a CAGR of 10.7% over the forecasted years, 2017 to 2025. Increasing demand for infotainment, navigation, and lighting systems among luxury vehicles for enhancing driver and passenger experience is projected to drive the market growth for automotive chips.

The analog ICs component segment is expected to gain traction in the upcoming years due to their usage in automating premium and luxury vehicles. The logic ICs are also witnessing significant demand across the globe due to their ability to control navigation and infotainment systems in the vehicles.

The passenger vehicle type segment is anticipated to register the fastest growth over the forecasted period due to rising demand for luxury sedans and SUVs owing to its feature of enhanced passenger comfort. On the other hand, the commercial vehicles segment is also gaining traction due to the rising need to spend on mining, e-commerce, and infrastructure activities.

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COVID-19 Impact Insights

The global automotive chip market has been negatively impacted on account of the ongoing COVID-19 pandemic. The imposition of lockdown and travel restrictions has reduced the usage of automobiles. As the majority of the key players operating in this market are located in China, their international supply chain has been hindered. Moreover, a decrease in the demand for smart and luxury vehicles due to economic instability has hindered the market growth. However, rapid technological advances being undertaken by the key players for enhancing the usage of these chips and the emergence of IoT technology in the connected cars are projected to overcome this obstruction and register significant growth over the post-pandemic period.

The Asia Pacific registered a significant share across the global automotive chip market in 2016 due to the surging number of key automotive manufacturers across China, Japan, and India. North America generated a revenue of USD 3.41 Billion on account of increasing demand for personal vehicles prevailing among the people residing in developed countries like the U.S. and Canada.

The market for the automotive chip includes key players such as Texas Instruments Incorporated, ON Semiconductor, Renesas Electronics, Infineon Technologies, and NXP Semiconductors. Huge investments are being undertaken by these players to develop innovative and technologically advanced products for gaining a competitive advantage and widening their global presence.

Further key findings from the report suggest:

• In 2016, the market share of body electronics segment exceeded 25.0% across the global market.
• The passenger vehicle type segment is projected to register a CAGR of around 10.8% from 2017 to 2025.
• In 2016, Asia Pacific registered significant share across the global automotive chip market.

Global Automotive Chip Market: Key Players

Texas Instruments Incorporated, ON Semiconductor, Renesas Electronics, Infineon Technologies, and NXP Semiconductors. 

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