According to Future Market Insights (FMI), East Asia automotive semiconductors market is expected to surge with a CAGR of 12.1% during the forecast period from 2023 to 2033. The market is estimated to reach a valuation of US$ 26,742.4 million by the end of 2033. It is likely to top a valuation of US$ 9,467.1 million by 2023.
Key electronic components used in automobiles and trucks throughout East Asia are automotive semiconductors. These semiconductors are used in automobile electrical systems to regulate, protect, and control them.
These also make it possible for cars to run effectively and safely. Microcontrollers, power transistors, integrated circuits, memory chips, and sensors are a few types of automotive semiconductors that are frequently utilized in East Asia. The industry holds a 42% market share in East Asia for vehicle electronics.
Request a Sample of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-17107
The car industry is seeing a rapid development of safety features, which is likely to accelerate tremendously in the next ten years. In order to deliver a safer and more convenient driving experience, automakers are set to adopt semiconductors.
Rising adoption of self-driving cars is also projected to change the demand for automotive semiconductors across East Asia. It is further set to compel original equipment manufacturers (OEMs) to seek in-house designs.
Increased emphasis on autonomous vehicles (AVs) has already impacted demand patterns for automotive semiconductors in the region. Sales of specialized silicon chips suited to specific applications are expanding rapidly.
Only a few semiconductor vendors provide these bespoke chips. Various OEMs are increasingly creating them in-house to decrease development schedules and gain more control. With the growing need for custom silicon, more OEMs might follow suit.
Key Takeaways from East Asia Automotive Semiconductors Market Study:
- By product, the integrated circuits (IC) segment is anticipated to expand at a CAGR of 12.4% over the forecast period.
- By vehicle type, it is estimated that electric/hybrid vehicles would surge at a CAGR of 13.5% during the assessment period.
- By application, the safety & control segment is estimated to broaden at a CAGR of 15.4% in the next ten years
- By end user, the automotive aftermarket vendors segment is projected to elevate at a CAGR of 13.2% in the next ten years.
- Japan automotive semiconductors market is predicted to showcase a CAGR of 14.0% during the estimated period.
“East Asia automotive semiconductors market is anticipated to expand rapidly during the forecast period. It is as a result of rising demand for connected automobile, autonomous driving, and advanced driver assistance systems (ADAS) technology.” – Says a lead analyst.
Speak to the Research Expert @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-17107
Electrification of Vehicles to Catapult Automotive Semiconductor Sales in East Asia
Demand for semiconductors is increasing among both electric vehicles (EVs) and hybrid electric vehicles (HEVs) manufacturers. Sales of conventional automobiles are also increasing due to the implementation of government regulations to reduce emissions and surge fuel efficiency.
There is a significant opportunity to cut carbon dioxide (CO2) emissions in the existing context of conventional internal combustion engines (ICEs). In order to run an engine powerfully and make significant changes, various of controls and sensors are required.
For instance, in order to reduce CO2 emissions, the government of China plans to implement 6A emission requirements by 2020. Further advancements in the electrification of power trains are necessary for HEV or EV developments.
Governments of various countries across East Asia are in process of completely banning ICE-based vehicles. It is further enabling China to aim to increase EV production through automakers.
Several automakers have a target to have EVs account for more than 20% of their sales within 10 years. It is projected to drastically increase the production of EVs. As leading OEMs achieve EV production goals, the semiconductor landscape is expected to broaden significantly.
Competitive Landscape
Automotive semiconductor manufacturers in East Asia are embracing digitalization by implementing advanced technologies such as artificial intelligence, big data, and the internet of things. They are aiming to improve the efficiency and quality of their products & production processes.
A few other manufacturers are strengthening their partnerships with automakers. They are striving to ensure that their products meet specific needs of each automaker. They are also aiming to improve the integration of their products with vehicle designs.
For instance,
- NXP Semiconductors and Volkswagen established a strategic partnership in October 2020. Both companies are aiming to provide advanced driver assistance systems (ADAS) and autonomous driving solutions.
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-17107
Get More Valuable Insights into East Asia Automotive Semiconductors Market
Future Market Insights (FMI) has divided the East Asia automotive semiconductors market into five sections. The market is segmented by product (processors, sensors, integrated circuits, discrete devices, memory units), vehicle type (fuel-based vehicles, electric/hybrid vehicles), application (powertrain, safety & control, vehicle body electronics, chassis, telematics & infotainment), end user (automotive manufacturers/OEM, automotive aftermarket vendors), and countries.
East Asia Automotive Semiconductors Market Outlook by Category
By Product:
- Processors
- Sensors
- Integrated Circuits
- Discrete Devices
- Memory Units
- Others
By Vehicle Type:
- Fuel-based Vehicles
- Passenger Cars
- Commercial Vehicles
- Electric/Hybrid Vehicles
- Passenger Cars
- Commercial Vehicles
By Application:
- Powertrain
- Safety & Control
- Vehicle Body Electronics
- Chassis
- Telemetric and Infotainment
By End User:
- Automotive Manufacturers/OEMs
- Automotive Aftermarket Vendors
Country:
- China
- Japan
- South Korea
About Us
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Other Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs