Automotive Chips Market Size, Industry Trends, Share and Forecast 2022-2028

The global automotive chips market is anticipated to grow at a considerable CAGR of 14.9% during the forecast period (2022-2028). Growing participation of the market players to develop and introduce automotive chips is anticipated to bolster the growth of the automotive chips market during the forecast period. The automobile market has been facing the chip shortage issue for a few years, which has restricted most of the vehicle market players to deliver on the time and to fulfill the vehicle demand in the market. As a result of which several automotive market players are focusing on adopting various strategic initiatives such as partnerships, collaborations, and others.

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For instance, in November 2021, Ford Motors partnered with GlobalFoundries to increase its short, and long-term supply of semiconductor chips. Simiarly, within the same month, Samsung also introduced its three new chips for automobiles: Exynos Auto T5123, Exynos Auto V7, and S2VPS01 Power IC. The Exynos Auto V7 was a processing chipset for in-car infotainment systems. The Exynos Auto T5123 was a chipset for 5G connectivity, while the S2VPS01 Power IC was an ASIL-B certified S2VPS01 power management chip for processors of the Exynos V series.

Moreover, in February 2022, Hyundai Mobis planned to invest $6.72 billion in automotive chips, mobility, and others areas in the upcoming 3 years. The company revealed its plan in a regulatory filing outlining its updated policy to promote shareholder value, which included a plan to maintain the dividend payout ratio of 20-30 % for the fiscal year 2022. Out of the total amount, the company will spend about 3-4 trillion won to boost its competitiveness in semiconductor, software and autonomous driving businesses, as well as new areas including urban air mobility (UAM) and robotics. The rest of the investment will be used for capital expenditures to ensure stable supply of core parts, including car components for electric vehicles.

Market Coverage

•                 The market number available for – 2021-2028

•                 Base year- 2021

•                 Forecast period- 2022-2028

Segment Covered- 

·                  By Product Type

·                  By Application

·                  By Vehicle type

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

Competitive Landscape- including Microchip Technology Inc., NVIDIA Corp., Robert Bosch GmbH, Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments (TI), and others.

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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

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

·        Latin America 

·        Middle East & Africa

               Company Profiles 

·        Advanced Micro Devices, Inc. (Xilinx) 

·        Arm Ltd. 

·        General Motors Co. 

·        Infineon 

·        KPIT Technologies Ltd. 

·        Maxim Integrated Products, Inc. 

·        Micron Technology, Inc., NXP 

·        Semiconductors N.V. 

·        Qualcomm Inc. 

·        Renesas Electronics Corp., 

·        STMicroelectronics 

·        Synopsys 

·        TomTom International BV 

·        Toshiba Electronic Devices & Storage Corp. 

·        Toyota Motor Corp.

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