According to Future Market Insights (FMI), the East Asia automotive semiconductors market is predicted to grow at a CAGR of 12.1% from 2023 to 2033. The market is expected to be valued at $26,742.4 million by the end of 2033. It is expected to exceed a worth of $9,467.1 million by 2023.
Automotive semiconductors are important electronic components found in cars and trucks in East Asia. These semiconductors are used to regulate, safeguard, and control automotive electrical systems.
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.
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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.
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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.
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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
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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