Automotive Semiconductor market in North America is expected to grow from US$ 7,140.9 Mn in 2017 to US$ 12,267.9 Mn by the year 2027. This represents a CAGR of 5.5% from the year 2018 to 2027.
Substantial Growth in Automotive Manufacturing is fueling the automotive semiconductor market. The automobile manufacturers worldwide are experiencing significant demand for vehicles ranging from passenger vehicles, lightweight commercial vehicles, and heavyweight commercial vehicles. Higher disposable income in the developed countries and increasing purchasing power capacity among the population in developing countries is significantly driving the automobile procurement. For instance, the global automotive production as per International Organization of Motor Vehicle Manufacturers accounted for 97.3 Mn in 2017 as compared to 95.1 Mn in 2016. The calculated year on year growth rate of automotive production was 2.36% from 2016 to 2017. With the increase in automobile manufacturing, the demand for advanced technologies integrated on to the vehicles is simultaneously increasing among the end users. This factor has created a potential market space for automotive semiconductor market.
The significant increase in the demand for fully-autonomous car is anticipated to fuel the automotive semiconductor market growth. The automobile manufacturers to continuously focus on innovating, designing and developing autonomous cars which have already attracted a fair percentage of customers in major automotive manufacturing countries. Pertaining to the consumers' demand and attraction toward smart and fully-autonomous cars, semiconductors are expected to become an integral part of the innovations in the automotive industry in the coming years. Attributing to these parameters, both the industry players i.e. automotive and semiconductor industry are constantly focusing on improving technologies, negotiating prices of raw materials and the finally integrating the cars with robust technologies. For instance, in 2018, NVIDIA and Volkswagen has shared their ideas to use AI and deep learning in order to develop a new generation of intelligent Volkswagen vehicles. These vehicles would use the NVIDIA DRIVE IX platform to build a new cockpit experience and higher safety. All these initiative by the market player are enhancing the growth of automotive semiconductor market.
US is anticipated to leads the automotive semiconductor market across the North American region through the forecast period. The United States is home to three of the leading automotive groups in the world — General Motors, Fiat-Chrysler Automotive, and Ford Motor. Also, it is home to some of the leading semiconductor manufacturers including Intel, Texas Instruments, ON Semiconductors, and others. Many of the automakers have engine & transmission plants and conduct design, R&D, and testing activities in the US. According to the Auto Alliance, almost a fifth of the R&D investments done globally is spent in the US. In 2017, the country had exported over 2 million LCV and over 130,000 HCV & MCV to more than 200 markets along with an additional export of automotive parts worth over $85 billion. High demand for infotainment systems and growing need for safety, better communication, and comfort in the vehicles are proliferating the automotive semiconductor market. The figure given below highlights the revenue share of Mexico in the North American automotive semiconductor market in the forecast period:
Exhibit: Mexico Automotive Semiconductor Market Revenue and Forecasts to 2027 (US$ Mn)
NORTH AMERICA AUTOMOTIVE SEMICONDUCTOR – MARKET SEGMENTATION
By Components
By Application
By Application
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 7,140.9 Million |
| Market Size by 2027 | US$ 12,267.9 Million |
| CAGR (2018 - 2027) | 5.5% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
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The North America Automotive Semiconductor Market is valued at US$ 7,140.9 Million in 2017, it is projected to reach US$ 12,267.9 Million by 2027.
As per our report North America Automotive Semiconductor Market, the market size is valued at US$ 7,140.9 Million in 2017, projecting it to reach US$ 12,267.9 Million by 2027. This translates to a CAGR of approximately 5.5% during the forecast period.
The North America Automotive Semiconductor Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Automotive Semiconductor Market report:
The North America Automotive Semiconductor Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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Essentially, anyone involved in or considering involvement in the North America Automotive Semiconductor Market value chain can benefit from the information contained in a comprehensive market report.
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