Dallas, TX / CRWE PRESS RELEASE / Dec. 9, 2021 - According to the recent study the Automotive Chip Market is projected to grow at a CAGR of 7% from 2019 to 2024. Growth in this market is primarily driven by rising concern for vehicle safety, stringent government regulations, growing electronic content per vehicle, increasing awareness regarding energy-efficient lighting systems, and incorporation of Engine Control Unit (ECU) in cars.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in automotive chip market by component (analog ICs, logic ICs, microcontrollers & microprocessors, and memory), application (chassis, powertrain, and safety, telematics & infotainment, and body electronics), end use (passenger car [small cars, compact cars, mid-sized cars, luxury cars, suvs & crossovers], light commercial vehicles, heavy commercial vehicles, and electric vehicles), and region (North America, Europe, Asia Pacific, and Rest of the World).

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“Passenger car market is expected to remain the largest segment during the forecast period.”

Based on end use industry, the automotive chip market is segmented into passenger car [small cars, compact cars, mid-sized cars, luxury cars, suvs & crossovers], light commercial vehicles, heavy commercial vehicles, and electric vehicles. Lucintel forecasts that the passenger car market is expected to remain the largest segment.

“Asia pacific will dominate the automotive chip market in near future”

Asia Pacific will remain the largest region over the forecast period due to increasing vehicle production and availability of cost-effective after-market solutions.

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Major players of automotive chip market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Texas Instruments, Renesas Electronics, Infineon Technologies, STMicroelectronics, NXP Semiconductors, and Robert Bosch are among the major automotive chip providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automtoive-chip-market.aspx or helpdesk@lucintel.com