Asia Pacific Automotive Semiconductor Market to 2027 - Regional Analysis and Forecasts by Component ; Application ; Vehicle Type

NEW YORK, Jan. 28, 2020 /PRNewswire/ -- The APAC automotive semiconductor market accounted for US$ 16,967.9 Mn in 2017 and is expected to grow at a CAGR of 10.2% over the forecast period 2018-2027, to account for US$ 44,069.1 Mn in 2027. Factors including the rise in automotive manufacturing and continuous partnership of automotive OEMs with semiconductor manufacturers driving the APAC automotive semiconductor market. However, the integration of advanced semiconductors enhances the overall cost of vehicles are impeding market growth. Growing adoption of electric vehicles is opportunistic for the growth of the APAC automotive semiconductor market. 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 the 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 various types of semiconductors. In the current automotive market, major manufacturers are integrating their vehicles with technologically enhanced sensors, in order to improve the safety of the vehicles. Apart from sensors, several other types of semiconductors are also being integrated on the newer vehicles, which is paving the path for semiconductor industry players to generate substantial revenue. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the APAC automotive semiconductor market.

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