Automotive Chip Industry| COVID-19 Impact, Growth Rate, Future Forecast to 2023

Automotive Chip Industry Overview

Factors such as the inclusion of augmented reality in automotive, LED lights, Lidar sensor, and EV batteries is providing high traction to the global Automotive Chip Industry. Intense competition among manufacturers is also helping the global Automotive Chip Industry on its growth track.

Competitive Landscape

Toshiba Corporation (Japan), and Denso Corporation (Japan). These companies are employing several strategies like merger, acquisition, product launch, innovation, and others.

In July 2019 Toyota announced its plan to collaborate with Denso to start chip venture. This is to stand in sync with the burgeoning demand for the connected and autonomous vehicles.

Segmentation

MRFR’s prediction of the global Automotive Chip Industry relies heavily on the segmentation they made in the report. These segments are product, application, vehicle type, and propulsion. The segmentation is backed by figures and facts of each section that have been derived from value-based and volume-based analyses conducted by analysts.

Based on the vehicle type, the Automotive Chip Industry has two segments, passenger car and commercial vehicle. The passenger car segment had over 71.2% in 2017, with its expected valuation touching almost USD 25,132.7 million. Its expected CAGR would reach 12.32% during the forecast period.

Based on the propulsion, the Industry includes ICE, BEVs, and HEVs. The ICE vehicle segment covered over 95.57% in 2017 with valuation scoring USD 34,072.2 million. The segment has a promise to rise by 12.67% CAGR during the forecast period.

Regional Analysis

The global Automotive Chip Industry, if considered on the basis of regions, can be segmented by North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). This analysis has its foundation in data that helps in the revelation growth pockets.

The APAC market is the largest market with a more than half of the market coverage in 2017. It occupies almost 51.76% share of the global market. The region is witnessing extraordinary drive from countries like China was the largest market in 2017, valued at USD 9,659.5 million. In India, China, and Japan, the market has found strong infrastructures for the necessary push it needed. The need for semiconductor devices and growing demand for luxury and premium cars are expected to take the regional market to a different height.

Get Full Report @ https://www.marketresearchfuture.com/reports/automotive-chip-market-7676