Automotive Semiconductor market in Europe is expected to grow from US$ 9,257.4 Mn in 2017 to US$ 17,613.0 Mn by the year 2027. This represents a CAGR of 6.6% from the year 2018 to 2027.
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Automotive Semiconductor Market in Europe Driven by Key Partnerships and EV Growth
The European automotive semiconductor market is experiencing significant growth, primarily fueled by the continuous collaboration between automotive original equipment manufacturers (OEMs) and semiconductor manufacturers, as well as the surging demand for electric vehicles (EVs).
Automakers worldwide are under constant pressure to integrate advanced electronics and semiconductor components into their vehicles to boost performance. The increasing trend of vehicle electrification is a major factor propelling the semiconductor market in the automotive sector. To meet customer demands, car manufacturers are increasingly forming partnerships with semiconductor companies. For example, in January 2018, Audi AG partnered with ON Semiconductor to integrate ON Semiconductor's innovations into their newer models. This collaboration aimed to satisfy evolving consumer expectations regarding vehicle safety, reliability, and performance, thereby creating a strong market opportunity for automotive semiconductors in Europe.
The rising demand for electric vehicles is further expected to accelerate the growth of the European automotive semiconductor market. Automobile manufacturers are continuously focusing on innovating, designing, and developing autonomous cars, which have already garnered significant customer interest in major automotive manufacturing countries. As consumers increasingly demand and are attracted to smart and fully-autonomous vehicles, semiconductors are poised to become an essential component in future automotive innovations. This trend is leading both the automotive and semiconductor industries to focus on improving technologies, negotiating raw material prices, and ultimately integrating cars with robust technologies. For instance, in 2018, Intel unveiled the first autonomous vehicle in its 100-car test fleet. Additionally, companies like Nissan, BMW, and Volkswagen are adopting Mobileye-based mapping designs. Intel also announced new collaborations with NavInfo and SAIC Motor to expand crowdsourced map building into China. All these initiatives by market players are significantly contributing to the expansion of the European automotive semiconductor market.
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Germany is anticipated to leads the automotive semiconductor market across the European region through the forecast period. Germany is the largest contributor in the automotive market share of the region. A growing automotive electronics and rapid inclination of automotive manufacturers for including electronics integrations due to the emergence of autonomous driving and advanced driver assist systems has resulted in the higher demands for the automotive semiconductor. Germany has over 40 semiconductor fabs that are run by various companies that include NXP, Infineon, the Fraunhofer Institute research organization, and Osram/Siemens. Also, U.S. based companies including Texas Instruments and Global foundries have fabs in the country. This bolster the Europe automotive semiconductor market on the forecast period.
Europe Automotive Semiconductor Market Segmentation
By Components: Europe Automotive Semiconductor Market
- Optical Devices
- Sensors & Actuators
- LED
- Image Sensor
- Position Sensor
- Temperature Sensor
- Pressure Sensor
- Others
- Memory
- DRAM
- Flash
- Microcontrollers
- Analog ICs
- Logic and Discrete Power Devices
By Application: Europe Automotive Semiconductor Market
- Advanced Driver Assistance Systems
- Body Electronics
- Infotainment
- Powertrain
- Safety Systems
Vehicle Type: Europe Automotive Semiconductor Market
- Passenger Cars
- Lightweight Commercial Vehicle
- Heavyweight Commercial Vehicle
By Country: Europe Automotive Semiconductor Market
- France
- Germany
- UK
- Italy
- Spain
- Russia
- Rest of Europe
Companies Mentioned: Europe Automotive Semiconductor Market
- NVidia Corporation
- Intel Corporation
- NXP Semiconductors N.V.
- Infineon Technologies AG
- Rohm Semiconductor
- Texas Instruments Inc.
- Renesas Electronics Corporation
- Robert Bosch Gmbh
- ON Semiconductor Corporation
- STMicroelectronics N.V.
Europe Automotive Semiconductor Market Strategic Insights
Strategic insights for the Europe Automotive Semiconductor provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe Automotive Semiconductor Regional Insights
The geographic scope of the Europe Automotive Semiconductor refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
