The APAC automotive semiconductor market is expected to witness enormous growth during the forecast period, owning to the increasing concerns for passenger’s safety, along with the growing importance of original equipment manufacturers (OEMs) toward the development of an efficient production option, by introducing additional high-tech features in their latest vehicle models. Additionally, the growing adoption of advanced driver-assistance systems as well as hybrid and electric vehicles, has further driven the growth of the market.
On the basis of vehicle type, the APAC automotive semiconductor market is categorized into, two-wheelers, passenger cars, light commercial vehicles (LCVs), and medium and heavy commercial vehicles (M&HCVs). Among these, the passenger cars category is expected to showcase substantial growth during the forecast period, mostly due to significant increase in the purchase of sport utility vehicles (SUVs) and crossovers, in the APAC region. For instance, in India, sale of SUVs accounted for over 30% of the total passenger vehicle in 2018, and registered a jump of around 21%, from the previous year (2017).
Geographically, China and Japan are the most promising markets in the APAC region. China’s hastily growing automotive industry has overtaken the country’s economic growth in recent years, owning to the enhanced standard of living, coupled with the increasing disposable income of the people. Looking forward, India and the South Korea are also expected to display sturdy growth in the APAC automotive semiconductor market, during the forecast period.
Introduction of advanced mobility solution, such as autonomous driving technology, is a major growth driver for the APAC automotive semiconductor market. Autonomous vehicles are equipped with advanced driver-assistance systems, such as adaptive cruise control (ACC), blind spot monitor, glare-free high beam and pixel light, automatic parking system, automotive night vision system, automatic braking system, crosswind stabilizer, driver drowsiness detection system, lane change assistance system, and others. These advanced driving systems are stimulated with the help of semiconductors. Thus, with the increasing concern toward the development of a safer driving option, autonomous vehicles sale is expected to scale up, which would lead to the growth of the automotive semiconductor market, in the region.
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Some of the major companies operating in the APAC automotive semiconductor market are Analog Devices Inc., Infineon Technologies AG, Infineon Technologies AG, Renesas Electronics Corporation, NXP Semiconductors N.V., On Semiconductor Corporation, Robert Bosch, Sensata Technologies Holding N.V., Rohm Co. Ltd., Stmicroelectronics N.V., Toshiba Corporation, and Texas Instruments Incorporated.
