North America is anticipated to remain lucrative throughout the assessment period 2020-2030.
The micro-components (processors) segment is anticipated to witness an accelerated expansion of 7.0% during the projected period.
The passenger vehicle types segment will continue to lead the global market among other segments.
The safety application category is likely to rise at a higher pace over the assessment period.
The automotive industry will remain a key beneficiary throughout the projected period.
Automotive Semiconductor Market – Drivers
Increasing preference for best-in-class features and greater performance in motor vehicles boost the market demand.
Steady growth in the need for the safety attributes in ultra-modern vehicles will propel market growth.