London, 04 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global semiconductor market for the automotive sector 2015-2019, which is expected to grow at a CAGR of 9.7% during the forecast period of 2014-2019.
Recent advances in technology, along with durability, reduced fuel consumption, superior performance, enhanced quality, and energy efficiency, are driving demand for automotive ICs. Moreover, need for safety and security, as advanced safety features are now available in compact and entry-level cars in emerging markets.
Features such as lighting and temperature are controlled electronically. Infotainment and entertainment systems are becoming more sophisticated with increased connectivity in vehicles.
“The production of automobiles in emerging economies is high compared to developed economies, as the disposable income of consumers is rising,” says Faisal Ghaus, Vice President of Technavio.
“Currently, innovations in the automotive sector are predominantly electronic. The innovations that were introduced for luxury-segment cars are now less expensive and are being introduced for standard vehicles, as well.”
Key Market Drivers
- Increased focus on comfort and convenience
- Growing safety and security concerns
- High production volumes of automobiles
- Increasing demand from emerging economies
Key Market Trends
- Emphasis on reduction of carbon dioxide emissions
- Adoption of safety systems
- Information security
- Increased R&D spending
Key Market Vendors
- Freescale Semiconductors Inc.
- Infineon Technologies AG
- Renesas Electronics Corp.
- STMicroelectronics
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
