The global memory semiconductor market for automotive industry is projected to grow at a CAGR of 7.46% to reach US$6.130 billion by 2027, from US$3.705 billion in 2020.
Semiconductors are used in the manufacture of chips for electronic devices. In the semiconductor chip, every bit of binary data is stored in a tiny circuit known as a memory cell, which consists of several transistors. It is used in computer memory as digital data storage. A commonality among semiconductors is the property of random access, which means that they take the same amount of time to access any memory location, allowing data to be efficiently accessed in any random order. Due to increasing disposable income, rapid urbanization, and modernization, the audience is upgrading its standard of living. Therefore, vehicles have become a status symbol and a surge in demand for vehicles has been witnessed. Furthermore, the production of cars is expanding. The growing trend of vehicle electrification and better safety features is likely to increase semiconductor demand in this market. As the demand for hybrid and electric vehicles grows, semiconductors will see increased utilization in this industry throughout the anticipated time.
Memory semiconductor is demanded across various industries such as consumer electronics, automation, telecommunication, and information technology. The memory semiconductor market can be classified into two main categories broadly-ROM (read-only memory) and RAM (random-access memory). For temporary data storage mainly RAM is used and for more semi-permanent storage ROM is recommended to be used. ROM is classified into EPROM (erasable programmable ROM), PROM (programmable ROM), and flash memory. RAM is further segmented into SRAM (static RAM), DRAM (dynamic RAM), SDRAM (synchronous dynamic RAM), and MRAM (magnetic RAM). The era of advanced technology and increasing usage of Artificial Intelligence has been positively impacting the demand for the memory semiconductor market for the automotive industry.
The automotive memory semiconductor market has grown due to increased automotive production throughout the world.
This is bolstered further by an increase in demand for feature-rich automobiles that are pleasant and safe. Demand for semiconductor wafers was driven by 3D mapping applications, the introduction of electric cars, electrification, and automobile automation. They require the newest technology-featured semiconductors for navigation control, entertainment systems, and collision detection, which is increasing market demand. Advanced technologies employed in matrix-led lighting, upgraded LiDAR sensors, Advanced Driver Assistance Systems, and augmented reality technology such as head-up displays are all contributing to the increase.
The demand for semiconductor solutions in automobiles is also driving innovation and the creation of intelligent automotive chips to ensure the safe operation of automobiles.
The growing demand for error-free software that runs on efficient hardware is leading the automobile sector to re-invent automobile solutions from a semiconductor standpoint. Furthermore, rising customer desire for connected and automated automobiles to provide a better experience drives industry growth. The increase in middle-class family income is growing demand for passenger autos and private cars. Intelligent recent versions of semiconductor devices include blind-spot detection systems, backup cameras, accident sensors, intelligent traffic controls, lane-change aid, airbag deployment sensors, and emergency stop systems. In the automobile sector, semiconductors are used to operate the fail-safe mechanism, manage electrical control unit operations, and automotive fault-tolerant technologies, which handle vehicle defects such as anti-lock brake connection, accelerator, and damaged starting motor.
Market Key Developments
|Market Size Value in 2020||US$3.705 billion|
|Market Size Value in 2027||US$6.130 billion|
|Growth Rate||CAGR of 7.46% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||NXP Semiconductors, Infineon Technologies AG, Micron Technology, Samsung, Integrated Silicon Solutions, Western Digital Corporation, SK Hynix, Renesas Electronics Corporation, Winbond, Toshiba Corporation|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the memory semiconductor market for automotive industry?
A1. The memory semiconductor market for automotive industry is projected to grow at a CAGR of 7.46% during the forecast period.
Q2. How is the memory semiconductor market for automotive industry segmented?
A2. The memory semiconductor market for automotive industry has been segmented by type and geography.
Q3. What will be the memory semiconductor market for automotive industry size by 2027?
A3. The global memory semiconductor market for automotive industry is projected to reach a total market size of US$6.130 billion by 2027.
Q4. What is the size of the global memory semiconductor market for automotive industry?
A4. Memory Semiconductor Market For Automotive Industry was valued at US$3.705 billion in 2020.
Q5. What factors are anticipated to drive the memory semiconductor market for automotive industry growth?
A5. The growing trend of vehicle electrification and better safety features is likely to increase semiconductor demand in this market.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL MEMORY SEMICONDUCTOR MARKET FOR AUTOMOTIVE INDUSTRY, BY TYPE
6. GLOBAL MEMORY SEMICONDUCTOR MARKET FOR AUTOMOTIVE INDUSTRY, BY GEOGRAPHY
6.3. Europe Middle East and Africa
6.4. Asia Pacific
6.4.3. South Korea
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. NXP Semiconductors
8.2. Infineon Technologies AG
8.3. Micron Technology
8.5. Integrated Silicon Solutions
8.6. Western Digital Corporation
8.7. SK Hynix
8.8. Renesas Electronics Corporation
8.10. Toshiba Corporation
Infineon Technologies AG
Western Digital Corporation
Renesas Electronics Corporation
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