Strategy Analytics has released a new report on the global automotive semiconductor market. The report predicts the market worth $23.7 billion in 2011 to grow at 9.3% CAGR till 2016.
Though uncertainties in the short term market exist, the trend for safety, environment, and affordability pose a significant opportunity for the global automotive semiconductor market. The report predicts a demand growth of 11.5% for 2012, which is based on modest predictions.
This year a decline in vehicle production growth is being observed in Europe, while growth has been predicted in North America, Thailand, Japan, Brazil, Russia, India and China regions which will lead to revenues of $26.4 billion. The increase in adoption of electronically controlled features in emerging as well as mature markets, are driving the outlook for long-term growth of automotive semiconductor products.
The recovery in the market after the drastic affect of the natural disasters in Thailand and China along with the developments in the Chinese and North American markets is driving the growth of the automotive semiconductor revenue in 2012. Electronics innovations to provide driver information, advanced safety, pure and hybrid electric vehicles are also driving the growth.
The present Eurozone sovereign debt crisis will be a major factor in affecting the short term outlook on the global automotive semiconductor market.
The report is titled “Automotive Semiconductor Demand Forecast 2010 – 2019.”
Strategy Analytics offers advisory services as well as consulting and actionable market intelligence for wireless, mobile and digital consumer and automotive electronics firms. The company has offices in Asia, North America and Europe.