Automotive Semiconductor Market Growth at 7% CAGRJanuary 31, 2012
Market Research analysis of the market projects growth through 2014 driven in part by the design of lighter, more energy-efficient vehicles.
ROCKVILLE, MD--(Marketwire) -- MarketResearch.com has announced the addition of the new report "Global Automotive Semiconductor Market 2010-2014" to their collection of Automotive market reports.
The global automotive semiconductor market is forecast to grow at a CAGR of 7.2 %over the period of 2010–2014. One of the key factors contributing to this market growth is the implementation of lighter automotive design. The global automotive semiconductor market has also been witnessing growth of the platform concept in the automotive design. However, strict quality assurance standards could pose a challenge to the growth of this market.
Commenting on the report, an Embedded Systems analyst said, "The Global Automotive Semiconductor market is driven by advancements occurring in automotive technology. Advanced features such as mechatronics that is an integration of various areas of engineering such as mechanical, electronic, computer, software, control engineering, and systems designs seek to enhance the safety and control systems in the design of automobiles. As a result of these innovative technologies, many automobile functions are transformed from conventional mechanical systems to microcomputer control."
According to the report, the automotive semiconductor technology helps to reduce the weight of the automobiles. Lighter automotive design increases energy efficiency and reduces emissions from automobiles. Most experts agree for every 10 percent in weight reduction, there is a 7 percent improvement in fuel efficiency for vehicles powered by internal combustion engines. So this lighter automotive design is in turn increasing the market for automotive semiconductor.
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