The Latin America, Middle East and Africa Automotive Semiconductor Market would witness market growth of 8.6% CAGR during the forecast period (2021-2027).
Vehicles of the future with semi- or completely autonomous driving capability will integrate human-like sensing potential like vision. Semiconductor devices play a crucial role in sensing and processing the captured data using robust on-vehicle computing systems that would offer authentic, correct, and timely control systems for the car. Image cameras, radar, light detection, and ranging and ultrasonic sensors are instrumental to achieving these human-like sensing capabilities. Cars of the future will integrate two or more of these technologies.
With the rise in adoption and regulations for electric vehicles, the need for establishing charging infrastructure is constantly increasing to refill EV energy sources or batteries. Moreover, semiconductors are extremely beneficial in fast charging needed to rapidly charge EV batteries. Additionally, semiconductors in the form of solar cells or photovoltaics can become a source of energy.
In the region, Saudi Arabia is expected to witness maximum sales of automobile and auto parts. In addition, it is considered the crucial market for US automakers. In addition, it is the fifth-biggest export market for US passenger vehicles and light trucks. Also, SUVs and luxury cars are witnessing high popularity and acceptance in the country, thereby increasing the demand for automotive semiconductors across this region. Moreover, many leading automobile companies like Mercedes and BMW are prominent in the automotive industry of the country.
The shortage of semiconductors due to supply-chain gaps has hampered the production process in Turkey while there has been a surge in sales of different automobiles. However, the constant and gradual growth in automotive sales will increase the production of semiconductors in the forthcoming years. Also, the country is relied on local production centers to make parts for the defense industry. For example, the National Electronics and Cryptology Research Institute aims to manufacture parts at its Semiconductor Technologies Research Laboratory. Hence, these factors will collectively boost the growth & demand for automotive semiconductors during the forecasting period.
The Passenger Cars market dominated the South Africa Automotive Semiconductor Market by Vehicle Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $395.1 million by 2027. The Light Commercial Vehicles market is expected to witness a CAGR of 9.1% during (2021 - 2027).
Based on Application, the market is segmented into Body Electronics, Powertrain, Safety, Telematics & Infotainment, Chassis, and Others. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Component, the market is segmented into Discrete Power, Processor, Sensor, Memory, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Automotive Semiconductor Market is Predict to reach $60.5 Billion by 2027, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NXP Semiconductors N.V., Infineon Technologies AG, Robert Bosch GmbH, Texas Instruments, Inc., Toshiba Corporation, Analog Devices, Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Rohm Semiconductors Co., Ltd., and STMicroelectronics N.V.
By Application
By Vehicle Type
By Component
By Country
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