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MARKET OUTLOOK

Triton Market Research’s report denotes that the automotive semiconductor market in Europe is expected to grow at a compound annual growth rate of 6.10% during 2021-2028. Italy, Germany, Russia, Spain, the United Kingdom, France, and Rest of Europe form the market in this region.

Several connected vehicles start-ups are bringing innovation in semiconductors used in the automotive sector across France. For instance, Wilov is a usage-based insurance provider involved in offering badges to track miles. Other than this, LDL Technology offers wireless embedded electronic systems for the automotive sector. Here, core technologies include tire pressure monitoring systems, vehicle immobilization, keyless entry and start system, and others. These features are estimated to drive the demand for automotive semiconductors, thereby supplementing the development of the automotive semiconductor market. 

In Italy, automotive is a significant industry with a robust automotive supply chain. Moreover, the country ranks at sixth position in terms of vehicle production. Additionally, several services can be developed in connected cars, owing to the continual advancements in technology. This has resulted in the rise in start-ups and innovative initiatives across the country. Furthermore, despite the delay in automotive products due to chip shortage, the country averted Chinese company Shenzhen Investment Holdings from purchasing a stake in a Milan-based firm developing semiconductor equipment to guard strategic assets from overseas takeovers. Thus, these factors are likely to fuel the growth of the automotive semiconductor market within Italy. 

COMPETITIVE OUTLOOK 

The leading enterprises in the automotive semiconductor market comprise Toshiba Corporation, ON Semiconductor Corporation, Infineon Technologies AG, Renesas Electronics Corporation, STMicroelectronics NV, Analog Devices Inc, and Texas Instruments Incorporated.