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Why the Future of Mobility Depends on Smarter, Smaller Semiconductors
- Semiconductors play a critical role in the advancement of electric vehicles (EVs) by enabling advanced features, efficient battery management, and safety measures.
- The EV revolution is actively unfolding, with semiconductors serving as a vital component driving various functions in EVs.
- The global EV semiconductor market is projected to grow significantly, reaching nearly $57.1 billion by 2029 with a CAGR of over 31%.
- Factors fueling the growth include environmental regulations, government incentives, advancing EV infrastructure, and automotive electronics technology.
- Semiconductor devices are essential for powering motor control units, battery management units, infotainment systems, and driver-assistance systems in EVs.
- Wide-bandgap semiconductors like Silicon Carbide (SiC) and Gallium Nitride (GaN) are key technologies driving growth due to their high efficiency and suitability for EV applications.
- Semiconductors are integral to EV functions such as battery management, charging systems, advanced driver assistance systems (ADAS), and infotainment systems.
- Asia-Pacific, particularly South Korea, Japan, and China, leads in the EV semiconductor market, with India emerging as a significant player with initiatives like 'Make in India' and the FAME II scheme.
- Geopolitical tensions and the semiconductor supply chain crisis pose challenges, impacting market stability and production timelines for companies in the semiconductor industry.
- Despite challenges, the EV semiconductor market continues to grow rapidly, driven by increased EV adoption globally, technological advancements, and government support.
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