The automotive 3D imaging and sensing market is expected to grow at a CAGR of 18% during the forecast period of 2022 to 2030. ADAS in cars are the foundation of the global development in automotive automation. CMOS image sensor developments make 3D imaging and sensing a key part of vehicle automation. The automotive sector, formerly deemed unlikely to benefit from 3D sensing technology, now features ADAS and autonomous vehicles powered by 5G and the Internet of Things.
The automotive RF acoustic wave filters market is anticipated to expand at a compound annual growth rate of 9.2% during the forecast period of 2022 to 2030. Filters are electronic components that enable signals to pass through them within a particular bandwidth (low pass, high pass, or band pass), while at the same time blocking signals that lie outside of that bandwidth.
The automotive CMOS image sensor market is anticipated to grow at a CAGR of 12.5%during the forecast period of 2022 to 2030. Because of the increasing need for advanced driver-assistance systems (ADAS), the global market for automotive CMOS image sensors is expanding at a significant rate. Because of the high-performance safety function, it deploys in automotive systems, the widespread adoption of futuristic driverless autonomous vehicles around the world is propelling the usage of car camera sensor systems in a significant way.
The automotive photonics and lighting market is expected to grow at a CAGR of 10% during the forecast period of 2022 to 2030. The vehicle's lighting system has been upgraded to include integration with other components. As lighting has become more horizontal, formerly non-illuminated components, such as the grille or the logo, have become visible.
The automotive Lithium-ion battery market is expected to witness a CAGR of 17% during the forecast period of 2024 to 2032, propelled by the increasing adoption of electric vehicles (EVs) and the growing emphasis on sustainable transportation solutions. Due to their high energy density, longer lifespan, and quick charging capabilities, Li-Ion batteries have become the preferred option for automotive applications.
Automotive semiconductor market is expected to grow at a CAGR of 12% during the forecast period of 2022 to 2030. Despite a global shortage of automotive semiconductors, market revenues are expected to top $115 billion by 2030, up from $36 billion in 2020. The introduction of advanced driver assistance systems (ADAS), telematics, and infotainment, as well as a growing predisposition to buy electric vehicles, contribute to the growth of the global automotive semiconductor industry.
The global market for automotive power semiconductors is expected to grow 5.5% during the forecast period of 2022 to 2030. Power semiconductors operate as rectifiers or switches in power electronics modules. Rectifiers convert alternating current to direct current by passing a high-voltage pulse across a one-way circuit.
Automotive power modules are expected to register a CAGR of more than 15% during the forecast period of 2024 to 2032. As a result of the rising demand for automobiles around the world, the market for automotive power modules is likely to experience rapid expansion in the near future.
It is anticipated that the market for automotive GaN on silicon technology will continue to expand at a CAGR of 21.2% during the forecast period of 2022-2030. It is predicted that the market for GaN-on-silicon technology would expand throughout the forecast period due to the presence of driving factors such as reduced on-resistance, higher thermal conductivity, greater switching speed, and higher breakdown strength.
The global market for automotive Silicon Carbide Market is expected to grow at a CAGR of 12.5 % during the forecast period of 2022 to 2030.In the midst of COVID-19, there is a significant need for silicon carbide for efficient industrial operations. This demand is caused by the growing use of SiC devices in automotive and power device applications as well as the increasing demand for hybrid and electric cars.
