The market for adhesive tapes is expected to grow at a CAGR of 6.2% throughout the forecast period of 2022 to 2030 with the global market revenue that is expected to crossover US$ 80 billion by 2030. there is a growing need for lighter automobiles, which is another factor contributing to the expansion of the market for adhesives.
The automotive gyroscope industry is expected to grow 8% from 2022 to 2030. Gyroscopes are orientation sensors found in a range of electronics. As technology has improved, gyroscopes have come a long way since their origin. They've become one of the most important parts of navigation systems as a result.
The global automotive MEMS sensor market is poised for significant expansion, projected to grow from US $3.1 billion in 2024 to an impressive US $10.8 billion by 2033, marking a Compound Annual Growth Rate (CAGR) of 14.85%. This growth is underpinned by the escalating demand for advanced safety features, autonomous vehicles, and electric vehicles, which require precise, reliable MEMS sensors to measure acceleration, pressure, temperature, and magnetic fields.
The automotive semiconductor advanced packaging market is estimated to expand 12% from 2022 to 2030. Advances in packaging technology allow ICs to be connected to boards. It includes fan-out-wafer-level packaging, system-in-package, and 2.5D packaging, among others.The contemporary integrated circuit (IC) packaging sector in the automotive market has seen substantial growth as a direct result of the growing demand for higher levels of automation and performance in automobiles.
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.