The global light vehicle ACC digital signal processor market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). Light vehicle ACC digital signal processors are the chips or microprocessors fitted in the integrated electronic control units (ECUs) of light vehicles, including passenger cars and light commercial vehicles to receive and process digital signals from sensors, throttle pedals, and many others in light vehicles. The major factor attributing to the growth of the global light vehicle ACC digital signal processor market includes the increasing application of ACC digital signal processors in receiving signals from sensors and radars of advanced driver assistant systems (ADAS) and collision detection systems of light vehicles due to increasing cases of road traffic accidents across the globe. According to the report published by the World Health Organization (WHO) in June 2021, the rate of mortality due to road traffic accidents is very high with the mortality of around 1.3 million people globally every year. It is estimated that road traffic accidents can cost most countries up to 3% of their gross domestic product. The report also described that around 20 million to 50 million people also suffer from non-fatal injuries as a result of road traffic accidents. Thus, increasing the demand for ACC digital signal processors.
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The use of ACC digital signal processors is also increasing in vehicles for receiving and processing digital signals from the accelerator pedal and applying them to the engine to work accordingly due to the increasing production of motor vehicles across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles, including light commercial vehicles and heavy commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021. Thus, contributing to the growth of the market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Alphawave, a Canada-based semiconductor licensing company acquired the OpenFive business unit of SiFive for $210 million in order to expand its connectivity, and System of Chips (SoC) portfolio.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Robert Bosch GmbH, Denso Corp., Continental AG, BrogWarner Inc., Autoliv Inc., and VALEO, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Light Vehicle ACC Digital Signal Processor Market Report by Segment
By Application
- Passenger Cars
- Commercial Vehicles
By Sales Channel
- OEM
- After Market
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