Automotive IC Market:
Growth opportunities in the automotive IC market look promising over the next six years. This is mainly due to the rising need for the electronics in vehicles to enhance its features, various technological advancements, accelerating production of vehicles, and growing implementation of IC in in-vehicle networking.
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Automotive IC Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating demand for electric vehicles, growing requirement for electronics in vehicles to improve its features, and the expanding production of vehicles are the factors contributing to the growth of the global automotive integrated circuits (ICs) market. The ongoing technological developments like the implementation of IoT and government norms to produce low emission, autonomous, and connected vehicles, is anticipated to encourage the automated IC market share over the forecast period. Also, factors like expanding usage of IC in in-vehicle networking, growing concerns towards the security & safety of passengers in automobiles, and improved driver assistance systems are fuelling the demand of automotive integrated circuit worldwide. The focus of various players to form a union and launch new products and the decreasing prices of IC will further boost the market growth. However, the factor responsible for restraining the growth of the global automotive integrated circuit market is complexity in the IC designing.
Type Segment Drivers
On the basis of type, the Hybrid or Multichip Integrated Circuit is predicted to grow at a faster CAGR over the forecast period due to the surging use of these types of integrated circuit in the automotive industry. Also, several benefits of the hybrid or multichip integrated circuit including better performance, low cost compared to the monolithic chip, and improved flexibility, will attract many consumers to choose this type of integrated circuit.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market during the forecast period because of the rising adoption of automotive integrated circuit and the accelerating demand for electronics in automotive. Moreover, the concerns related to the safety of the passengers and favorable government initiatives concerning the vehicle standards are some other factors propelling the growth of the global automotive integrated circuit market.
Automotive IC Market’s leading Manufacturers:
NXP Semiconductors N.V
Texas Instruments
STMicroelectronics N.V
Renesas Electronics Corporation
Intel Corporation
ROHM Co. Ltd.
Infineon Technologies AG
Qualcomm
Robert Bosch
Samsung
Automotive IC Market Segmentation:
Segmentation by Type:
Monolithic Integrated Circuits
Hybrid or Multichip Integrated Circuit
Analog IC
Digital IC
Mixed IC
Segment by Application:
In-Vehicle Networking
Advanced Driver Assistance System (ADAS)
Transmission Control System
Engine Management
Others
Segmentation by Region:
North America
United States of America
Canada
Asia Pacific
China
Japan
India
Rest of APAC
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)
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