Automotive IC Market Demand, Growth Drivers, Size and Outlook 2023-2028

Automotive Industry Business

IMARC Group has recently released a new research study titled “Automotive IC Market by Type (Monolithic Integrated Circuits, Hybrid Integrated Circuits), Application (Advanced Driver Assistance System (ADAS), In-Vehicle Networking, Engine Management, Transmission Control System, and Others), and Region 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the automotive IC market?

The global automotive IC market size reached US$ 49.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 90.4 Billion by 2028, exhibiting a growth rate (CAGR) of 10.3% during 2023-2028.

What is an automotive IC?

Automotive integrated circuits (ICs) refer to specialized electronic components designed to control, manage, and operate various functions within vehicles. They are available in different forms, such as microcontrollers, power management ICs, communication ICs, and sensor ICs, among others. Automotive ICs are manufactured using semiconductor materials like silicon, employing techniques like lithography to lay out intricate circuit patterns. They are comprised of several components, including transistors, capacitors, resistors, and diodes. Automotive ICs are used in a wide range of automotive systems, including engine control units (ECUs), airbag systems, infotainment, navigation, power steering, braking systems, fuel injection, lighting control, electric windows, and advanced driver-assistance systems (ADAS). They aid in enhancing performance, reducing size, providing greater reliability, lowering power consumption, and improving overall cost-effectiveness. In addition, automotive ICs offer a range of advantages, such as streamlined design, simpler troubleshooting, easier updates, increased safety, and the seamless integration of advanced features.

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Automotive IC Market Trends and Growth Drivers: 

The surge in vehicle electrification and the rising adoption of electric vehicles (EVs) are facilitating the demand for ICs to manage complex electrical and electronic systems. Additionally, the shifting trend towards autonomous vehicles, which is pushing the need for advanced sensor ICs and microcontrollers to enable features like lane departure warning, adaptive cruise control, and parking assistance, is catalyzing the market growth. Furthermore, the recent development of connected cars that are equipped with Internet of Things (IoT) devices, which require the use of communication ICs, is boosting the market growth. Besides this, the imposition of stringent emission norms and safety regulations that are compelling automakers to integrate efficient and sophisticated ICs is supporting the market growth.

Moreover, innovations in IC technology, such as the application of artificial intelligence (AI) and machine learning (ML) in automotive systems, are bolstering the market growth. In addition, the rising consumer expectations for features like advanced infotainment systems and telematics are acting as another growth-inducing factor.

Some of the Top Key Players Operating in the Market are Given Below:

Automotive IC Manufacturers: 

  • Infineon Technologies AG
  • NXP Semiconductors N.V
  • Qualcomm Incorporated
  • Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
  • ROHM Co., Ltd.
  • STMicroelectronics N.V.
  • Texas Instruments Incorporated

Market Segmentation:

The report has segmented the global automotive IC market on the basis of type, application and region.

Type Insights:

  • Monolithic Integrated Circuits
  • Hybrid Integrated CircuitsAnalog IC Digital ICMixed IC

Application Insights:

  • Advanced Driver Assistance System (ADAS)
  • In-Vehicle Networking
  • Engine Management
  • Transmission Control System
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

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Key Highlights of the Report:  

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Industry Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

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