Automotive IC Market: Opportunities, Industry Analysis & Forecast To 2025
The increasing vehicle system complexity and integration of several components into small modules are challenges hampering the automotive IC market. Due to the incorporation of complex systems designs, ICs face issues in communicating and networking with other components that will impact the overall system performance. These issues can be overcome by the manufacturers by developing application-specific and compatible circuits that can support high-end applications in EVs, automated vehicles, etc.
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The rapid adoption of electrification technologies in vehicle systems, such as drivetrain, engine management systems, etc., is creating a high demand for efficient ICs, further developing the automotive IC market. Additionally, the growing need for utilizing automobile electronic systems that support low-carbon emissions and consume less energy is an essential factor that contributes to the demand for advanced electronic components. These factors along with government initiatives and concerns related to controlling vehicular pollution and reducing road fatalities across the globe are further adding up to the market expansion prospects.
In the automotive IC market, analog circuit types are gaining high traction owing to the increasing implementation in EVs and HEVs. The rising production & sales of EVs across several countries, mainly China and the U.S. led to an increased sale of semiconductors. The market manufacturers have developed several application-specific circuits that support the vehicle system requirements such as entertainment, connectivity, and power management applications.
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The automotive IC market research report presents significant information on the methodology deployed to conceptualize the study in question, by means of various primary and secondary sources. The scope of the report and the elements contained in the same with respect to the growth spectrum of the automotive IC industry has been discussed in the study. Also mentioned in the document are details pertaining to the financial data of the companies profiled in the report, in addition to the currently prevalent price trends of the automotive IC industry.
The key players operating in the automotive IC market are Renesas Electronics Corporation, Robert Bosch GmbH, Infineon Technologies AG, NXP Semiconductors, STMicroelectronics, Microchip Technology, Inc., Texas Instruments, ON Semiconductor, Toshiba Electronic Devices & Storage Corporation, and Qualcomm Technologies, Inc. The prominent companies in the market focus on developing highly efficient semiconductors and circuits that support complex automobile systems.
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