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Automotive IC Market Size, Share, Growth & Industry Forecast Report, 2020-2027

04-12-2021 02:47 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

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.

Request for a FREE Sample Report on Automotive IC Market - https://www.gmiresearch.com/report/automotive-integrated-circuit-ics-market/sample-request

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.

To Know More About Global Automotive IC Market - https://www.gmiresearch.com/report/automotive-integrated-circuit-ics-market/

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
o Analog IC
o Digital IC
o Mixed IC

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

Segmentation by Region:

• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Media Contact

Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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