Sunday, August, 25, 2019 03:24:02

Automotive IC Market Size to Show Considerable Growth Over the Coming Year

Automotive IC Market report gives attention to market segmentation, market size, and forecast of 2019-2025 to help stakeholders in making a good decision for the future investments. The industry report segmented into types, application, and regions with providing production, revenue, import/export.

ADAS applications are experiencing high growth opportunities in the automotive IC market owing to increasing safety features in the newly developed vehicles. These systems consist of various solutions, such as braking systems, parking assistance, and airbags, which include several sensors, semiconductors, and circuits. The increasing implementation of such systems in passenger & commercial vehicles is contributing to the demand for electronic components and further providing growth opportunities to the automotive IC industry growth.

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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.

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.

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.

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The Asia Pacific automotive IC market is growing rapidly in recent years owing to the high production of passenger and commercial vehicles in countries including China and Japan. The presence of several automobile OEMs & system manufacturers in the region also contributes to industry development. The easy & cheap availability of electronic components and raw materials in the Asian countries is adding up to the increasing manufacturing activities in the market. Additionally, Europe is also gaining traction due to the presence of several leading OEMs and luxury car manufacturers in the region. The increasing export activities of automobile companies to other regions are gaining momentum due to the requirement of electronic solutions, further increasing the automotive IC industry demand.

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.

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