Automotive ICs Market Size and Share
- The global automotive IC market size reached US$ 54.2 Billion in 2023.
- The market is expected to reach US$ 120.3 Billion by 2032, exhibiting a growth rate (CAGR) of 9% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest automotive IC market share.
- Hybrid integrated circuits (analog IC, digital IC, and mixed IC) accounts for the majority of the market share in the type of segment due to their adaptability and capacity to manage multiple tasks on a single chip, improving efficiency and lowering system complexity.
- Engine management represents the leading application segment.
- The increasing focus on autonomous vehicles (AVs), as these vehicles require sophisticated integrated circuits for processing large amounts of data from various sensors and ensuring safe navigation, is impelling the market demand.
- The rising consumer demand for in-vehicle entertainment and enhanced user experience, as automakers integrate advanced infotainment systems that rely on powerful ICs to deliver seamless connectivity and multimedia features, is supporting the market growth.
Industry Trends and Drivers:
- The rising adoption of advanced driver-assistance systems (ADAS):
One of the primary drivers of the automotive IC market is the rising adoption of advanced driver-assistance systems (ADAS). As automotive manufacturers focus on enhancing vehicle safety and performance, ADAS technologies have become increasingly essential. These systems rely heavily on various sensors and integrated circuits to process data from multiple sources, including cameras, radar, and lidar. Automotive ICs facilitate critical functions such as collision avoidance, lane-keeping assistance, adaptive cruise control, and parking assistance. The growing consumer demand for enhanced safety features, along with regulatory pressures for improved vehicle safety standards, is aiding the market growth.
- The increasing electrification of vehicles:
The shift toward electric vehicles (EVs) and hybrid electric vehicles (HEVs) has created a surge in demand for power management ICs, battery management systems, and other specialized integrated circuits designed to support electric drivetrains. As automakers strive to meet stringent emissions regulations and consumer demand for environmentally friendly options, they are developing more electric models, necessitating sophisticated ICs for energy efficiency and battery performance optimization. Additionally, advancements in semiconductor technology have enabled the production of smaller, more efficient automotive ICs, making them crucial components in modern EVs and hybrid vehicles. This trend toward electrification is significantly reshaping the automotive IC landscape, thus bolstering the market demand.
- Growing trend toward connectivity and smart vehicle technologies:
The growing trend toward connectivity and smart vehicle technologies is also a critical driver of the automotive IC market. With the rise of the Internet of Things (IoT) and smart mobility solutions, vehicles are increasingly being equipped with connectivity features that enhance user experience and functionality. Automotive ICs are essential for enabling features such as infotainment systems, vehicle-to-everything (V2X) communication, and telematics. As consumers demand seamless connectivity, automakers are integrating more advanced communication technologies into their vehicles, including fifth-generation (5G) and Wi-Fi capabilities. This increasing focus on connected vehicles requires a wide range of ICs to support data processing, communication, and user interface functions, further contributing to the market expansion.
Request for a sample copy of this report: https://www.imarcgroup.com/automotive-ic-market/requestsample
Automotive IC Market Report Segmentation:
Breakup By Type:
- Monolithic Integrated Circuits
- Hybrid Integrated Circuits
Hybrid integrated circuits (analog IC, digital IC, and mixed IC) account for the majority of shares due to their versatility and ability to handle various functions within a single chip, enhancing performance and reducing system complexity.
Breakup By Application:
- Advanced Driver Assistance System (ADAS)
- In-Vehicle Networking
- Engine Management
- Transmission Control System
- Others
Engine management dominates the market because it relies heavily on integrated circuits for optimizing engine performance, fuel efficiency, and emissions control, which are critical for modern vehicles.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific holds the leading position due to its robust automotive manufacturing sector, rapid adoption of electric vehicles, and significant investments in automotive technology and innovation.
Top Automotive IC Market Leaders:
The automotive IC market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- 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
Browse full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=6759&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
