PORTLAND, ORAGON, UNITED STATES, September 1, 2022 /EINPresswire.com/ — The Global Automotive Integrated Circuit (ICs) Market was valued at $43,240 million in 2017, and is projected to reach at $89,140 million by 2025, growing at a CAGR of 9.3% from 2018 to 2025. Automotive ICs are customized for specific applications within the vehicle system. As semiconductor technology has evolved, it enabled vehicle manufacturers to assemble multiple applications on a single chip to optimize performance. Automotive electronics are used in safety systems, driver assistance, powertrain control, communications, and infotainment systems. They play an important role in not only differentiating vehicles but also enhancing the overall capabilities and performance of the vehicle.
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Germany is recognized as Europes economic powerhouse. Around 40% of the worlds premium car production takes place in Germany, with around 70% of worldwide premium cars manufactured by German OEMs. According to the Federal Statistical Office, Germany, the automotive microelectronics is expected to rise from 5.9% per year, making it the strongest country in the automotive industry.
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Major players operating in the automotive IC market are Intel, Samsung, Robert Bosch, Qualcomm, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics N.V., ROHM CO. LTD., Texas Instruments, and NXP Semiconductors N.V.
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The automotive IC market is segmented based on type, application, and region. The monolithic integrated circuits and hybrid or multichip integrated circuits are studied under the type segment. The multichip ICs are subdivided into digital ICs, analog ICs, and mixed signal ICs. Based on application, the market is categorized into ADAS, in-vehicle networking, engine management system, transmission control system, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Rapid electrification of vehicles, emergence of IoT in ICs, and design complexities of ICs are the significant factors that affect the growth of the global automotive IC market. These factors are anticipated to either drive or hamper the market growth.
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