Automotive IC Market 2021-2025: APAC to Dominate Market Growth
The automotive IC market share is expected to grow by USD 10.70 billion, decelerating at a CAGR of 7% during the forecast period. Rapid electrification of automobiles is one of the major drivers that facilitates market growth. However, the complexity of automotive IC design may impede market growth. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Automotive IC Market: Segments and Leading Regions
The automotive IC market report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The automotive IC market is segmented by Type (Passenger cars and Commercial vehicles), Application (Discrete, Logic, Micro components, Analog, and Others), and Geography (APAC, Europe, North America, South America, and MEA).
- Based on the segmentation by type, the automotive IC market share growth by the passenger cars segment will be significant during the forecast period.
- 60% of the market growth will originate from APAC during the forecast period. Factors such as the potential market and economic growth of emerging countries in APAC will increase the automotive IC market growth. China, Japan, and India are the key countries for the automotive IC market in APAC.
- The report provides an accurate prediction of the contribution of all the geographic segments to the growth of the automotive IC market size.
Automotive IC Market: Trends, Drivers, Challenges
- Rapid electrification of automobiles will be a significant factor in driving the growth of the Automotive IC Market.
- The emergence of IoT is one of the major automotive IC market trends that will be instrumental in driving market growth during the forecast period.
- Complexity in automotive IC design is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.
Automotive IC Market: Vendor Analysis
- The market is fragmented due to the presence of several players.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Infineon Technologies AG, Intel Corp., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., STMicroelectronics NV, Texas Instruments Inc., and Toshiba Corp. are some of the major automotive IC market vendors.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is decelerating at a CAGR of 7%.
- What is the incremental growth of the market?
The market is expected to grow by USD 10.70 billion.
- What is a key factor driving this market?
Rapid electrification of automobiles will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
60% growth will originate from APAC.
- Who are the leading market vendors?
The leading vendors in this market are Infineon Technologies AG, Intel Corp., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., STMicroelectronics NV, Texas Instruments Inc., and Toshiba Corp.
- What are the market segments covered in this report?
The market is segmented by Type (Passenger cars and Commercial vehicles), Application (Discrete, Logic, Micro components, Analog, and Others), and Geography (APAC, Europe, North America, South America, and MEA).