Automotive Ic Market Size to grow by USD 23.3 billion between 2024-2028
According to a research report “ Automotive Ic Market” by Type (Discrete, Logic, Micro components, Analog, Others) Vehicle Type (Passenger cars, Commercial vehicles) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 23.3 billion, at a CAGR of 10.82% during the forecast period. The automotive IC market is experiencing significant growth due to the decreasing cost of integrated circuits (ICs) and the escalating demand for electronic components in vehicles. Factors driving this expansion include the increasing adoption of powertrain systems requiring sensors, microcontrollers, and analog converters. The electrification of drivetrains, advancements in vehicle intelligence such as active safety innovations and connectivity-enhanced driving, and the consumerization of automotive electronics are primary catalysts fueling the growth of the automotive semiconductor market. The drivetrain segment, which includes hybrid and electric vehicles, is projected to account for approximately 30% of the total IC usage in the automotive industry..
Browse market data tables, figures, and in-depth TOC on “Automotive Ic Market” by Type (Discrete, Logic, Micro components, Analog, Others) Vehicle Type (Passenger cars, Commercial vehicles) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Type, the Discrete segment is projected to dominate the market size in 2024
The Automotive IC market represents a significant segment within the semiconductor industry, with continuous growth driven by the increasing demand for advanced driver assistance systems, electric vehicles, and connectivity solutions. Manufacturers are focusing on innovation and efficiency to meet stringent regulatory requirements and consumer expectations, resulting in a competitive landscape. Key players include Infineon Technologies AG, Texas Instruments Incorporated, and NXP Semiconductors N.V.
By Vehicle Type, Passenger cars segment is expected to hold the largest market size for the year 2024
The Automotive IC market represents a significant segment within the semiconductor industry, with growing demand driven by the increasing adoption of advanced driver assistance systems (ADAS), electric vehicles (EVs), and connectivity solutions. Manufacturers are investing heavily in research and development to produce more efficient, powerful, and cost-effective IC solutions to cater to these trends. The market is expected to experience robust growth in the coming years due to these technological advancements and the rising demand for sustainable and connected mobility solutions.
APAC is forecasted to hold the largest market size by region in 2024
The Automotive IC market represents a significant segment within the semiconductor industry, driven by the increasing demand for advanced driver assistance systems (ADAS), electric vehicles (EVs), and connectivity solutions. Manufacturers are investing heavily in research and development to produce more efficient, reliable, and cost-effective IC solutions to meet evolving consumer expectations and regulatory requirements. The market is expected to grow steadily due to these factors and the continuous integration of technology into vehicles.
The Automotive Ic Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive IC market is experiencing significant growth driven by the increasing demand for advanced driver-assistance systems (ADAS), electric vehicles (EVs), and automobile automation. This market is witnessing knowledge transfer from the consumer electronics industry, ensuring supply stability and maintaining high-quality standards for brand identity. Foundries and IDMs are at the forefront of this technological advancement, deploying semiconductor elements to meet the stringent safety requirements and regulatory scrutiny. Geopolitical scenarios and market consolidation are shaping the landscape of the Automotive IC industry. The market is witnessing the deployment of electronic elements for lane departure warnings, parking assist, ADAS systems, navigation, infotainment applications, and more. Design in timeframes are becoming increasingly important, with a focus on functionally safe design and zerodefect quality. Memory devices and sensors are essential components of this market, with a growing emphasis on stringent qualification processes to meet safety requirements. The production trends indicate a shift towards the use of ICs for electric vehicles, further fueling the growth of the market. With regulatory scrutiny and technological advancements, the Automotive IC market is poised for continued growth and innovation.
Market Research Overview
The Automotive IC market is experiencing significant growth due to the increasing demand for connected cars and the Internet of Things (IoT) in the automotive industry. This market encompasses various types of Integrated Circuits (ICs), including Mixed Signal ICs, Analog ICs, and Digital ICs, used in various vehicle systems such as powertrain systems, transmission control systems, engine management systems, and driver assistance systems. Connected cars require advanced ICs for in-vehicle networking, communications, and infotainment systems. The use of monolithic integrated circuits, such as Microcontrollers and SoCs, is becoming increasingly common in vehicle control applications. The decline in prices and the complexity of these ICs are driving the rapid electrification of the automotive industry. Automotive electronics are becoming more sophisticated, with the integration of advanced safety systems, such as lane departure warnings, parking assist, and ADAS systems. The development of self-driving vehicles and autonomous vehicles is also leading to an increase in demand for high-performance ICs. Semiconductor manufacturers are collaborating with automotive OEMs to transfer knowledge and ensure supply stability and high reliability. The market is witnessing consolidation, with companies like Intel entering the automotive IC market through acquisitions and partnerships. The production of premium cars and the launch of new vehicle models are also driving the growth of the automotive IC market. The market is subject to geopolitical scenarios and technological advancements, with legislative requirements for safety systems and stringent qualification processes for ICs. The automotive IC market is expected to continue growing, with a focus on zerodefect quality and functionally safe design. The market for memory devices, sensors, and other electronic elements in automobile automation is also expected to grow, driven by the increasing demand for electric vehicles and the development of digital services and in-vehicle screens.
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