Overall Automotive Integrated Circuit business scenario presented through self-explanatory charts, tables, and graphics images add greater value to the study.
NEW YORK CITY, NEW YORK, UNITED STATES, March 26, 2020 /EINPresswire.com/ — Automotive system integrated circuits (ICs) for deployed for use in engine management, alternator electronics, System Basis Chips (SBCs), and transmission control systems, among others. The integrated circuits are designed to meet the highest industry standards, while concurrently improving the performance considerably. Integrated circuits for automotive are used in automotive security systems, hybrid and electric vehicles, body electronics, powertrain systems, chassis, safety, and advanced driver assistance system (ADAS).
The demand for automotive ICs is fuelled by escalating the electrification of automotive. Besides, the growing implementation of the technology in vehicles connectivity solutions is likely to boost the growth of the market in the upcoming years. The increasing demand for automotive integrated circuits will eventually result in lowering down of the prices of ICs, thereby fueling the growth of the market. Additionally, the advent of IoT in the automotive sector further supports the growth of the market.
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The mandatory governmental regulations and increasing consumer demand for the electronics system to enhance vehicular, in turn, is estimated to influence the growth of the market. However, the complexity in the design of the automotive integrated circuits may create hindrances in the growth of the market in the upcoming years.
The leading players in the market are emphasizing on several strategic alliances and launch of new products to provide customers with innovative products and increase their profitability along with increase their geographical expense.
In August 2019, Dialog Semiconductor PLC, a semiconductor company, introduced a mixed-signal IC, labeled the SLG46620-A, that can be configured to deploy a number of functionalities for in-vehicle infotainment, navigation, automotive display clusters, advanced driver assistance systems, and body electronics.
By IC type, hybrid ICs are projected to grow at the fastest rate in the forecast period.
By vehicle type, passenger vehicle contributed to a larger market share in 2018 and is also expected to witness a faster growth rate in the period 2019-2027. According to a report, there were more than 1.70 million automotive manufactured in the U.K. in the year 2017, and 78,000 of which were commercial purpose vehicles, and the remaining were passenger vehicles. Thus, evidently, the market is driven by the growing demand for comfort and convenience in passenger vehicles.
North America dominated the market in 2018, whereas the market in the APAC region is estimated to witness the fastest growth rate in the forecast period.
Key players in the engaged in the market are Infineon Technologies AG, Microchip Technology Inc., Toshiba Electronics, Rohm Semiconductor, STMicroelectronics, ON Semiconductor, Atmel Corporation, Texas Instruments, NXP Semiconductors N.V., and Renesas Electronics Corporation.
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Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Reports and Data have segmented the global automotive integrated circuit (IC) market on the basis of IC type, vehicle type, application, and region:
IC Type Outlook (Revenue, USD Million; 2016-2027)
• Monolithic IC
• Hybrid IC
Vehicle Type Outlook (Revenue, USD Million; 2016-2027)
• Passenger Vehicle
• Commercial Vehicle
Application Outlook (Revenue, USD Million; 2016-2027)
• Advanced Driver Assistance System
• In-Vehicle Networking
• Engine Management
• Transmission Control System
Regional Outlook (Revenue, USD Million; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire