Global Automotive IC Market to Reach US$ 120.3 Billion by 2032, Stimulated by Increasing Adoption of Electric Vehicles

June 15, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Automotive IC Market Report by Type (Monolithic Integrated Circuits, Hybrid Integrated Circuits), Application (Advanced Driver Assistance System (ADAS), In-Vehicle Networking, Engine Management, Transmission Control System, and Others), and Region 2024-2032,” the global automotive IC market size reached US$ 54.2 Billion in 2023. An automotive IC refers to a specialized electronic component designed and utilized specifically for automotive applications. It is engineered to withstand the demanding conditions of the automotive environment, including extreme temperatures, vibrations, and electromagnetic interference. It enables precise control of fuel injection, ignition timing, transmission shifting, and braking. Additionally, it facilitates communication between various components within a vehicle, ensuring seamless interaction between different systems. It also enables efficient data processing, sensor integration, and actuator control, enhancing the overall performance and functionality of modern vehicles. As a result, it is used in various automotive systems, such as engine management, powertrain control, safety systems, infotainment, and advanced driver assistance systems (ADAS).

Global Automotive IC Market Trends:

The rising demand for electric vehicles (EVs) is driving the global market. Moreover, the widespread integration of connectivity features in automobiles, such as wireless communication, vehicle-to-vehicle (V2V), and vehicle-to-infrastructure (V2I) communication, is fuelling the market as these ICs enable secure data transfer, real-time monitoring, and enhanced user experiences. Besides, with the introduction of more stringent safety regulations and standards globally, there has been a growing need for ICs that enable advanced safety features, such as collision avoidance systems, pedestrian detection, and advanced airbag control. Furthermore, continual development of advanced features, such as infotainment systems, touchscreen interfaces, voice recognition, and smart connectivity, are supporting the growth of the market. Apart from this, the growing focus on cybersecurity is catalyzing the demand for automotive ICs as they offer secure communication and data protection. Other factors, including rapid industrialization, the rising funding for the development of roads and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. Looking forward, the market value is projected to reach US$ 120.3 Billion by 2032, expanding at a CAGR of 9% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented as monolithic integrated circuits and hybrid integrated circuits (analog IC, digital IC, and mixed IC).  Currently, hybrid integrated circuits (analog IC, digital IC, and mixed IC) dominates the market, holding the largest share.
  • On the basis of the application, the market has been categorized into advanced driver assistance system (ADAS), in-vehicle networking, engine management, transmission control system, and others. At present, engine management accounts for the largest market share.
  • Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Infineon Technologies AG, NXP Semiconductors N.V, Qualcomm Incorporated, Robert Bosch GmbH (Robert Bosch Stiftung GmbH), Rohm Co. Ltd., STMicroelectronics N.V., and Texas Instruments Incorporated.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Type Covered
  • Monolithic Integrated Circuits
  • Hybrid Integrated Circuits: Analog IC, Digital IC, Mixed IC 
Application Covered Advanced Driver Assistance System (ADAS), In-Vehicle Networking, Engine Management, Transmission Control System, Others
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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, etc.
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Global Automotive IC Market to Reach US$ 120.3 Billion by 2032, Stimulated by Increasing Adoption of Electric Vehicles
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