Global Automotive IC Market to Reach US$ 90.4 Billion by 2028, Stimulated by Increasing Adoption of Electric Vehicles

June 15, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Automotive IC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global automotive IC market size reached US$ 49.1 Billion in 2022. 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$ 90.4 Billion by 2028, expanding at a CAGR of 10.3% during 2023-2028.

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	2022
Historical Period	2017-2022
Forecast Period	2023-2028
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.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Automotive IC Market to Reach US$ 90.4 Billion by 2028, Stimulated by Increasing Adoption of Electric Vehicles

Purchase options Year End sale

Single User License ~~$2499~~ $2249
Five User License ~~$3499~~ $2974
Corporate License ~~$4499~~ $3599

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.