The automotive integrated circuits (ICs) market is expected to register a CAGR 6.8% during the forecast period 2023–2031. The rising adoption of connected cars is likely to remain a key trend in the market.
Automotive ICs enable manufacturers to assemble multiple applications on a single chip to enhance performance. High-quality automotive ICs are equipped in automobiles for the purpose of safe driving. The rise in demand for environmentally friendly vehicles such as hybrid electric, and electric is increasing, resulting in boost of the automotive ICs market.
Automotive ICs are adapted for special applications within a vehicle system. ICs play an important role in modern vehicle design and functionality. The expansion of the automotive industry has created market growth for automotive ICs. The market is segmented by types, application, and vehicle type. The increase in the adoption of technology innovation in automobiles has led to growth of market. Integrated circuits (ICs) are essential component in the vehicle control units. The integrated system ICs ensures actuator movements, handles information and provide safety related relevant actions for the automotive consumers.
Increasing automotive production across the globe and growing consumers preference towards the advanced featured cars drives the market growth. For instance, according to The International Organization of Motor Vehicle Manufacturers (OICA), the global automotive production reached to around 93.5 million units which was increased by 8.6% compared to 2022. Such, rising automotive production is the major driving factor for the market growth.
Rising electric vehicles sale across the globe with surge in government initiatives is expected to create ample opportunity for the market growth. According to the International Energy Agency (IEA), sales of electric cars have reached to around 14 million in 2023. The rise in demand for electric and autonomous vehicles with significant innovation in automotive industry is expected to create ample opportunity for the market growth. Integration with advanced technologies such as AI, IoT and machine learning enables the demand automotive Integrated Chips (ICs) product growth. For instance, in May, 2024, KPN IoT and Austria-based Freeeway IoT connectivity provider launched an integrated IoT monetization platform for the automotive market. This solution enables automotive OEMs and automotive part manufacturers to generate recurring revenue from the connected cars in Europe.
Key segments that contributed to the derivation of the automotive integrated circuits (ICs) market analysis are type, application, and vehicle type.
The regional trends and factors influencing the Automotive Integrated Circuits (ICs) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Integrated Circuits (ICs) Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 6.8% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Integrated Circuits (ICs) Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Integrated Circuits (ICs) Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive integrated circuits (ICs) market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Automotive Integrated Circuits (ICs) market are listed below:
The “Automotive Integrated Circuits (ICs) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies
1. Infineon Technologies AG
2. Intel Corporation
3. NXP Semiconductors
4. Qualcomm Technologies Inc
5. Renesas Electronics Corporation
6. Robert Bosch GmbH
7. ROHM Semiconductor
8. SAMSUNG
9. STMicroelectronics
10. Texas Instruments Inc
Some of the customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
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The leading players operating in the Automotive Integrated Circuits (ICs) market include Intel Corporation, Samsung Electronics Ltd., Robert Bosch GmbH, Qualcomm, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics, ROHM CO. LTD., Texas Instruments, and NXP Semiconductors.
The rising adoption of connected cars is likely to remain a key trend in the market.
The global automotive integrated circuits (ICs) market is expected to grow at a CAGR of 6.8% during the forecast period 2023 - 2031.
Increase in Automobile Production and Rise in Demand for Connected Cars Drives the Market Growth.