Automotive Integrated Circuits (ICs) Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

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 Integrated Circuits (ICs) Market Analysis

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 Integrated Circuits (ICs) Market Overview

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.

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Automotive Integrated Circuits (ICs) Market: Strategic Insights

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Automotive Integrated Circuits (ICs) Market Drivers and Opportunities

Increase in Automobile Production and Rise in Demand for Connected Cars Drives the Market Growth

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.

Increasing Electric Vehicles Sale and Growing Demand for the Autonomous Cars in Developed Countries is Expected to Create Ample Opportunity 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.

Automotive Integrated Circuits (ICs) Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive integrated circuits (ICs) market analysis are type, application, and vehicle type.

• Based on type, the market is divided into Monolithic Integrated Circuits, and Hybrid or Multichip Integrated Circuit.  
• Depending upon the application, the market is segmented into Advanced Driver Assistance System (ADAS), In-Vehicle Networking, Engine Management, Transmission Control System, Others)
• Based on vehicle type, the global market is divided into passenger cars, and commercial vehicles.

Automotive Integrated Circuits (ICs) Market Share Analysis by Geography

• The Automotive Integrated Circuits (ICs) market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Automotive Integrated Circuits (ICs) market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Automotive Integrated Circuits (ICs) market in these regions.

Automotive Integrated Circuits (ICs) Market Regional Insights

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.

Automotive Integrated Circuits (ICs) Market Report Scope

Automotive Integrated Circuits (ICs) Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. Intel Corporation
2. Samsung Electronics Ltd.
3. Robert Bosch GmbH
4. Qualcomm
5. Renesas Electronics Corporation
6. Infineon Technologies AG

Disclaimer: The companies listed above are not ranked in any particular order.

Automotive Integrated Circuits (ICs) Market News and Recent Developments

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:

• Intel announced plans to drive the company’s AI everywhere strategy into the automotive market, including a deal to acquire Silicon Mobility, a fabless silicon and software company that specializes in SoCs for intelligent electric vehicle (EV) energy management. Intel also announced: a new family of AI-enhanced software-defined vehicle system-on-chips (SoCs), with Zeekr as the first original equipment manufacturer (OEM) to adopt the new SoC to deliver its generative AI-driven living room experiences to next-generation vehicles. (Source: Intel Corporation, Company Website, January 2024)
• Qualcomm Diversifies Automotive Portfolio with Launch of Snapdragon Digital Chassis for 2-Wheelers and New Vehicle Classes. Snapdragon Digital Chassis™ solution expands its support beyond cars and trucks to now include SoCs (System-on-Chip), known as the QWM2290 and QWS2290 platforms, tailored for a wide range of 2-wheelers, as well as micromobility and other motorized vehicle segments. New platforms to leverage latest technologies from Snapdragon® Cockpit and Automotive Connectivity Platforms, and Cloud-Connected Digital Services. (Source: Qualcomm Corporation, Company Website, September 2023)

Automotive Integrated Circuits (ICs) Market Report Coverage and Deliverables

The “Automotive Integrated Circuits (ICs) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive Integrated Circuits (ICs) market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive Integrated Circuits (ICs) market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Automotive Integrated Circuits (ICs) market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Automotive Integrated Circuits (ICs) market
• Detailed company profiles