LONDON--(BUSINESS WIRE)--#Automotive--The latest market research report by Technavio on the global automotive integrated circuits (IC) market predicts a CAGR of close to 7% during the period 2017-2021.
The report segments the global automotive IC market by vehicle type (passenger car and commercial vehicle), by types of semiconductor (analog, logic, discrete, and micro components), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global automotive IC market, according to Technavio automotive researchers:
- Rapid electrification of automobiles: a major market driver
- The passenger car segment held the largest share of almost 76% in the global automotive IC market in 2016
- APAC dominated the global automotive IC market with around 54% share in 2016
- Robert Bosch, Infineon Technologies, NXP Semiconductors, STMicroelectronics, and Renesas Electronics are the leading players in the market
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Rapid electrification of automobiles: a major market driver
Rapid electrification of automobiles is one of the major factors driving the global automotive IC market. The decreasing price of ICs, increasing demand for electronics in vehicles, growing demand for powertrain systems that require sensors, microcontrollers, and analog converters are factors that have led to the growth of automotive IC market. Electrification of drivetrain, vehicle intelligence and consumerization of auto electronics are the major factors fostering the growth of the automotive semiconductor market. The demand for electronic components in the drivetrain is growing due to the adoption of hybrid and EVs. This has made the drivetrain the largest segment for automotive semiconductor usage.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
APAC: largest automotive IC market
The economic growth of emerging countries in the region such as China and India are attracting global automobile manufacturers to this region. Global players are investing significantly in the production and R&D of new technologies and are contributing to the growth of the market. Japan, China, and India are the key countries in APAC that are leading the market in terms of vehicle demand. The major IC manufacturers in APAC are Alcon Electronics and Xiamen Sanan Integrated Circuits.
According to Ganesh Subramanian, a lead analyst at Technavio for research on automotive electronics, “OEMs are attracted to the market in APAC because they present a huge growth potential. Some OEMs have also established their foundries in the region to mark a long-term presence. APAC will continue to be crucial to all OEM suppliers because the maximum production volume growth will be in APAC during the forecast period. Establishing a supplier base in APAC gives OEMs significant cost benefits.”
Competitive vendor landscape
The global automotive IC market is highly fragmented. It has the presence of many established manufacturers and a significant number of small and medium-sized enterprises. The market is also characterized by the presence of well-diversified global and regional vendors. However, as global players expand their footprint, regional vendors are finding it difficult to compete on aspects such as quality, safety, and price. The competitive environment in this market is expected to intensify further due to an increase in the use of ICs arising from growing government regulations and consumer demand for safety and advanced features.
Get a sample copy of the global automotive IC market report free of cost
Access Technavio’s continuously growing automotive electronics research library and find expert analysis on hundreds of markets.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200