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Automotive IC Market Worth $89,140 Billion by 2025
August 10, 2018 | PRNewswireEstimated reading time: 1 minute
The global automotive IC market was valued at $43.24 billion in 2017, and is projected to reach at $89.14 billion by 2025, growing at a CAGR of 9.3% from 2018 to 2025.
At present, the North America region dominates the global automotive IC market, owing to increase in adoption of high-end vehicles in this region. Factors such as increase in vehicle production and improvement in vehicle standards with emerging technologies fuel the growth of the Asia-Pacific automotive IC market. Moreover, various technological advancements in electric vehicles have been in progress, owing to government initiatives, which propel the market growth. For instance, according to the Wall Street Journal, China is close to finalizing a $47 billion investment fund that would finance semiconductor research and chip start-up development, which is expected to assist in propelling the growth of the automotive IC market.
Key Findings of the Automotive IC Market:
- In 2017, the engine management segment generated the highest revenue in the global automotive IC market.
- In 2017, the hybrid or multichip integrated circuit segment generated the highest revenue among the other IC types in the global automotive IC market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market research provides global enterprises as well as medium and small businesses with unmatched quality of market research reports and business intelligence solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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