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Automotive IC Marketshare Seen Rising to 10% by 2026
September 28, 2022 | IC InsightsEstimated reading time: 1 minute
IC Insights released its 3Q Update to the 2022 McClean Report in August. This Update included a 2020-2026 IC database that segmented the IC market by major product type including Consumer, Auto, Computer, Industrial, Communications, and Government/Military end-use applications in the Americas, Europe, Japan, China, and Asia-Pacific regions.
The figure shows that the automotive IC marketshare has steadily increased since 1998 growing from 4.7% of total IC sales that year to 7.4% in 2021. Marketshare gains are forecast to continue for the auto segment, with an 8.5% share expected this year and 9.9% share by the year 2026. At the heart of this growth are the myriad number of new sensors, analog devices, controllers, and optoelectronics being incorporated into most new vehicles. Moreover, the rise of hybrid and all-electric vehicle sales worldwide is adding to this forecast growth.
In a report released by Automotive News, a sharp increase in electric-vehicle sales in the first three months of 2022 raised the EV share of new car sales in the U.S. to approximately 5%. Of the approximately 250 million cars and light-duty trucks in the U.S., it is estimated that only 1% are electric, but interest and sales continue to grow.
These factors are expected to result in the automotive market registering the strongest 2021-2026 CAGR of any of the major end-use segments at 13.4%. Given its relatively small size, however, the high growth in the automotive IC segment is not expected to be enough to significantly lift the growth rate of the total IC industry over the next five years.
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