Global Automotive Integrated Circuit (ICs) Market Market-Industry Analysis and Forecast (2019-2026)
- POSTED ON Thursday, April 15, 2021
Rapid electrification of vehicles and increase in usage of automotive integrated circuit technology in automobiles like driver assistance system in-vehicle communication system transmission control system, and others is estimated to offer beneficial demand for electronics in vehicles. These factors drive the global Automotive Integrated Circuit (ICs) Market. Increase in demand of electronics in vehicles lowers down the price of ICs, which further boosts the market growth. In addition, emergence of IoT in automotive industry assists to supplement the growth of the market. On the other hand, complex design of automotive ICs hampers the market growth. The design chain of automotive IC is extremely complex than those of mobile phones or electronic home appliances like televisions and remote controllers. This makes the designing of highly reliable automotive ICs a difficult task. Furthermore, decline in prices of ICs and rise in demand for electronics in vehicles are projected to offer profitable opportunities for the global Automotive Integrated Circuit (ICs) Market.
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