Automotive Integrated Circuit Ics Market Vehicle Type Insights
Vehicle Type Segment Insights and Overview There is a significant difference in the global Automotive Integrated Circuit market for all three vehicle types. They are passenger cars, commercial vehicles, and two wheelers. The passenger cars’ share of the segment was the highest in 2023 and will continue to hold this position. This is caused by a fast increase in the number of passenger cars sold, especially in the markets of emerging economies.
The commercial vehicles’ share will increase as the segment will experience the most significant growth throughout the forecast period.The market for these vehicles is rapidly increasing as the demand grows in the logistics, transportation, and construction segments.
The increase in popularity of two wheelers in urban areas and developing countries will result in this segment’s share growing gradually. It should be noted that although this share is the lowest, the number of two wheelers sold worldwide is still considerable. The highest revenue is going to be brought by the passengers cars segment. It will be followed by commercial vehicles and two wheelers, which will also be the sequence for the subsequent years.This is because there are two times more passenger cars sold compared to the total of commercial vehicles and two wheelers.
At the same time, the share of commercial vehicles indicates that a considerable share of the market revenue comes from this sector. Finally, although the lowest, the share of two wheelers is still significant and will bring a lot of revenue as their popularity in urban areas and developing countries is growing. Overall, the Vehicle Type segment is shaping the favorable conditions for the Automotive Integrated Circuit Market growth as the demand for the three vehicle types is likely to grow over time.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Automotive Integrated Circuit Ics Market IC Technology Insights
The IC Technology segment significantly drives the development of the Automotive Integrated Circuit Ics Market. The materials, such as Silicon Carbide and Gallium Nitride appear to have high potential and are gaining popularity for their power electronics integrated circuits. These materials boast higher power efficiency and density. The Automotive Integrated Circuit Ics Market revenue for SiC and GaN is projected to increase and reach USD 2.4 billion by 2024.
The Silicon-on-Insulator technology is beneficial for its improved technology and reduced leakage currents, which make it perfect for ADAS and autonomous driving.The Complementary Metal-Oxide-Semiconductor technology is widely used because of its low cost and can be applied to any type of ICs used in the automotive field from in-vehicle systems to powertrain control units. Automotive Integrated Circuit Ics Market statistics show the growth of the production of CMOS-based ICs since they are highly scalable and universal in terms of technology integration.
Automotive Integrated Circuit Ics Market Application Insights
The Automotive Integrated Circuit Ics Market by Application is segmented into Power Management, Infotainment, Safety and Security, and Telematics. The Power Management segment is expected to hold the largest market share in 2024 due to the increasing demand for fuel-efficient vehicles. The Infotainment segment is expected to grow at the highest CAGR during the forecast period due to the rising popularity of connected cars.
The Safety and Security segment is expected to witness significant growth due to the increasing need for advanced safety features in vehicles.The Telematics segment is expected to hold a significant market share due to the growing demand for vehicle tracking and fleet management systems.
Automotive Integrated Circuit Ics Market Level of Automation Insights
The Level of Automation segment plays a crucial role in the Automotive Integrated Circuit Ics Market, influencing market growth and driving innovation. As of 2023, Level 1 systems held a significant market share, enabling basic driver assistance features such as lane departure warning and automatic emergency braking. By 2024, Level 2 systems are projected to witness a surge in adoption, offering more advanced capabilities like adaptive cruise control and lane keeping assist.
Level 3 systems, expected to emerge in 2025, will bring conditional automation, allowing drivers to delegate certain driving tasks under specific conditions.The market for Level 4 systems, expected in 2028, will witness high growth, providing high levels of automation and enabling hands-free driving in most situations. Level 5 systems, still in the research and development phase, are expected to achieve full automation, eliminating the need for human intervention in driving. The Automotive Integrated Circuit Ics Market segmentation provides insights into the evolving landscape of autonomous driving technologies, shaping market growth and innovation.
Automotive Integrated Circuit Ics Market Chip Design Insights
The Automotive Integrated Circuit Ics Market is segmented by Chip Design into Full-Custom Design, Semi-Custom Design, and Application-Specific Integrated Circuit (ASIC) Design. The Full-Custom Design segment held the largest share of the market in 2023 and is projected to continue to grow at a CAGR of 9.6% from 2023 to 2032. The Semi-Custom Design segment is expected to grow at a CAGR of 9.3% during the forecast period, while the ASIC Design segment is anticipated to grow at a CAGR of 9.1%.
The growth of the Automotive Integrated Circuit Ics Market is attributed to the increasing demand for automotive electronics, such as advanced driver assistance systems (ADAS), infotainment systems, and powertrain control modules.The rising adoption of electric vehicles and autonomous vehicles is also driving the growth of the market.
