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
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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.
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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.
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