Automotive Integrated Circuit (ICs) Market – Forecast, 2020-2027

The global automotive Integrated Circuit (ICs) market is experiencing an upsurge in demand over the forecast period. This is mainly due to the rising production of vehicles, growing demand for electric vehicles, and the increasing need for electronics in vehicles to improve its features. Moreover, various technological advancements such as the implementation of IoT and favorable government standards to produce autonomous, connected, and low emission vehicles are certain other factors surging the market growth of the automotive integrated circuit in the upcoming years. Increasing concerns associated with the safety & security of the passengers in the automobiles, rising implementation of such IC in in-vehicle networking, and advanced driver assistance systems is enhancing the demand for an automotive integrated circuit around the world.