Demand for automotive ICs rockets
1 min read
The automotive IC market is forecast to experience the highest annual growth rate of the six major end use applications for ICs during the next few years.
Between now and 2018, the sector is expected to experience growth of 10.8%, four percentage points greater than the next closest category – communications – at 6.8% and ahead of the 5.5% anticipated growth for the total IC market during this time.
According to IC Insights, this is partly due to the fact that the market is growing from a smaller base compared to the communications, computer, and consumer segments, and partly because a steady and significant increase in IC content is expected on board all new cars.
This year, the total automotive IC market is expected to grow by 15% to reach $21.7billion, compared to a more modest increase of just 1% in 2013. In addition, the automotive memory IC market is forecast to more than double from an estimated $2.0bn in 2014 to $4.2bn in 2018.
