Global Application Specific Automotive Analog IC Market Size

Application Specific Automotive Analog IC Market Analysis

The global application-specific automotive analog IC market is expected to register a CAGR of 6.9% from 2022 to 2027. The market refers to different integrated circuit (IC) chips facilitating various sensors and other purposes. Since each IC chip serves a specific purpose in various automotive products, it creates a demand for mass production. This forms a market comprising industries dedicated to manufacturing and investing resources in the constant evolution and optimization of such application-specific analog ICs.

• Analog ICs refer to the IC deployed with sensors, input transducers, and signal processors and converters. These ICs convert the analog signals into digital values and vice-versa, which are programmable and exchange data with the central processing units for further processing. The interface between the environmental factors and the central processing units inside an automotive vehicle is facilitated by the sensors in analog ICs for specific usage.
• Recent times have seen a rise in the development and adoption of autonomous and semi-autonomous vehicles. This development in the self-driving or drive-assist features could be possible by leveraging the options available for sensing the environment. The rapid growth in analog ICs, with new-age sensors like ultrasonic sensors, RADARs, LIDARs, etc., could make real-time monitoring of the surroundings realistic. The fast processing and transfer of information from these ICs could facilitate a more immediate response, ensuring the safety of the passengers and the pedestrians.
• The evolution of analog ICs for automotive applications has benefitted different applications, like infotainment systems, vehicular handling and dynamics, power management, powertrains controls, safety solutions, IoT remote connected features, etc. Such features incorporate different ICs dedicated to specific functions to carry out networking among different sections of vehicular operation.
• The safety advancements achieved through features like Electronic Stability Program (ESP), ABS, EBD, lane-keep assist, electronic brake assist, etc., are some of the features that are being made compulsory for automotive manufacturers to include in their offerings. The introduction of such regulations is driving the analog IC market for constant upgradation, optimization, and faster data processing rates, to minimize the response time and maximize safety. The precision of such systems is enhanced with the advancement in analog ICs used for each safety feature.
• The covid-19 pandemic demanded the manufacturers shift focus to fulfill the demand for remote-working essentials. Companies opting for work-from-home and international lockdowns focused on consumer electronics items, affecting industries, including analog IC manufacturing. Car-making factories remained shut down due to a lack of workforce movement, which decreased the production of analog ICs for automotive requirements. The supply chain disruption created then in the analog IC industry is still in the recovering phase, pushing the lead times further for the automotive manufacturers.