July 14, 2024

Automotive Is Fastest Growing Segment Fueling The Growth Of Global Analog Ic Market

Market Overview:

Analog ICs are used in various electronic devices for functions like power management, data conversion, amplification of weak signals, and generating waveforms. They are crucial in sectors like automotive, industrial, consumer electronics due to their roles in regulating voltage levels, power efficiency, signal processing and general system functioning.

Market key trends:

One of the key trends driving the analog IC market is the widespread adoption of autonomous and electric vehicles. Automakers are increasingly incorporating advanced driver-assistance systems and infotainment consoles into vehicles which require a variety of analog ICs for functions like battery management, motor control, sensor interfaces etc. As autonomous driving technologies mature and EVs see higher sales, the demand for analog ICs from the automotive industry is expected to rise substantially over the forecast period.

Segment Analysis
The global analog IC market can be segmented into operational amplifiers, data converters, linear regulators, voltage references, and other analog ICs. The operational amplifiers segment dominated the market and accounted for over 25% market share in 2023 due to wide adoption of operational amplifiers in instrumentation and high-end industry applications.

Key Takeaways

The Global Analog IC Market Demand is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing demand for high-performance integrated circuits and growing adoption of consumer electronics.

Regional analysis
Asia Pacific dominated the global analog IC market with around 35% share in 2023 due to strong presence of analog IC manufacturing companies and semicon industry in countries such as China, Taiwan, South Korea and Japan. The region is expected to maintain its dominance over the forecast period backed by increasing industrialization and urbanization.

Key players
Key players operating in the analog IC market are Texas Instruments Incorporated, Renesas Corporation, Infineon Technologies AG, Qualcomm Technologies, Inc., NXP Semiconductors, ON Semiconductor, STMicroelectronics, Skyworks Solutions, Inc., Analog Devices, Inc., and Maxim Integrated Products Inc.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it