According to the 2018 IC Insights report, the automotive electronics market is projected to grow at a compound annual growth rate (CAGR) of 5.4% between 2016 and 2021, making it the fastest-growing among the six major end-user segments. This upward trend reflects the rising demand for advanced electronic systems in vehicles, including autonomous driving technologies, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems, as well as features focused on safety, convenience, and environmental sustainability.
As these technologies become more common in mid-range and entry-level cars, along with the growing popularity of aftermarket solutions, the automotive electronics sector continues to expand rapidly. For semiconductor manufacturers, this represents a significant opportunity, as many of these systems rely heavily on analog ICs, microcontrollers (MCUs), and a wide range of sensors.
Looking at the broader market, the global electronic systems market was valued at $1.49 trillion in 2017, with the automotive segment accounting for 9.1% of that total. This share has steadily increased from 8.9% in 2015 and 9.0% in 2016. By 2021, the automotive sector is expected to hold 9.8% of the overall electronic system market. Despite the addition of more electronic systems in new vehicles, IC Insights notes that the proportion of automotive applications in the broader electronics market may still rise due to cost pressures on ICs and electronic components.
In terms of market growth, the automotive sector is anticipated to be the fastest-growing in the electronic systems industry by 2021. This is great news for the automotive IC market, which saw a 22% increase in 2017 and is expected to grow by 16% in 2018.
Meanwhile, the industrial electronics market is expected to grow at the second-highest rate of 4.6% through 2021, driven by advancements in robotics, wearable health devices, and IoT-enabled systems. In 2017, analog ICs accounted for 45% of the industrial IC market. With smartphone sales reaching saturation globally, the communications IC market is expected to grow at a CAGR of 4.2% from 2016 to 2021, with the Asia-Pacific region leading the way—projected to capture 69% of the total communications IC market in 2017.
The consumer electronics market is forecasted to grow at a CAGR of 2.8% by 2021, with logic chips becoming the largest segment within the consumer IC market. The overall consumer IC market is expected to see a 2.4% CAGR over the same period.
On the other hand, the personal computing market, which includes desktops, laptops, and tablets, is expected to experience slower growth, with its CAGR falling to a low point before 2021. However, in 2017, the computer IC market is projected to grow by 25% due to rising average prices for DRAM and NAND flash memory.
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