10 Oct 2022 -
 EV

Automotive IC market share is set to hit 10% by 2026

automotive chip sales

The automotive IC market share has grown steadily since 1998, from 4.7% of total IC sales that year to 7.4% in 2021, and is expected to continue to grow, reaching 8.5% this year and 9.9% in 2026, according to IC Insights.

The driving force behind this growth are the myriad number of new sensors, analog devices, controllers, and optoelectronics being incorporated into most new vehicles. Moreover, the rise of hybrid and all-electric vehicle sales worldwide is adding to this forecast growth.

IC Insights said that a sharp increase in electric-vehicle sales in the first three months of 2022 raised the EV share of new car sales in the U.S. to approximately 5%. Of the approximately 250 million cars and light-duty trucks in the U.S., it is estimated that only 1% are electric, but interest and sales continue to grow.

To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.

For more help with looking at supply chain options, contact Astute Electronics

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