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.
Key HighlightsThe constantly evolving market space of application-specific analog IC for the automotive market shows moderate to high-intensity competition. The market comprises major electronic manufacturing companies, offering solutions specific to automotive applications. The high setup costs keep the new entrants from entering the space. However, local OEM suppliers are constant threats coming up with the evolving products as per market requirements.
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