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Auto IC market to reach $35B by 2014

Posted: 29 Jun 2011 ?? ?Print Version ?Bookmark and Share

Keywords:automotive? IC market? revenue?

The MarketsandMarkets report titled, "Global Automotive Semiconductors Industry Forecast (2010C2014)" has predicted an upward trend in the auto IC industry that will continue to climb as the worldwide market recovers from the economic recession.

The report analyzed the automotive semiconductors market by product types and applications. It has also studied the major market drivers, restraints, and opportunities for automotive semiconductors market in America, Asia-Pacific, and Europe, Middle East and Africa (EMEA).

The automotive semiconductors market peaked in the year 2007 at $20 billion. However, toward 4Q08, the industry saw a steep decline. The credit crisis in the United States and its subsequent effect on the automotive industry reflected in the following years. The market revenue dropped to $18 billion in 2008 and continued to fall through 2009, bottoming out at $16.6 billion.

With the effect of the United States government bailout on the part of the auto majors, and the partial recovery of European and Asian markets, MarketsandMarkets said that 2010 saw a sheer rise with the industry surpassing 2007's highs and obtaining a total revenue of $22 billion. The company also said that barring any unforeseen crises, the upward trend is likely to continue in the light of increasing car sales across the world, and the market is expected to close at $35 billion by 2014.

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