A recent report on the global automotive integrated circuits market suggests that we can expect to see the market grow in the next few years. The report by Research and Markets provides an in-depth market analysis of IC within the automotive market during the period 2017-2021, finding that the global automotive IC market can be expected to grow at a compound annual growth rate of 6.61%.
The findings of the report suggest that one of the key trends contributing to the growth of the automotive IC market is the emergence and rapid progress of the Internet of Things, or IoT. In recent times, automotive companies have invested considerably in IoT technology as this is one of the key interests of not only vehicle buyers, but also big investors. As a result, IoT connected cars and other automobiles have considerable potential for growth in the next few years.