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The Global Engine Management IC Market size is predicted to reach $35 billion by 2030, growing at a CAGR of 5.1% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Increasing adoption of APIs across various industries, growing number of cyber threats, and growth of digital transformation initiatives are fueling the growth of the Engine Management IC Market during the forecast period, finds IndustryARC in its recent report, titled “Engine Management IC Market Size, Share & Trends Analysis Report By Type (Electric Machinery, Internal-combustion Engine, Hybrid), By Vehicle Type (Passenger Cars, Commercial Vehicles, Two-wheelers), By Component ( Microcontroller, Power IC, Analog & Mixed Signal IC, Wireless IC, Others), By Application (Automation, Automotive, Consumer, Aerospace, Marine, Industrial, Others), By End User (Automotive OEMs, Independent Garages and Workshops), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030.”
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Asia-Pacific to Register Highest Growth:
During the forecast period of 2024-2030, the Asia-Pacific has the highest market share 33% in 2023. the global Engine Management IC market. Due to the rise in industrial activity, particularly in China and India, the region has seen rapid economic expansion. These factors are driving the demand for Engine Management IC solutions and contributing to the growth of the Engine Management IC market share in the Asia-Pacific region.
Engine Management IC Market 2024-2030: Scope of the Report
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Report Metric |
Details |
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Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
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CAGR |
5.1% |
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Market Size in 2030 |
$35 billion |
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Segments Covered |
Type, Vehicle Type, Component, Application, End User Vertical and Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
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Key Market Players |
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Engine Management IC Market Report – Key Takeaways:
As per the Engine Management IC Market forecast, the Electric-Machinery sector is estimated to grow at the fastest CAGR of 7.5% during the forecast period in terms of type as there is a requirement for electronic components to be tiny in order for them to be dependable, affordable, and small. Due to technological advancements like the integration of microcontrollers, which increases efficiency and power output, as well as improved design features like low noise and vibration levels, high-speed operation, and effective cooling techniques, the size of electric motors has decreased over time.
As per the Engine Management IC Market analysis, the automotive segment is projected to exhibit the highest growth of CAGR 7.1% during the forecast period in terms of application due to the rising demand for automobiles with improved efficiency and safety features. Body electronics, powertrain electronics, chassis & safety systems, and engine & drivetrain are further categories under automation. Additional uses include industrial gear and consumer items like refrigerators and washing machines, among others.
There is an increasing need for Engine Management ICs, which increase the efficiency of combustion engines, as environmental sustainability and fuel efficiency become more and more important. By carefully regulating variables like ignition timing and air-fuel ratio, these ICs help to increase fuel efficiency. The demand for improved engine management systems is increasing as vehicles with lower carbon footprints and higher mileage are prioritized by both automakers and consumers.
The increasing complexity of automotive systems poses a significant challenge to the Engine Management IC market growth. Complex engine systems included in modern cars require complex Engine Management ICs for accurate control. Manufacturers have a hurdle in the intricate process of designing and integrating these integrated circuits (ICs) to suit the constantly changing demands of technology. The need for complex Engine Management ICs increases as cars develop to include more sophisticated features and technologies. A major obstacle is the complexity of creating and integrating these ICs to meet the changing needs of intricate engine systems.
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Key Opportunity Analysis:
Increasing Adoption of Electric Vehicles (EVs)
The market opportunity for Engine Management ICs is large due to the swift increase in the popularity of electric vehicles. The need for advanced engine management systems that effectively operate electric powertrains is growing as the automobile industry experiences a radical change towards electric mobility. In electric vehicles, Engine Management ICs are essential for controlling motor control, battery systems, and power electronics. The potential is in creating advanced integrated circuits (ICs) that maximize energy economy, increase range, and improve the overall performance of electric cars. Engine Management IC manufacturers have a great chance to develop and meet the unique demands of the expanding electric vehicle market thanks to the global push for sustainability and the electrification of transportation.
Integration of Advanced Technologies in Internal Combustion Engines (ICEs)
Engine management integrated circuits (ICs) have a significant market opportunity due to the ongoing development of internal combustion engines (ICEs). Advanced engine management systems are becoming more and more necessary as manufacturers work to increase engine performance, lower emissions, and improve fuel efficiency. Modern internal combustion engines (ICEs) are increasingly incorporating advanced technology like variable valve timing, electronic fuel injection, and cylinder deactivation. In order to optimise and control these technologies and maintain strict emission regulations while also promoting fuel efficiency, engine management integrated circuits (ICs) are essential. The market potential is in creating integrated circuits (ICs) that can work in unison with these cutting-edge engine technologies, offering accurate control and real-time changes for maximum efficiency and performance.
Demand for Connectivity and IoT Integration
Engine Management ICs are expected to benefit greatly from the expanding market for vehicle connectivity and Internet of Things (IoT) integration. Telematics, Internet of Things-enabled sensors, and sophisticated connection technologies are becoming more and more commonplace in modern cars. Engine management integrated circuits (ICs) are essential for processing data from these networked components and for real-time communication between various vehicle systems. The market opportunity is in creating ICs that can effectively handle the growing complexity of automotive systems that are networked, guaranteeing smooth data interchange and communication. This entails boosting cybersecurity defences, providing over-the-air upgrades, and optimizing power management for linked devices. Engine Management IC vendors have the chance to offer solutions that enhance the intelligence and dependability of these cutting-edge automotive systems as the automotive industry enters the era of connected and smart automobiles.
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The Report also Covers the Following Areas:
Engine Management IC Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
The Engine Management Integrated Circuit (IC) market has been severely hit by the COVID-19 pandemic, which has created obstacles and altered the market’s growth trajectory. Lockdowns, limitations, and lower customer demand during the pandemic caused production and supply chain activities to be disrupted in the automotive industry, a major user of Engine Management ICs. There was a short drop in car manufacture as a result of several automakers closing their factories, which also reduced the demand for Engine Management ICs.
The global market for engine management integrated circuits (ICs) has been negatively impacted by the conflict between Russia and Ukraine. Engine Management ICs are widely used by the automotive industry, which depends on a complicated network of suppliers, some of whom may be impacted by the current geopolitical climate. The production and availability of vehicles can be impacted by supply chain disruptions, such as longer component transit times and higher transportation costs, which in turn can have an impact on the demand for Engine Management ICs.
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List of Key Market Players in Engine Management IC Market:
The key companies profiled in the Engine Management IC Market Report are listed below:
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