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Auto IC market to breach Rs.1.50 lakh crore by 2014

Posted: 30 Jun 2011     Print Version  Bookmark and Share

Keywords:automotive  IC market  revenue 

MarketsandMarkets forecasts an upward trend in the automotive semiconductors market in the light of increasing car sales across the world, and barring any unforeseen crises, expects the market to touch Rs.1.56 lakh crore ($35 billion) by 2014.

The MarketsandMarkets report titled, "Global Automotive Semiconductors Industry Forecast (2010–2014)" has based its predictions on the automotive semiconductors market by product types and applications including a study on 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 Rs.89,285.71 crore ($20 billion). However, towards 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 Rs.80,357.14 crore ($18 billion) in 2008 and continued to fall through 2009, bottoming out at Rs.74,107.14 crore ($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 Rs.98,214.29 crore ($22 billion). The company concludes that the auto IC industry will continue to climb as the worldwide market recovers from the economic recession.

For more statistics and forecasts, click here.

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