Integrated Circuits Market Demand Grows With Electric And Autonomous Vehicles As Per The Business Research Company's Integrated Circuits Global Market Report 2022
LONDON, Jan. 25, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the integrated circuits market, electric vehicles and autonomous vehicles have rapidly increased the demand for integrated circuits. Even in conventional cars, there is a steady increase in electronic components in recent times, which has led to a rise in integrated circuits application. Automobile manufacturers are developing autonomous vehicles with the use of high-end chips, including processors and application-specific integrated circuits. Most automotive companies need systems and sensors that can help in emissions reduction, autonomous driving, and advanced driver assistance. Even the implementation of strict government regulations for driver’s safety and security is leading to an increase in high-quality integrated circuits. Many companies are adapting to the latest and advanced integrated circuits market trends to gain a competitive edge.
For instance, an electric vehicle manufacturer, Rimac Automobili incorporated Analog Devices Inc’s precision battery management system integrated circuit in its cars, which helps in extracting the maximum energy and capacity of the batteries