According to the latest report from IC Insights, car and IoT chip sales will grow 70% faster than the overall chip market between 2016 and 2021. By 2021, car chip sales will reach 42.9 billion U.S. dollars With a growth of 20 billion U.S. dollars in 2016. The application of IoT-related chips is expected to increase from 18.4 billion U.S. dollars in 2016 to 34.2 billion U.S. dollars.
Between 2016 and 2021, the CAGR of automotive ICs and IoT ICs will be 13.4% and 13.2% respectively, while the overall CAGR of the chip market will be 7.9% in the same period. By 2021, The global chip market is estimated to reach 4,345 billion US dollars.
