Automotive Phase-Locked Loops (PLLs) Market Size, Share, Growth Analysis, By Application(Engine Control Units, Infotainment System, Advanced Driver Assistance System (ADAS)), By Type(Analog PLLs and Digital PLLs), By Region - Industry Forecast 2024-2031

Global Automotive Phase-Locked Loops (PLLs) Market size was valued at USD 392.27 Billion in 2022 and is poised to grow from USD 418.16 Billion in 2023 to USD 697.27 Billion by 2031, at a CAGR of 6.60% during the forecast period (2024-2031).

The purpose of the market is to provide reliable and accurate timing signals to ensure the proper functioning of various automotive systems. The increasing demand for safety, comfort, and convenience features in modern vehicles has driven the need for more advanced and sophisticated PLLs. As a result, the market for automotive PLLs is expected to grow in the coming years, driven by factors such as increasing vehicle production, rising demand for advanced safety features, and the growing trend of vehicle electrification. For Instance, in March 2021, Renesas Electronics Corporation announced the availability of a new PLL synthesizer that features the industry's highest frequency range of 18 GHz for 5G and other high-frequency applications. In June 2021, Analog Devices, Inc. (ADI) announced a new PLL synthesizer, ADF4373, which features wideband microwave VCO and is designed for applications such as satellite communications, radar systems, and instrumentation.

US Automotive Phase-Locked Loops (PLLs) Market is poised to grow at a sustainable CAGR for the next forecast year.