Press release
Automotive SoC Industry to See Robust Expansion, Valued at $39.78 Billion by 2029
Automotive SoC
What Is the Projected CAGR for the Automotive SoC Market from 2024 to 2025?
The size of the automotive soc market has seen robust growth over the past years. The market is projected to expand from $26.86 billion in 2024 to $28.72 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. The growth during the historical period is associated with an increased complexity in automotive electronics, the implementation of advanced driver assistance systems (ADAS), integration of infotainment systems, the development of electric and hybrid vehicles, and compliance with safety and regulatory norms.
What are the Expected Market Size and CAGR for Automotive SoC by 2029?
The automotive soc market is predicted to experience robust expansion in the coming years, escalating to a value of $39.78 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. Such advancement during the forecast period can be accredited to development in autonomous vehicle technology, vehicle-to-everything (V2X) communication, e-mobility and battery management, and the connected car ecosystem, as well as cybersecurity needs. Notable trends anticipated during this timeframe encompass the incorporation of sophisticated sensor interfaces, progress in heterogeneous computing architectures, a spotlight on cybersecurity within automotive SoCs, the acceptance of functional integration and consolidation, and a concentration on over-the-air (OTA) software updates.
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Which Factors Are Driving the Global Automotive SoC Market Expansion?
The surge in worldwide demand for electric vehicles is predicted to fuel the expansion of the automotive SoC market. Electric vehicles, which either entirely run on electric power or are partially powered, employ an electric engine rather than a conventional combustion engine. A rise in the use of electric vehicles necessitates the application of automotive SoCs, enriching their efficiency, interactivity, and safety, thus driving market growth. For example, as per the International Energy Agency (IEA), a France-based institution, information from April 2023 indicated that more than 10 million electric cars were sold across the world in 2022. It's predicted that sales will rise by 35% this year, reaching 14 million. This significant improvement has raised the proportion of electric vehicles in the total car market from around 4% in 2020, to 14% in 2022. It's expected that this will escalate further to 18% during this year. Moreover, there is optimism that battery production ventures will suffice the demand for electric cars up until 2030, according to the IEA's Net Zero Emissions by 2050 Scenario. Therefore, rising demands for electric cars is fuelling the automotive SoC market's expansion.
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Which Segment Currently Holds the Largest Share of the Automotive SoC Market?
The automotive soc market covered in this report is segmented -
1) By Offerings: Hardware, Software, Services
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Application: Infotainment System SOCs, Advanced Driver Assistance Systems (ADAS), Intelligent Transport System, In-Vehicle Networking System, Connected Vehicle Platform
Subsegments:
1) By Hardware: Processor (CPU, GPU, DSP), Memory (RAM, ROM), Power Management ICs, Communication Interfaces (CAN, Ethernet), Sensors (Camera, LiDAR, Radar)
2) By Software: Operating Systems (Real-Time OS, Linux), Middleware, Development Tools, Application Software
3) By Services: Design and Development Services, Integration Services, Maintenance And Support Services, Consulting Services
Which Major Trends Are Shaping the Future of the Automotive SoC Industry?
The introduction of new products is a prevailing trend in the automotive SoC market. Leading firms in this market are centered around concocting new tech solutions to fortify their market stance. For instance, Qualcomm Technologies Inc., a semiconductor firm based in the US, in January 2023, introduced the Snapdragon Ride Flex, representing the first-ever scalable family of SoCs in the automotive sector. This product is distinctly crafted to assist the digital cockpit and advanced driver assistance systems at the same time. It is provisioned with the Snapdragon Ride Vision stack, and its combined hardware and software are specially made for computer vision, artificial intelligence, and efficient power consumption to ensure optimal performance in a mixed-criticality situation.
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Which Key Players Dominate the Automotive SoC Industry Globally?
Major companies operating in the automotive SoC market include Samsung Electronics Co. Ltd., Robert Bosch GmbH, Intel Corporation, Denso Corporation, Qualcomm Technologies Inc., Broadcom Inc., Toshiba Electronic Devices & Storage Corporation, NVIDIA Corporation, NEC Corporation, Advanced Micro Devices Inc., Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc. (ADI), Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Inc., Marvell Technology Inc., Cadence Design Systems Inc., Cypress Semiconductor Corporation, Himax Technologies Inc., Nordic Semiconductor ASA, Lattice Semiconductor Corporation, Faraday Technology Corporation, Ambarella Inc., Telechips Inc., Infotmic Co. Ltd., Fujitsu Semiconductor Limited, Hyundai Autron Co. Ltd.
What Are the Fastest-Growing Regions in the Automotive SoC Market?
Asia-Pacific was the largest region in the automotive SoC market in 2024. The regions covered in the automotive soc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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