As per a detailed analysis by FMI, the global automotive System-On-Chip (SoC) market is estimated to top US$ 17.06 Bn in 2022. Increasing adoption of advanced features such as infotainment systems in modern cars is fueling the demand in the market.
| 2022 Market Value | US$ 17,066.7 Mn |
| 2028 Market Value | US$ 26,800.5 Mn |
| CAGR% (2022-2028) | 7.8% |
| Share of Top 5 Market Players | 30% |
Automotive SoC’s are extensively being used to enhance automated structures for providing a state-of-the-art experience to the driver. With growing penetration of autonomous driving, automakers are increasingly integrating technologies such as SoC to improve the security posture of fleets. On account of this, the market is projected to total US$ 26.8 Bn by 2028.
Also, government of several countries is implementing stringent regulations to mandate the incorporation of certain security features in autonomous vehicles such as advanced driver assistance systems (ADAS) to enhance the safety of pedestrians and drivers.
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Hence, increasing the sale of autonomous vehicles is estimated to propel the demand at robust CAGR of 7.8% over the forecast period 2022-2028.
Further, surging demand for automotive vehicles with advanced features such as speech recognition, GPS and radar capabilities, audio/video sensing, and image compatibilities are augmenting the sales of automotive SoC.
Driven by this, the automotive SoC market is poised to account for around 20% of the overall share of the SoC market in 2022.
In terms of application, the infotainment system segment is projected to dominate the market over the assessment period. Increasing incorporation of infotainment systems by automakers to provide features such as voice commands, calling, and touch screen displays in their vehicles are favoring the growth in the segment.
“Growing demand for advanced connected cars and favorable government initiatives to promote electric & hybrid vehicles to curb the carbon emission across the U.S., China, and India is expected to accelerate the growth in the market,” says a FMI analyst.
Key Takeaways from Automotive SoC Market Study
- The U.S. is forecast to emerge as the most remunerative market in North America, creating an incremental opportunity of US$ 1.85 Bn through 2028.
- China is estimated to account for a significant share in Asia Pacific market, expanding at 8.6% CAGR during the forecast period.
- Germany is projected to register rapid growth in Europe automotive SoC market, surpassing US$ 522.1 Mn between 2022 and 2028.
- India is expected to exhibit steady growth in the automotive SoC market, owing to growing demand for advanced passenger cars in the country.
- Based on vehicle type, the passenger car segment is anticipated to account for the maximum shares, growing at 8% CAGR over the assessment period.
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Key Drivers
- Increasing use of automotive SoC for integrating innovative systems such as telematics, internet-of-things, and ADAS in vehicles is propelling the demand in the market.
- Growing demand for advanced commercial vehicles for the application across construction, mining, and transport sectors is facilitating the growth in commercial vehicle segment.
Key Restraints
- High cost of incorporation and maintenance of automotive SoC is hindering the sales in the market.
- Need to replace the complete car dashboard in case of any transistor or system damage is a primary factor hampering the growth in the market.
Competitive Landscape
Leading automotive SoC manufacturers are intensively investing in research and development (R&D) activities to diversify their product portfolios by launching innovative technology. Besides this, some of the player are aiming at strategic partnership acquisitions, mergers, and collaborations with automotive companies to expand their market share.
For instance,
- In January 2018, ON Semiconductor, an American semiconductor supplier company, announced entering into a strategic partnership with a German automotive manufacturer, Audi AG. As per the partnership, ON Semiconductor will foster innovations and make latest technologies available for the automaker. The will assist the company to strengthen its position in the market.
- In February 2018, Renesas, Japanese semiconductor manufacturer, announced launching its new R-Car V3H system-on-chip (SoC), which delivers artificial intelligence processing and high computer vision performance to automotive from cameras in Level 3 and Level 4 automotive cars.
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Some of the key players operating in the market profiled by FMI are:
- Texas Instruments Incorporated
- Infineon Technologies AG
- Intel Corporation
- NVIDIA Corporation
- Qualcomm Technologies, Inc.
- STMicroelectronics
- NEC Corporation
- NXP Semiconductors
- ON Semiconductor Corporation
- Renesas Electronics Corporation
By Application
- Infotainment Systems SOCs
- ADAS SOCs
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- SEA and other of APAC
- Middle East & Africa
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More Valuable Insights on Automotive SoC Market
The latest report by FMI provides a detailed analysis of the global automotive SoC market, providing exclusive insights into key factor driving the market between 2022 and 2028. The study also discloses sales projections on in automotive SoC market with detailed segmentation:
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