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 are extensively being used to enhance automated structures for providing a state-of-the-art experience to the driver. With the 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.
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Additionally, to improve the safety of pedestrians and drivers, the governments of several nations are enacting strict legislation that demand the inclusion of specific security measures, such as advanced driver assistance systems (ADAS), in autonomous vehicles.
Therefore, it is predicted that rising sales of autonomous vehicles would drive demand at a strong CAGR of 7.8% from 2022 to 2028.
The desire for advanced automotive features including speech recognition, GPS and radar capabilities, audio/video sensing, and picture compatibility is also boosting automotive SoC sales.
Due to this, the automotive SoC industry is anticipated to have 20% of the total SoC market share in 2022.
The infotainment system application segment is anticipated to rule the market during the time of analysis. The category is growing as a result of automakers integrating infotainment systems into their vehicles more frequently to give capabilities like voice controls, dialling, and touch screen displays.
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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