As per the revised research done by Future Market Research (FMI), the Automotive SoC market size is expected to grow from US$ 17,066.7 Mn in 2022 to US$ 26,800.5 Mn by 2028. The Automotive SoC market would grow at a CAGR of 7.8% during 2022-2028. The automotive SoC market accounted for almost 20% market share of the global System-On-Chip (SoC) market industry.
The global automotive SoC market is set to show significant growth in coming years owing to factors such as the increasing adoption of Advanced Driver Assistance Systems (ADAS) and infotainment systems in smart vehicles, self-driving cars, and semi-autonomous cars by Automotive Original Equipment Manufacturers (OEMs) and car manufacturer across the globe.
The automotive SoC market refers to the market for system-on-a-chip (SoC) products used in the automotive industry. These products integrate multiple hardware and software components, such as microprocessors, memory, and input/output interfaces, into a single chip. They are used in a variety of automotive applications, including advanced driver assistance systems (ADAS), infotainment systems, and powertrain control systems. The market is expected to grow as the demand for advanced technologies in the automotive industry, such as autonomous driving and connected cars, increases.
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Consumption Analysis of Automotive SoC Market from 2013-2021 Vs Market Outlook for 2022-2028
The global automotive SoC Market is estimated to be valued at around US$ 9,536.8 Mn in 2013. The demand for automotive SoC products is expected to rise at the rate of CAGR of 6.5% during the period 2013-2021. Expansion in North America is supported by the presence of top key car manufacturers and the higher adoption of electric vehicles in coming years. The infotainment system segment is set to register a higher market share 59.4% of the total automotive SoC market share in 2028.
Automotive SoC is an in-house or outsourced function that can investigate, monitor, and helps to improve the security posture of fleets. Automotive SoCs can be utilized in enhancing automated structures that offer the state-of-the-art experience to the driver or customer.
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.
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.
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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.
Automotive SoC Market Survey by Category
By Application
- Infotainment Systems SOCs
- ADAS SOCs
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- SEA and other of APAC
- Middle East & Africa
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