Press release
Global Automotive System On Chip Market to Witness Stellar CAGR During the Forecast Period
Automotive System-On-Chip Market: IntroductionIn today’s world, technological advancements in automotive industry is resulting into a period of high innovative activity and great amount of business changes. Automotive system-on-chip refers to a micro-chip installed in automotive devices which provides high system integration and less power consumption, which target the cost-sensitive market of multimedia and navigation systems in car, including car radios with high-end technology. The automotive system-on-chip helps automotive manufacturers to transform the driver's-seat experience to increased levels of safety and convenience.
Automotive System-On-Chip is used to integrate functions in a car including sensing, controlling and actuating a motor. This helps to save space and energy, improve overall system reliability with diagnostic features and reduces overall cost owing to minimized number of components.
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Automotive System-On-Chip Market: Drivers and Restraints
Factors such as rising adoption of Internet-of-Things, technological advancements and continuous research and development in automobile industry, and development of advanced system-on-chips are the primary factors driving the growth of automotive system-on-chip market. Moreover, increasing demand of computing devices and miniature consumer electronics globally is also resulting into the growth of automotive system-on-chip market.
However, high operational cost of system-on-chips and lack of flexibility are some factors causing a hindrance in the growth of automotive system-on-chip market.
Automotive System-On-Chip Market: Segmentation
Automotive system-on-chip market can be segmented on the basis of end-user solution and region wise. On the basis of end-user solution the market is further segmented into entry level solution, mid-range solution and premium solution. Region wise, automotive system-on-chip market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
Automotive System-On-Chip Market: Regional Overview
North America automotive system-on-chip market holds the largest market share and is expected to dominate the market in the near future owing rise of IoT adoption in this region followed by Europe. Asia Pacific contributes a significant market share in automotive system-on-chip market due presence of semiconductor manufacturers in this region. Latin America and MEA region are expected to show a moderate growth rate in automotive system-on-chip market.
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Automotive System-On-Chip Market: Key Players
Renesas Electronics, Infineon Technologies, Qualcomm Inc., STMicroelectronics N.V, Toshiba Corporation, MediaTek Inc., Samsung Electronics are some of the key players in automotive system-on-chip market.
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