Press release
Automotive SoC Market: Growing Demand, Key Market Trends, and Driving Factors from 2024 to 2029
Automotive SoC Market
What Is The Projected Market Size Of The Global Automotive SoC Market And Its Growth Rate?
The automotive SoC market is seeing consistent growth due to various factors:
• Remarked growth from $26.86 billion in 2024 to $29.12 billion in 2025 with a CAGR of 8.4%.
• The market size is expected to rise to $41.29 billion in 2029 at a CAGR of 9.1%.
• Factors contributing to growth include advances in autonomous vehicle technology, vehicle-to-everything (V2X) communication, e-mobility and battery management.
What Is Driving The Growth In The Automotive SoC Market?
The increased demand for electric vehicles globally is a significant driver in the automotive SoC market. Automotive SoCs enhance the efficiency, interactivity, and safety of electric vehicles. As electric vehicle sales surge, so does the need for more advanced SoCs. According to an International Energy Agency report, over 10 million electric cars were sold globally in 2022, projecting an increase of 35% in 2023. The ascension of electric vehicles from 4% of the overall car market in 2020 to an expected 18% in 2023 is pushing the demand for automotive SoC.
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Who Are the Key Players Driving Automotive SoC Market Growth?
Key players 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.
What Are The Key Trends In The Automotive SoC Market?
Key trends in the automotive SoC market include:
• Integration of advanced sensor interfaces
• Advancements in heterogeneous computing architectures
• Emphasis on cybersecurity in automotive SoCs
• Adoption of functional integration and consolidation
• Focus on over-the-air (OTA) software updates
What Are The Segments Of The Global Automotive SoC Market?
The automotive SoC market is segmented by:
1) Offerings: Hardware, Software, Services
2) Vehicle Type: Passenger Cars, Commercial Vehicles
3) Application: Infotainment System SOCs, Advanced Driver Assistance Systems (ADAS), Intelligent Transport System, In-Vehicle Networking System, Connected Vehicle Platform
Which Region Leads The Automotive SoC Market?
Asia-Pacific was the largest region in the automotive SoC market in 2024. The regions assessed in this automotive SoC market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive SoC Market Global Market Report?
- Market Size Analysis: Analyze the Automotive SoC Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive SoC Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive SoC Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive SoC Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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