Press release
Autonomous Driving SoC Market Set for Strong Growth - From $36.8 Billion in 2023 to $100.1 Billion in 2033 | Growing at a CAGR of 10.6%
Autonomous Driving SoC Market Research, 2033 :
The global autonomous driving soc market was valued at $36.8 billion in 2023, and is projected to reach $100.1 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.
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Segment Highlights
The demand for automotive SoCs in passenger vehicles is driven by the increasing integration of advanced driver assistance systems (ADAS) and infotainment systems. These SoCs enable features like adaptive cruise control (ACC) , lane-keeping assistance system (LKAS) , and automated parking systems (APS) , enhancing both safety and convenience for drivers. Consumer demand for enhanced safety features, connectivity, and entertainment options in vehicles is fueling the growth of automotive SoCs in passenger vehicles. Additionally, regulatory mandates for vehicle safety and emissions are pushing automakers to adopt more advanced technologies, further driving the demand for SoCs.
Commercial vehicles are increasingly incorporating advanced driver assistance and fleet management systems powered by automotive SoCs. These systems help improve efficiency, reduce operating costs, and enhance safety for commercial vehicle operators. The growth of e-commerce and logistics industries is a significant driver for the adoption of automotive SoCs in commercial vehicles. Fleet operators are investing in technologies like adaptive cruise control (ACC) and traffic jam assist (TJA) to optimize delivery routes, improve fuel efficiency, and ensure timely deliveries.
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Regional Outlook
North America, particularly the U.S., and Canada are advancing in the development and adoption of autonomous driving technologies, with major players like NVIDIA, Intel, and Qualcomm investing heavily in this sector. The presence of a robust automotive industry, supportive regulatory environment, and strong technological infrastructure contribute to the growth of the automotive SoC market in this region.
Leading Market Players :
NVIDIA Corporation
Intel Corporation
Qualcomm Technologies, Inc.
Texas Instruments Incorporated
Ambarella, Inc.
MediaTek Inc.
Renesas Electronics Corporation
Xilinx, Inc.
NXP Semiconductors N.V.
Infineon Technologies AG
The report provides a detailed analysis of these key players in the global autonomous driving SoC. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
In December 2023, Ambarella, Inc., a semiconductor company specializing in edge AI (Artificial Intelligence) introduced its autonomous driving (AD) software stack. This software stack is a collection of modular components designed to enable autonomous driving capabilities in vehicles. The stack is primarily powered by deep learning AI processing, which allows it to perform tasks such as environmental perception, sensor fusion, and vehicle path planning.
On January 9th, Black Sesame Technologies, a prominent provider of intelligent vehicle System-on-Chip (SoC) solutions, unveiled several groundbreaking products and solutions during the CES 2024 event. Among the highlights were the introduction of their high-performance, automotive-grade autonomous driving chip, named the Huashan Series A1000, and their intelligent vehicle cross-domain computing platform, known as the Wudang C1200 Series.
In September 2020, Li Auto Inc., one of the prominent player in China's new energy vehicle market announced a strategic partnership with NVIDIA Corporation, a global leader in artificial intelligence computing, and its Chinese partner, Huizhou Desay SV Automotive. This collaboration aims to integrate NVIDIA's next-generation autonomous driving smart chip, Orin SoC (System-on-a-Chip) , into Li Auto's full-size extended-range electric vehicles scheduled for launch in 2022.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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