Press release
Electric Vehicle Surge Fuels Accelerated Growth In The Automotive System-On-Chip (SoC) Market: A Key Driver Powering Automotive SoC Market Growth In 2025
Automotive SoC
What Is the Current Automotive SoC Market Size and Its Estimated Growth Rate?
In recent years, there has been a robust expansion in the automotive System-on-Chip (SoC) market. It's projected to inflate from $26.86 billion in 2024 to $29.12 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.4%. Factors that have contributed to this growth during the historic period include the escalating intricacy of automotive electronics, increased uptake of the Advanced Driver Assistance Systems (ADAS), integration of infotainment systems, evolution of electric and hybrid vehicles, and adherence to safety and regulatory standards.
The size of the automotive SoC market is projected to experience significant growth in the coming years, escalating to $41.29 billion by 2029 at a compound annual growth rate (CAGR) of 9.1%. The surge in growth during this forecast period is attributed to factors such as autonomous vehicle technology, vehicle-to-everything (V2X) communication, e-mobility and battery management, and a connected car ecosystem, coupled with cybersecurity requirements. The period is also expected to see major trends like the incorporation of advanced sensor interfaces, progress in heterogeneous computing architectures, a focus on cybersecurity measures within automotive SoCs, adoption of functional integration and consolidation strategies, and an increased attention on over-the-air (OTA) software updates.
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How Are Emerging Segments Shaping the Automotive SoC Market Landscape?
The automotive SoC market covered in this report is segmented -
1) By Offerings: Hardware, Software, Services
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Application: Infotainment System SOCs, Advanced Driver Assistance Systems (ADAS), Intelligent Transport System, In-Vehicle Networking System, Connected Vehicle Platform
Subsegments:
1) By Hardware: Processor (CPU, GPU, DSP), Memory (RAM, ROM), Power Management ICs, Communication Interfaces (CAN, Ethernet), Sensors (Camera, LiDAR, Radar)
2) By Software: Operating Systems (Real-Time OS, Linux), Middleware, Development Tools, Application Software
3) By Services: Design and Development Services, Integration Services, Maintenance And Support Services, Consulting Services
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Which Growth Factors Are Influencing Automotive SoC Market Expansion?
The surge in global demand for electric vehicles is predicted to spur the growth of the automotive SoC market. Electric vehicles, which operate solely or partially on electric power through an electric engine instead of the traditional combustion engine, utilize automotive SoCs to enhance efficiency, safety, and interactivity. Thus, a rise in the popularity of electric vehicles is linked to market expansion. For example, the International Energy Agency (IEA), based in France, reported in April 2023 that over 10 million electric cars were sold worldwide in 2022, predicting a sales boost of 35% this year to reach 14 million. This notable increase has raised the proportion of electric vehicles in the total car market from approximately 4% in 2020 to 14% in 2022, and this figure is projected to climb to 18% this year. Moreover, according to the IEA's Net Zero Emissions by 2050 Scenario, endeavors to manufacture batteries are expected to sufficiently cater to the demand for electric vehicles until 2030. As a result, the escalating demand for electric vehicles is propelling the automotive SoC market's growth.
Who Are the Dominant Players Across Different Automotive SoC Market Segments?
Major companies operating 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., Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc. (ADI), Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Inc., Marvell Technology Inc., Cadence Design Systems Inc., Cypress Semiconductor Corporation, Himax Technologies Inc., Nordic Semiconductor ASA, Lattice Semiconductor Corporation, Faraday Technology Corporation, Ambarella Inc., Telechips Inc., Infotmic Co. Ltd., Fujitsu Semiconductor Limited, Hyundai Autron Co. Ltd.
What Are the Latest Developing Trends in the Automotive SoC Market?
The growing trend of product innovations in the automotive SoC market is increasingly noteworthy. Market-leading corporations are strongly invested in the creation of novel technological solutions to fortify their market position. For example, Qualcomm Technologies Inc., an American semiconductor firm, introduced the Snapdragon Ride Flex in January 2023. This innovation represents the automotive industry's first scalable SoC family. Notably, it's tailored to simultaneously support the digital cockpit and high-end driver assistance systems. The Snapdragon Ride Vision stack is a pre-integrated feature, and its software and hardware have been collaboratively designed for computer vision, AI, and optimal power consumption to ensure outstanding performance in a mixed-criticality environment.
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Which Geographic Regions Are Expected to Dominate the Automotive SoC Market in the Coming Years?
Asia-Pacific was the largest region in the automotive SoC market in 2024. The regions covered in the automotive soc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive SoC Market?
2. What is the CAGR expected in the Automotive SoC Market?
3. What Are the Key Innovations Transforming the Automotive SoC Industry?
4. Which Region Is Leading the Automotive SoC Market?
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