Press release
Electric Vehicle Surge Fuels Accelerated Growth In The Automotive System-On-Chip (SoC) Market: Strengthening the Growth Trajectory of the Automotive SoC Market
Automotive SoC Market
Automotive SoC Market Size Growth Forecast: What to Expect by 2025?
There has been a robust expansion in the size of the automobile System-on-Chip (SoC) market in the last few years. The market, which is projected to swell from $26.86 billion in 2024 to $29.12 billion in 2025, is expected to experience a Compound Annual Growth Rate (CAGR) of 8.4%. The increase in this historical period can be credited to several factors including the increased sophistication of automobile electronics, the adoption of Advanced Driver Assistance Systems (ADAS), the inclusion of infotainment systems, advancements in electric and hybrid vehicles, as well as compliance with safety and regulatory standards.
How Will the Automotive SoC Market Size Evolve and Grow by 2029?
Predictions indicate a significant expansion in the automotive SoC market in the upcoming years; it is set to swell to $41.29 billion in 2029, with a compound annual growth rate (CAGR) of 9.1%. Developments like autonomous vehicle technology, vehicle-to-everything (V2X) communication, e-mobility, battery management, and the increasing needs of cybersecurity in the connected car ecosystem are contributing towards this predicted growth in the forecast period. Key trends expected during the forecast period are the incorporation of advanced sensor interfaces, progress in heterogenous computing layouts, emphasis on automotive SoC cybersecurity, the shift towards functional integration and consolidation, and attention to over-the-air (OTA) software updates.
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What Drivers Are Propelling the Growth of Automotive SoC Market Forward?
The rise in global demand for electric vehicles is projected to boost the growth of the automotive System-on-Chip (SoC) market. Electric vehicles, which run entirely on electric power or partially supplemented by it, rely on an electric engine as opposed to traditional combustion engines. The role of automotive SoCs in these vehicles is to enhance efficiency, enrich user interaction, and ensure safety. Consequently, the expansion of the electric vehicle industry directly boosts the SoC market. For example, the International Energy Agency (IEA), a France-based organization, reported in April 2023 that more than 10 million electric cars were sold worldwide in 2022, predicting a 35% surge in sales to 14 million this year. This phenomenal growth has seen the market share of electric vehicles rise from around 4% in 2020 to 14% in 2022, with a forecasted increase to 18% this year. The IEA's Net Zero Emissions by 2050 Scenario also anticipates that battery fabrication projects will sufficiently cater to electric vehicle demand up until 2030. Thus, the escalating demand for electric vehicles is indeed propelling the expansion of the automotive SoC market.
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Which Emerging Trends Are Transforming the Automotive SoC Market in 2025?
The evolving trend of product innovations is capturing the automotive SoC market's attention. With the aim of fortifying their market position, leading firms in the sector are investing efforts into the creation of novel technological solutions. A case in point was in January 2023 when Qualcomm Technologies Inc., a renowned US-based semiconductor organization, unveiled the Snapdragon Ride Flex. This was the first-ever scalable family of SoCs in the automotive industry. Uniquely configured, it facilitates the operation of the digital cockpit and advanced driver assistance systems at the same time. The Snapdragon Ride Flex is not only pre-fitted with the Snapdragon Ride Vision stack, but its hardware and software have been co-developed with a focus on computer vision, artificial intelligence, and energy-efficient power use to ensure an optimal performance in a variety of critical situations.
What Are the Key Segments in the Automotive SoC Market?
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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Who Are the Key Players Shaping the Automotive SoC Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive SoC Market?
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.
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