Global Automotive SoC Market Size is Surging to USD 70.24 Billion by 2030, Exhibit CAGR of 9.52%: Smart Vehicles and ADAS Adoption Fueling Growth

New York, NY, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Automotive SoC Market By Component (Analog ICs, Microcontrollers & Microprocessors, Logic ICs, And Memory), By Vehicle (Commercial Vehicles And Passenger Vehicles), By Application (Powertrain, Telematics & Infotainment, Safety, Chassis, And Body Electronics), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030” in its research database.

“According to the latest research study, the demand of global Automotive SoC Market size & share in terms of revenue was valued at USD 37.16 billion in 2022 and it is expected to surpass around USD 70.24 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.52 % during the forecast period 2023 to 2030.”

What are Automotive SoC? How big is the Automotive SoC Industry?

Report Overview:

The global Automotive SoC Market was valued at $37.16 Billion in 2022, and is projected to reach $70.24 Billion by 2030, growing at a CAGR of 9.52% from 2023 to 2030.

The term "System on a chip" refers to a type of semiconductor product that eliminates the previous requirement of installing a large number of integrated circuits (ICs) in order to allow many compound enhanced properties to be implemented independently. The field of automobile manufacturing is one of the most important application areas for a system on a chip.

Because automotive SoCs are used, automobile manufacturers have been able to implement more advanced automated structures, which provides customers with an experience that is on par with the most recent technological advances. It is projected that India and China, two of the world's most populous developing nations, would witness significant increases in the production of automotive system-on-chips (SoCs) in the not-too-distant future. This is due to the numerous benefits offered by automotive SoCs, as well as the rising desire for enhanced driving experiences.

In the coming years, the worldwide automotive SoC market is expected to experience substantial growth due to several factors. These include the rising adoption of Advanced Driver Assistance Systems (ADAS) and infotainment systems in smart vehicles, self-driving cars, and semi-autonomous cars by Automotive Original Equipment Manufacturers (OEMs) and car manufacturers worldwide.

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Global Automotive SoC Market: Growth Factors

The use of automotive systems on a chip (SoC) by several automobile manufacturers of all different kinds of cars results in a more streamlined and cutting-edge driving experience for the consumer. In addition, the development of hybrid and electric vehicles has been identified as the primary growth element that is contributing to the expansion of the worldwide automotive SoC market.

In the approaching time period, analysts anticipate that the global market for automotive SoC will expand at a rapid pace. This is because there is a growing demand for ultra-modern automobile connectivity chips, which enable huge capacity data networking, and modern-day smart automobiles and vehicles, which guarantee the safety of drivers as well as pedestrians.

In the upcoming period of time, the global market for automotive SoCs will be presented with prospects for expansion thanks to developments and commercialization in the field of completely automatic vehicles, which may include driverless taxis. In the not-too-distant future, high-power automotive chips are expected to find widespread application in the development of smart vehicles. This is mostly attributable to the requirement for fully automatic automobiles and other types of vehicles to process data concurrently from a large number of sensors that are mounted on the vehicles. Large companies like as NVIDIA Corporation have referred to these SoCs as "pocket-sized supercomputers," and it is believed that they will soon become a fundamental component of automated cars.

The utilisation of improved technologies, the accelerating economic expansion of developing economies in the Asia Pacific area, and the shifting spending behaviours of customers in this region are important factors that are impacting the development of the worldwide automotive SoC market. However, substantial investment costs connected with the implementation of automotive SocS represent a significant barrier that poses a challenge to the market share of global automotive SoC.

Advanced automobiles come equipped with a range of features, including speech recognition, audio/video sensing, image compatibility, GPS, radar capabilities, advanced driver assistance systems, enhanced security and safety measures, and integrated LED front lighting, among others. Automotive System-on-Chips (SoCs) play a pivotal role in vehicle automation. As a result, the continuous technological advancements and ongoing research and development in the automotive industry are anticipated to drive the demand for the automotive SoC market.

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Report Scope

Automotive SoC Market: Segmentation Analysis

The global market for automotive SoCs can be broken down into submarkets based on the components, vehicles, applications, and regions involved. Analogue integrated circuits, microcontrollers and microprocessors, logic integrated circuits, and memory make up the different subsets of the market based on the component. The market may be broken down into two distinct categories: passenger vehicles and commercial vehicles, both of which are determined by the type of vehicle being sold.

The global market for automotive SoCs can be segmented into the following submarkets based on their application: powertrain, telematics and infotainment, safety, chassis, and body electronics. One of the growth elements that is growing the application of ADAS framework is an increased concern about the safety and assistance that is required while driving a vehicle for the purpose of ensuring the protection of the user. As a consequence of this, it is anticipated that the safety application in the worldwide market for automotive SoCs would witness a significant development over the course of the subsequent time frame.

The global Automotive SoC market is segmented as follows:

By Component

• Analog ICs
• Microcontrollers & Microprocessors
• Logic ICs 
• And Memory

By Vehicle

• Commercial Vehicles 
• Passenger Vehicles

By Application

• Powertrain
• Telematics & Infotainment
• Safety
• Chassis
• Body Electronics

Browse the full “Automotive SoC Market By Component (Analog ICs, Microcontrollers & Microprocessors, Logic ICs, And Memory), By Vehicle (Commercial Vehicles And Passenger Vehicles), By Application (Powertrain, Telematics & Infotainment, Safety, Chassis, And Body Electronics), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030" Report At https://www.zionmarketresearch.com/report/automotive-soc-market

Competitive Landscape

Some of the main competitors dominating the global Automotive SoC market include - 

• NXP Semiconductors
• Infineon Technologies
• Texas Instruments
• Renesas Electronics
• STMicroelectronics
• Qualcomm Technologies
• NVIDIA
• Intel (through its subsidiary Mobileye)
• MediaTek
• Broadcom
• ON Semiconductor
• Analog Devices Inc (ADI)
• Microchip Technology Inc
• Xilinx Inc
• Toshiba Electronic Devices & Storage Corporation
• ROHM Semiconductor
• Marvell Technology Group
• Silicon Labs
• Nuvoton Technology Corporation
• Ambarella Inc

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Automotive SoC market is likely to expand at a CAGR of around 9.52 % during the forecast period (2023-2030).   
• In terms of revenue, the Automotive SoC market size was valued at around US$ 37.16 billion in 2022 and is projected to reach US$ 70.24 billion by 2030.
• Based on component, Passenger Car Segment Exhibit High Demand for Automotive SoC
• Based on application segments, The infotainment system will be the primary driver of sales for automotive SoCs across all application segments.
• At the moment, it is expected that the United States market would have the highest consumption of automotive SoC in the North American region.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Automotive SoC industry?
• What are the main driving factors propelling the Automotive SoC Market forward?
• What are the leading companies in the Automotive SoC Industry?
• What segments does the Automotive SoC Market cover?
• How can I receive a free copy of the Automotive SoC Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Component, By Vehicle, By Application and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Asia Pacific holds the first position because this region accounts for more than the half of the global manufacturing of vehicles. On the other hand, Europe accounts for the second-most prominent market in terms of share. The European market is predicted to observe a notable rise in the development of the automotive SoCs owing to the existence of the eminent luxury car brands including BMW, Porsche, Volkswagen, and AUDI.

The region of North America holds a large market share in the global automotive SoCs market and is expected to hold its position in the global automotive SoC market over the upcoming timeframe as well. The automotive SoC market in this region is predicted to display a noteworthy gradual opportunity in the future. The increasing adoption of enhanced automotive structures including infotainment structures by the automotive manufacturers in this region is further anticipated to assist the growth of the North America Automotive SoC market in the upcoming times.

The automotive SoC market in the United States is experiencing notable growth due to the increasing adoption of advanced automotive systems like infotainment systems by major automotive OEMs such as General Motors, Ford Motor Company, Tesla, and other well-known brands in the region. Additionally, the rising popularity of semi-autonomous cars, hybrid vehicles, and electric cars in North America is expected to drive the demand for automotive SoCs in the US market.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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