menu
Automotive SoC Market Size
Automotive SoC Market Size
The Automotive SoC Market size is forecast to reach $16.8 billion by 2026, growing at a CAGR of 7.2% for the period 2021-2026.

The Automotive SoC Market size is forecast to reach $16.8 billion by 2026, growing at a CAGR of 7.2% for the period 2021-2026. The Automotive SoC is a designed purpose-built system-on-chip (SoC) for developing highly autonomous cars, integrated with breakthrough cyber security identification, monitor, and investigation systems. The Automotive SoC market is largely driven by the introduction of a plethora of computer-based systems in car, growing popularity of Advanced driving assistance systems, along with the successful launches of electric and hybrid vehicles around the world. The impressive performance of high-end automotive SoCs is influencing the automotive industry to integrate ADAS applications and other tailored artificial intelligence (AI) for enabling operations such as LiDAR point cloud mapping, integrated circuit, real-time 3D mapping and many more. In fact, the potential investment towards modern-age smart cars & vehicles, with integrated circuit solution and automobile connectivity chips, along with high competition in the worldwide automotive industry and rising disposable incomes across the globe is estimated to contribute to the growth of the Automotive SoC Industry. In addition, the growing need for a seamless driving experience and other specific safety mechanism technologies to improve transportation are accelerating the demand for Automotive SoC Market.

Automotive SoC Market Segment Analysis – By Vehicle Type

By Vehicle type, the Automotive SoC Market is segmented into Passengers Cars and Commercial Vehicles. The passenger car segment is analyzed to register the highest share in 2020, and grow at a CAGR of 9.3% in the forecast period due to the breakthrough automotive solution to provide safety critical applications and automated driving solution. The growing demand for higher bandwidth and other connectivity elements for denoting Advanced Driver Assistance Systems drive the market growth. In December 2020, a premier supplier of advanced semiconductor solutions, Renesas Electronics Corporation unveiled the R-Car V3U. The R-Car V3U is an exclusive ASIL D system on chip (SoC) that offers advanced driver assistance systems (ADAS) and automated driving (AD) systems. Hence, the increasing demand for enhanced functional safety and other potential development for automated driving are estimated to drive the Automotive SoC Market.

Request for Sample Report  @ https://www.industryarc.com/pdfdownload.php?id=507943

Report Price: $ 5900 (Single User License)

Automotive SoC Market Segment Analysis - By Application

By Application, the Automotive SoC Market is segmented into Infotainment Systems, Advanced driver-assistance systems (ADAS), Intelligent Transport System, Connected Vehicle Platform and Others. The Infotainment Systems segment is analyzed to register the highest share in 2020, and grow at a CAGR of 8% in 2021 to 2026, owing to the emergence of various in-vehicle infotainment systems and the intelligent connected solution to cater various car models. In July 2020, Pioneer India, a leading Auto-infotainment system provider launched 3 Car AV receivers with Alexa built-in, for car infotainment. Thus, the growing advancement of automotive infotainment, and the incorporation of latest designs to serve several application bases are estimated to drive the Automotive SoC Market.

Automotive SoC Market Segment Analysis – By Geography

North America dominated the Automotive SoC Market in 2020, and projected to grow at CAGR of 6.63% in the forecast period, followed by Asia-Pacific, owing to the presence of innovative semiconductor technology providers and fiercely competitive automotive market to provide next-generation automotive solutions. Furthermore, the growing consumer demand for luxurious cars and next-generation automobiles, embedded with ADAS, speech recognition, enhanced security, GPS and other feature-rich infotainment systems are driving the growth of the market, specifically in the U.S.A. In August 2020, Qualcomm Technologies, Inc. collaborated with Automotive technology company, Veoneer, Inc. to deliver scalable Advanced Driver Assistance Systems (ADAS). In order to address the impending complexities related with designing advanced driver-assistance systems (ADAS), such as SoC platform, graphics processing unit and other safety compliance, this strategic partnership aims to address the respective concerns across every vehicle tiers. In February 2021, Tata Consultancy Services (TCS), the major IT service provider launched a Neural Automotive and Industrial Experience Center in Troy, Michigan. This Centre offers customers and partners with an automotive garage set-up that further provide access to the advanced technologies to experiment, co-innovate, build prototypes, and launch solutions in an agile way. Therefore, the significant acquisitions among leading manufacturers and investment to deliver next-generation technology is estimated to drive the Automotive SoC Market in this region.

Automotive SoC Market Drivers

Growing prominence of Electric Vehicle market

The growing electric Vehicle market due to advanced electric infrastructure, strong government initiative and increasing demand for zero-emission vehicles is fueling the growth of the Automotive SoC Market. In addition, the sensitivity towards cleaner and greener environment across the globe accelerates the sale of the electric vehicles. In February 2020, Mahindra & Mahindra launched the KUV100 electric SUV at the Auto Expo 2020. The new eKUV100 is India’s most affordable electric car that is designed with a 40kW electric motor to deliver 53bhp of power with a peak of 120Nm. In addition, the increasing needs to design sustainable and clean energy pathways, most automakers are collaborating to develop enhanced EV battery technology and other indispensable infrastructure for EV models. In December 2020, the NextEra Energy Resources, LLC, today acquired eIQ Mobility, the leading software provider of mobility planning solutions based in Oakland, California. The acquisition helps the customers to identify varied economic operational ways while selecting suitable electric vehicles and associated charging infrastructure. As the investments from automakers are growing, Royal Dutch Shell acquired Ubitricity, in January 2021, the owner of one of the largest electric vehicle (EV) charging networks in the United Kingdom (UK). Royal Dutch Shell signed this strategic acquisition due to the decision made by the Ubitricity to increase the investments in next-generation EV cars. Thus, all these factors play a major role to formulate the growth of Automotive SoC Market. 

Rising demand for Advanced Driver Assistance System (ADAS) Cars

The significant rise in the demand for Advanced Driver Assistance System (ADAS) Cars among consumers due to intelligent speed assistance, advanced safety systems, parking assistance and other automated technology are contributed to promote the growth of the Automotive SoC Market. In January 2020, Samsung launched Digital Cockpit 2020, which utilizes 5G to connection features inside and outside the vehicle, which offers improved connected experiences and safe driving support for drivers and passengers. Hence, the growing awareness about vehicle safety and other real-time monitoring systems to deliver robust opportunities are estimated to drive the growth of Automotive SoC Market. 

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=507943

Automotive SoC Market Challenges

Growing vulnerability leading to data breaches

With all the advantages of the Automotive SoC system that lead to strong market growth, there is a major concern that is associated with security impediment. The security threat landscape is growing enormously to create possibility of hacking, and thus, it directly impact on humans safety. There are several well-publicized security breaches recently that raise severe concern for designing a complete autonomous driving system, which resulting a key restraining factor for the growth of the Automotive SoC Market.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Automotive SoC Market. The Automotive SoC Market top 10 companies include Infineon Technologies AG, Intel Corporation, NEC Corporation, NVIDIA Corporation, NXP Semiconductors N.V., Qualcomm  Incorporated, Renesas Electronics Corporation, STMicroelectronics N.V., Texas Instruments Incorporated, Telechips, Inc. OmniVision Technologies Inc. and among others.

Partnerships/Product Launches/Contracts

In November 2020, Hyundai Motor Group collaborated with NVIDIA Corporation and launched NVIDIA DRIVE ‘connected car’ infotainment and AI platform, which enables Hyundai Motor Group’s IVI systems to combine with audio, video, navigation, connectivity and artificial intelligence (AI)-based ‘connected car’ services.

In May 2020, a leading developer of advanced digital imaging solutions, OmniVision Technologies, Inc. launched 1.3MP OX01E10 SoC, an automotive SoC for entry-level rear view Cameras with industry's best low-light performance, lowest Power consumption and compact size.

Key Takeaways

The growing Electric Vehicle market due to advanced electric infrastructure, strong government initiative and increasing demand for zero-emission vehicles is fueling the growth of the Automotive SoC Market.

The The Infotainment Systems segment is analyzed to register the highest share in 2020, and grow at a CAGR of 8% in 2021 to 2026, owing to the emergence of various in-vehicle infotainment systems and the intelligent connected solution to cater various car models.

North America dominated the Automotive SoC Market in 2020, and projected to grow at CAGR of 6.63% in the forecast period, owing to the presence of innovative semiconductor technology providers and fiercely competitive automotive market to provide next-generation automotive solutions.

Related Reports 

A.Advanced Driver Assistance Systems (ADAS) Market

https://www.industryarc.com/Report/20/advanced-driver-assistance-systems-market.html

B.Automotive Artificial Intelligence Market

https://www.industryarc.com/Report/18530/automotive-artificial-intelligence-market-research-report.html

For more Information and Communications Technology Market reports, please click here