The automotive infotainment SoCs market is expected to be worth US$ 18.2 billion in 2023 and US$ 40.1 billion by 2033. During the projection period, the market would grow at an 8.2% CAGR.
How are Manufacturers Growing Automotive Sector in the Global Market?
Manufacturers focus on innovating products with the latest advanced technologies to satisfy consumers’ requirements. These manufacturers are growing the automotive sector through their unique, improved, advanced feature products. These advanced automotive infotainment SoCs include driver assistance systems, video processing, voice recognition, and navigation.
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Manufacturers are Focused on Several Strategies, Including:
- Integrated Advanced Features: Manufacturers are developing advanced features with better technologies, such as gesture control, driver assistance, and others. These features are easy to make changes while driving the vehicles.
- Compatibility with Various Platforms: The manufacturers develop infotainment systems to connect with multiple platforms, including Apple CarPlay, Android Auto, and others.
- Collaborating with Key Companies: The manufacturers enhance their reach to target relevant audiences to increase product sales. Therefore, these manufacturers approach key companies already established in the market to collaborate with them with their unique products.
- Focus on Autonomous Vehicles: The growing popularity of self-driving and electric cars are highly preferred among users to enhance their experiences. These manufacturers’ design features include charging station locations, real-time traffic data, and advanced driver assistance systems.
Key Takeaways:
- The automotive infotainment SoCs market is registering a CAGR of 8.2% with a valuation of US$ 40.1% by 2033.
- The United States is dominating the global market by registering a share of 22.6% during the forecast period.
- The United Kingdom is estimated to secure a share of 9.2% in the global market during the forecast period.
- By collecting a share of 10.6%, India is significantly growing its global market size.
- Historically, the market secured a valuation of US$ 13.4 billion in 2018.
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Key Players Develop Strategic Plans to Add Values in the Global Market
The key companies are developing marketing strategies to add value by innovating their products to stay ahead of competitors. The key players, including Nvidia, Qualcomm, Texas Instruments, and Renesas, are expanding the market growth.
These companies are developing advanced artificial intelligence engines for gesture controls and speed recognition. These players adopt the strategies to develop strong collaboration, partnerships, and product launch strategies to increase their product sales. These strategies reach new consumers and satisfy their requirements.
- Intel is one of the prominent players in the market that provides high-performance computing solutions, including advanced driver assistance systems.
- Texas is another prominent player that provides digital semiconductors in automotive infotainment systems. They also provide reliable and high-quality solutions to their users.
- Renesas Electronics develop highly integrated infotainment solutions that meet safety in the automation sector.
Recent Developments in the Global Automotive Infotainment SoCs Market are:
- In 2021, Qualcomm launched its new product Snapdragon Automotive Cockpit Platforms. It was designed with artificial intelligence infotainment systems with 5G connectivity and high-resolution displays.
- In 2020, NXP Semiconductors announced its newly launched 8QuadPlus SoCs and I.MX 8QuadMax. They deliver high performance with multiple high-resolution displays.
- In 2018, Renesas Electronics launched R-Car Series SoCs. It is designed for next-gen infotainment systems with network connectivity and advanced graphics.
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Automotive Infotainment SoCs Market by Category
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Application:
- Infotainment Systems
- Sound System
- Head Unit
Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East Africa
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