According to Future Market Research’s (FMI) updated research, the market for automotive SoC is anticipated to increase from US$17,066.7 million in 2022 to US$26,800.5 million in 2028. From 2022 to 2028, the Automotive SoC market would expand at a CAGR of 7.8%. Nearly 20% of the global System-On-Chip (SoC) market was accounted for by the automotive SoC market.
The increasing use of ADAS and infotainment systems in smart vehicles, self-driving cars, and semi-autonomous cars by automotive original equipment manufacturers (OEMs) and car manufacturers worldwide are just a few of the factors driving the global automotive SoC market’s significant growth in the upcoming years.
Consumption Analysis of Automotive SoC Market from 2013-2021 Vs Market Outlook for 2022-2028
The global automotive SoC Market is estimated to be valued at around US$ 9,536.8 Mn in 2013. The demand for automotive SoC products is expected to rise at the rate of CAGR of 6.5% during the period 2013-2021. Expansion in North America is supported by the presence of top key car manufactures and higher adoption of electric vehicles in coming years. Infotainment system segment is set to register higher market share 59.4% of total automotive SoC market share in 2028.
Automotive SoC is in-house or outsourced function that can investigates, monitors, and helps to improve the security posture of fleets. Automotive SoCs can be utilize in enhancing automated structures that offers state-of-the-art experience to the driver or customer. Automotive SoCs helps in multiple specialized processing units on a single chip that performs multiple simultaneous tasks such as body control, camera vision, and information display.
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Which growth strategies are influencing the expansion of the automotive SoC market?
The demand for the automotive SoC market is anticipated to grow rapidly in the near future. This is ascribed to government initiatives, rules, and regulations that stimulate the development of hybrid and electric vehicles, as well as technological improvement in the automotive industry to improve the driving experience for customers.
With the aid of contemporary smart vehicles and cars, autonomous cars have high-tech automotive chips or ultra-modern automobile connectivity chips that guarantee the protection of pedestrians and the driver. The demand for the automotive SoC market is expected to be fueled by the ongoing investments made in automotive R&D by vehicle manufacturing businesses around the world.
Automotive SoC Market Survey by Category
By Application
- Infotainment Systems SOCs
- ADAS SOCs
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- SEA and other of APAC
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
3.1. Macroeconomic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
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About Future Market Insights, Inc.
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