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Automotive SoC Market

Automotive SoC Market by Application (Infotainment Systems SOCs, ADAS SOCs, and Others), Vehicle Type (Passenger Cars and Commercial Vehicles), & Region - Forecast to 2022 - 2028

Automotive SoC Market by Application (Infotainment Systems SOCs, ADAS SOCs, and Others), Vehicle Type (Passenger Cars and Commercial Vehicles), & Region - Forecast to 2022 - 2028

Automotive SoC Market - Analysis, Outlook, Growth, Trends, Forecasts

Automotive SoC Market Overview

[259 Pages Report] As per the revised research done by Future Market Research (FMI), the Automotive SoC market size is expected to grow from US$ 17,066.7 Mn in 2022 to US$ 26,800.5 Mn by 2028. The Automotive SoC market would grow at a CAGR of 7.8% during 2022-2028. The automotive SoC market accounted for almost 20% market share of global System-On-Chip (SoC) market industry.

The global automotive SoC market is set to show significant growth in coming years owing to factors such as increasing adoption of Advanced Driver Assistance Systems (ADAS) and infotainment systems in smart vehicles, self-driving cars and semi-autonomous cars by Automotive Original Equipment Manufacturer (OEMs) and car manufacturer across the globe.

 2022 Market Value

US$ 17,066.7 Mn

 2028 Market Value

US$ 26,800.5 Mn

 CAGR% (2022-2028)

7.8%

 Share of Top 5 Market Players

30%

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.

Which Growth Strategies are impacting the Automotive SoC Market growth?

The demand for the automotive SoC market is projected to develop at a high rate in the forthcoming period. This is attributed to technological advancement in automotive sectors to enhance the customer experience while driving and supportive government initiatives, rules and regulation to develop hybrid vehicles and electric vehicles.

Autonomous cars has high-tech automotive chips or ultra-modern automobile connectivity chips that ensures the safety of pedestrians and driver with the help of modern-age smart vehicles and car. The continuous investment by car manufacturing companies across the globe in the R&D of automobiles is set to fuel the demand for the automotive SoC market. 

The advance automobiles include features such as speech recognition, audio/video sensing, image compatibilities, GPS and radar capabilities, advanced driver assistance, next level security & safety, and IC-integrated LED front lighting and others. Automotive System-On-Chips (SOC) have a crucial role in vehicle automation. Thus technological advancement and continuous R&D in automotive sectors is expected to spur the demand for the automotive SoC market.

Country-wise insights

How will Sales of US Automotive SoC Shape up?

Currently, the U.S. market anticipate for the largest consumption of automotive SoC in North America region, and is expected to grow at 6.4% CAGR by 2028. U.S. market is expected to create an absolute dollar opportunity of US$ 1,853.6 Mn over forecasted period.

U.S. market witness significant growth in automotive SoC market owing to rising adoption of advanced automotive systems such as infotainment systems by the key automotive OEMs such as General Motors, Ford Motor Company, Tesla, and others automotive brands, in the region. The growing adoption of semi-autonomous cars, hybrid vehicle, and electric cars across North America is set to propel the demand for the automotive SoC, in the US market.

Why is China a Prominent Market for Automotive SoC Market in Coming Years?

Among the key APAC countries, China is projected to exhibit relatively higher growth rate in the global automotive SoC market with a CAGR of over 8.6% during 2022-28. China market accounts for the largest consumption of automotive SoC in APAC region, and market size is expected reach 1.6X over the forecasted period.

China witness significant development in automotive SoC due to initiatives and regulations impose by Chinese government in automotive sector. Chinese government focusing on improving fuel-efficient systems & vehicle emission levels and supplementing the production of electric and hybrid vehicles. For instance, in October 2016, Society of Automotive Engineers of China (SAEC) issued roadmap for rapid development of self-driving cars. Such development in country is anticipate to boost the demand for the automotive SoC market in China.

Why is Germany Automotive SoC Market a One of the Prominent Market for?

The Germany market is set to report the largest consumption of automotive SoC in Europe region, and market size is expected reach 2.6X by 2028. Germany market is projected to create an absolute dollar opportunity of US$ 522.1 Mn from 2022-28.

Germany has a strong economic base and is the 5th largest economy in the world. Germany is renowned for its automotive industry, provoke by prominent automotive brands such as BMW, the Daimler Group (Mercedes-Benz, Detroit Diesel, Freightliner Trucks), and the Volkswagen Group (VW, Porsche, Audi, Lamborghini, Bentley Motors, MAN, SEAT, Scania, Skoda). Germany witness fully standardised electric car charging solutions that promotes electric car take-up. Thus presence of such developed infrastructure for next-level automotive industry and electric cars in the country propels the demand for the automotive SoC market.

Category-wise Insights

Why is Demand for Infotainment System Segment Rising?

Infotainment system across the application segment will dominate the automotive SoC sales, and expected to reach 1.4X of the 2022 market, by 2028. Moreover, ADAS segment is set to witness highest growth rate of 10.3% CAGR over the forecasted time period.

Infotainment system enables driver to control of many functions centralized location, incoming, outgoing, and conference calls, and many more. It delivers information and entertainment to the driver as well as passenger through video/audio interfaces, control elements such as button panel, touch screen displays, voice commands, and more. Thus rising adoption of infotainment system over the years for the purpose of to improve vehicle safety, better connectivity solutions, and enhance in-vehicle user-experience to boost the demand for the infotainment system. 

Why does Passenger Car Segment Exhibit High Demand for Automotive SoC?

On the basis of vehicle type, the passenger car segment will be a dominating segment. The market size of passenger car segment is expected to expand up to 1.6X of year 2022 over the forecasted period. The passenger car segment is set to register the growth at the rate of CAGR 8.0%.

In recent years, automakers and tech giants are developing complex technologies that enable cars to drive themselves. Thus to implement self-driving features in cars, automakers implement powerful and advanced processors (system-on-chips) with self-driving cars. Thus such advance and updated technologies are majorly used in passenger cars than commercial vehicles. Therefore, adoption of such technology is set to register higher demand of automotive SoC in passenger car in coming years.

Competitive landscape

Many key automotive SoC manufacturers are inclined at investing heavily in innovation, research, and development practices to uncover increased applications of Automotive SoC. With the use of technology, players are also focusing on ensuring safety, quality, and customer satisfaction for captivating an increased customer base.

  • In February 2018, Renesas announced its new R-Car V3H system-on-chip (SoC), that delivers high computer vision performance and AI processing at industry-leading low power levels, targeting automotive front cameras for use in mass-produced Level 3 (conditional automation) and Level 4 (high automation) autonomous vehicles. R-Car V3H is a part of the open and innovative Renesas autonomy platform for Advanced Driver Assistance Systems (ADAS) and automated driving (AD).
  •  In January 2018, ON Semiconductor announced a strategic partnership with Audi AG to foster innovations along with quality, and make the latest technology available for Audi. In addition to offering advanced solutions to the latter, the company focuses on strengthening its position in the market.

Automotive SoC Market Report Scope

Attribute

Details

Market value in 2021

US$ 15,817 Mn

CAGR 2013-2021

6.5%

Share of top 5 players

Around 30%

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

USD Million for Value

Key regions covered

North America, Latin America,  Western Europe,  Eastern Europe,  China,  Japan,  SEA and other of APAC, and Middle East & Africa 

Key countries covered

US, Canada, Germany, U.K., France, Italy, sprain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, Northern Africa, and South Africa

Key market segments covered

  • Application
  • Vehicle Type
  • Region

Key companies profiled

  • Texas Instruments Incorporated
  • Infineon Technologies AG
  • Intel Corporation
  • NVIDIA Corporation
  • Qualcomm Technologies, Inc.
  • STMicroelectronics
  • NEC Corporation
  • NXP Semiconductors
  • ON Semiconductor Corporation
  • Renesas Electronics Corporation

Report coverage

Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives

Customization & pricing

Available upon request  

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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

Key Questions Answered in the Report

How much is the global Automotive SoC Market valued at?

The global automotive SoC market is valued at over US$ 15,817 Mn in 2021.
The factors such as advancements is automotive industry and increasing government initiatives and regulations towards electric vehicles is driving the automotive SoC market.
From 2013 to 2021, demand for automotive SoC increased at a CAGR of 6.5%.
Sales of automotive SoC are projected to increase at 7.8% CAGR and be valued at over US$ 26,800.5 Mn by 2028.
The U.K., U.S., India, China, and Germany are major demand countries for automotive SoC.

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