Automotive SoC Market

Global Automotive SoC Market is valued at USD 38.47 Billion in 2022 and is expected to reach USD 77.98 Billion by 2029 with a CAGR of 10.62% over the forecast period.

Global Automotive SoC Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Growing demand for electric vehicles, rising investments in innovation, and research development in automotive SoC and supportive government initiatives for the production of electric vehicles are major factors anticipated to drive the growth of the Global Automotive SoC Market within the forecast period.

Scope–

The in-house or outsourced function that investigates, monitors to improve the security posture of fleets is known as automotive SoC. Automotive SoCs can be used in enhancing automated structures that proposals state-of-the-art experience to the driver or customer. System-on-Chips support scale, geolocation, connectivity, protocols, and backdating processing. The technology is used infotainment systems, advanced driver-assistance systems (ADAS), intelligent transport systems, in-vehicle networking system and connected vehicle platform.

The Covid-19 pandemic has negatively impacted the Global Automotive SoC Market, resulting in a decrease in demand for new cars and SoCs due to economic uncertainty and supply chain disruptions. However, the pandemic has also driven innovation in the market with a focus on safety, sustainability, and affordability, leading to long-term changes in consumer behavior and demand.

The global automotive SoC market is segmented on the basis of vehicle type, application, and region & country level. On the basis of vehicle type, the global automotive SoC market is segmented into passenger cars and commercial vehicles. On the basis of  application, the market is segmented into infotainment systems, advanced driver-assistance systems (ADAS), and others.

The regions covered in global automotive SoC market report are North America, Europe, Asia-Pacific, Latin America, and Rest of the World. Based on country level, the market of global automotive SoC market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, Southeast Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.

Key Players-

Some of the key players for global automotive SoC market are -

• Infineon Technologies
• ON Semiconductor
• NVIDIA Corporation
• NXP Semiconductors
• STMicroelectronics
• Qualcomm
• Intel
• Renesas
• Texas Instruments
• Robert Bosch GmbH
• others

Segmentation-

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

By Application:

• Infotainment Systems
• Advanced driver-assistance systems (ADAS)
• Others

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Growing Demand for Electric Vehicles, and Supportive Government Initiatives for the Production of Electric Vehicles are Major Factors Anticipated to Drive the Market Growth

One of the major factors driving the growth of the global automotive SoC market is the growing demand for electric vehicles. For instance; according to the U.S. Department of Energy electric vehicle sales reported for 73% of 2021 which doubled from 308,000 in 2020 to 608,000 in 2021. The system-on-chip (SoC) is the single most powerful electrical component in the car that accomplishes every aspect of its domain while at the same time ensuring safe and secure operation. In addition, rising  investments on innovation, and research & development in this field is also supplementing the market growth. The players of automotive SoC manufacturers investing heavily on research, and development practices to discover applications of automotive SoC which is fueling future market growth.

Moreover, supportive government initiatives for the production of electric vehicle are also boosting the market growth. The government is focused to reduce the greenhouse emissions and help nature restore to its extreme purity such as initiatives towards switching to electric vehicles from the fuel vehicles. Such government initiatives are enhancing the production of electric and hybrid vehicles, further augmenting the growth of automotive SoC market worldwide.

However, high cost of automotive SoC may hamper the growth of the global automotive SoC market. In spite of that, growing demand for luxury commercial vehicles may create investment opportunities for the further growth of the global automotive SoC market.

North America is Expected to Dominate the Global Automotive SoC Market

North America is expected to dominate the global automotive SoC market due to the presence of car manufacturers, high adoption of electric vehicles and rising investments in this field in this region. The presence of leading car manufacturers and their strategies such as partnerships, and product launches are boosting the market growth in this region. For example; in May 2020; 3MP OX01E10 SoC, an automotive SoC for entry-level rear-view cameras launched by OmniVision Technologies, Inc. In addition, the high adoption of electric vehicles also contributes to the growth of the market in this region. For instance; 320,000 electric vehicles were sold in 2019 as per the International Council on Clean Transportation.

Asia Pacific is the fastest-growing region in the global automotive SoC market due to the growing automotive industry in Japan, China, and India, rising initiatives by the government for the adoption of electric vehicles, and R & D activities by players in this region. The governments in this region are taking steps to promote increased usage of electric vehicles which is further fostering the market growth. For instance; the Government of India is going to provide subsidies for 10 lakh electric two-wheelers, 55000 electric cars, 5 lakh electric three-wheelers, and 7000 electric buses.

News-

Omnivision Launched Automotive SoC for Entry-Level Rearview Cameras With Industry’s Best Low-Light Performance, Lowest Power and Smallest Size

On May 5^th, 2020; OMNIVISION Technologies, Inc., announced its 1.3MP OX01E10 SoC, providing automotive designers with the industry’s best imaging performance for entry-level rearview cameras (RVC) across a wide range of challenging lighting conditions, along with the most compact form factor and lowest power consumption. In a single, 1/4” optical format package, the OX01E10 integrates a 3 micron image sensor and an advanced image signal processor (ISP), enabling designers to achieve a small form factor with excellent low-light performance, ultra-low power and reduced cost while improving reliability by using only one printed circuit board (PCB). Additionally, the OX01E10 provides two onscreen display overlay layers for driver guidelines, as well as distortion correction to straighten any curved edges from lenses with a wide viewing angle.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2022:	USD 38.47 Billion
Base year considered	2021
Forecast Period CAGR %:	10.62%
Market Size Expected in 2029:	USD 77.98 Billion
Tables, Charts & Figures:	175
Pages	300
Companies:	Infineon Technologies, ON Semiconductor, NVIDIA Corporation, NXP Semiconductors, STMicroelectronics,  Qualcomm, Intel, Renesas, Texas Instruments,  Robert Bosch GmbH and others
Segments Covered	By Vehicle Type, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa.