Wilmington, Delaware, Transparency Market Research Inc. –, Feb. 05, 2025 (GLOBE NEWSWIRE) — The automotive System-on-Chip (SoC) market was valued at US$54.50 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% between 2024 and 2034. By 2034, global sales are expected to exceed US$114.87 billion.
Automotive SoCs (Automobil-System-on-Chip (SoC)-Markt) are integral for enabling advanced features such as artificial intelligence (AI), machine learning, improved sensor processing, and autonomous driving capabilities. As vehicle connectivity increases, the risk of cybersecurity threats also grows, making SoCs with integrated security features essential for ensuring safe and secure onboard operations.
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Key Market Insights
- Vehicle Type: Passenger vehicles are anticipated to drive significant demand for automotive SoCs.
- Component Segment: Analog ICs are expected to lead market growth.
- Regional Dominance: The Middle East & Africa and South America are projected to hold substantial market shares during the forecast period.
- Application Segment: Connected passenger vehicles contributed significantly to the growth of the in-vehicle infotainment sector in 2023.
- Regional Performance: The Asia Pacific region led the global automotive SoC market.
Global Automotive SoC Market: Key Players
Manufacturers of automotive SoCs are developing new products to expand their product portfolios. Through acquisitions, partnerships, joint ventures, and collaborations, the companies also expand their global market share.
- Cadence Design Systems, Inc.,
- DENSO Corporation,
- Infineon Technologies AG,
- Intel Corporation,
- Marvell Technology,
- Microchip Technology Inc.,
- NEC Corporation,
- NVIDIA Corporation,
- NXP Semiconductors,
- ON Semiconductor Corporation,
- Qualcomm Technologies, Inc.,
- Renesas Electronics Corporation,
- Robert Bosch GmbH,
- STMicroelectronics,
- Telechips Inc.,
- Texas Instruments
Global Automotive SoC Market: Growth Drivers
- The automotive industry is undergoing a significant transformation driven by the increasing adoption of electric vehicles (EVs) and the demand for connected cars. Automotive systems on chips (SoCs) play a crucial role in enabling features such as advanced driver-assistance systems (ADAS), infotainment, and vehicle connectivity. One of the primary growth drivers for automotive SoCs is the heightened demand for safety features, including adaptive cruise control and lane departure warning systems, which require high-performance chips for complex data processing.
- The development of autonomous vehicles underscores the need for advanced processing capabilities. Real-time decision-making in autonomous driving scenarios makes automotive SoCs indispensable. As electric vehicles gain popularity, specialized SoCs are essential to manage unique requirements related to powertrains and battery systems.
- The pursuit of energy efficiency is another factor driving demand for automotive SoCs. The industry is increasingly adopting energy-efficient chips that reduce power consumption while maintaining optimal performance to enhance the range and efficiency of EVs. Given the rapid pace of technological advancements, semiconductor manufacturers must continuously adapt to meet the evolving demands for high performance, scalability, and feature-rich solutions.
Strategic Recommendations for Decision-Makers
For Automotive SoC Manufacturers:
- Invest in AI-Driven SoC Development – Autonomous driving will be the largest revenue stream for SoCs.
- Focus on Power Efficiency for EVs – Develop low-power, high-performance SoCs for battery optimization.
For Investors & Semiconductor Firms:
- High-Growth Segments to Watch – AI-driven ADAS SoCs, 5G vehicle connectivity chips, and cybersecurity-focused SoCs.
- Strategic Partnerships with Automakers & EV Startups – Collaborate on next-gen vehicle architectures.
For Automakers & OEMs:
- Adopt Software-Defined Vehicle SoCs – Reduce hardware dependencies and enable over-the-air (OTA) updates.
- Prioritize Cybersecurity SoCs – Future vehicles will require zero-trust security architectures.
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Global Automotive SoC Market: Regional Landscape
- The Asia Pacific region is expected to capture a significant share of the global automotive SoC market. Countries such as China, South Korea, Japan, and India are key contributors to automotive manufacturing in the region. As vehicle production rises, the need for cutting-edge technologies, including SoCs for connectivity, electrification, and ADAS, will grow.
- Efforts to reduce dependence on fossil fuels have led many Asia Pacific countries to adopt electric vehicles. The development and production of EVs require specialized SoCs to manage power distribution, battery systems, and other EV-specific functions. Additionally, the region is witnessing rapid advancements in autonomous driving technologies. Countries like China are heavily investing in the development of autonomous vehicles, which necessitate high-performance sensors and sophisticated processing capabilities, making automotive SoCs integral to this progress.
- Government regulations aimed at reducing emissions and enhancing vehicle safety are also accelerating the adoption of advanced technologies. Automotive SoCs are frequently incorporated into vehicles to meet these regulatory requirements. Moreover, consumer preferences in the Asia Pacific are evolving, with a growing demand for advanced features such as smart infotainment systems, enhanced safety functionalities, and connected services.
- As urbanization expands in the region, smart city initiatives are becoming increasingly prominent. Smart vehicles, powered by modern automotive SoCs, are poised to play a vital role in shaping the future of transportation by enabling internet connectivity and autonomous driving capabilities.
Why This Report Matters for Business Leaders
- Data-Driven Market Insights – Covers growth projections, competitive landscape, and emerging trends.
- Strategic Action Plan – Practical recommendations for manufacturers, investors, and automotive OEMs.
- Technology Roadmap – Highlights AI, 5G, and cybersecurity innovations in the Automotive SoC industry.
- Emerging Business Opportunities – Focus on EVs, smart connectivity, and autonomous driving.
Report Highlights:
- Extensive Market Data: Independent analysis of annual sales and market projections in US$ Million from 2024 to 2034.
- Comprehensive Regional Insights: In-depth analysis of key regions, including the U.S., China, Japan, Germany, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
- Company Profiles: Detailed coverage of leading industry players such as NVIDIA, Qualcomm, Renesas Electronics Corporation, Infineon Technologies, and Texas Instruments.
- Free Annual Updates: Enjoy complimentary report updates for one year, ensuring you stay up-to-date with the latest market trends.
Global Automotive SoC Market: Segmentation
By Component
- Analog ICs
- Microcontroller
- Logic ICs
- Memory
- ECU
- Others
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Duty Trucks
- Bus & Coach
By Application
- Advanced Drive Assist System (ADAS)
- In-Vehicle Infotainment
- Cockpit & Dashboard
- Others
By Region
- North America
- Central and South America
- Europe
- Asia Pacific
- Middle East & Africa
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Key Questions Addressed:
- How will the Global Automotive SoC Market develop by 2034?
- What are the primary factors driving and restraining market growth?
- Which market segments (e.g., electric vehicles, autonomous driving, infotainment systems) are expected to experience the highest growth during the forecast period?
- How will regional and segment market shares shift by 2034?
- Who are the key market players, and what are their future prospects in the Automotive SoC market?
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