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Automotive System-on-Chip (SoC) is a highly advanced integrated circuit designed specifically for use in automobiles. It combines a microprocessor, memory, communication interfaces, and peripheral devices onto a single chip, making it an efficient and powerful solution for modern cars that require advanced computing power to handle tasks like infotainment systems, advanced driver assistance systems (ADAS), and autonomous driving. The increasing demand for these SoCs is driven by the need for better performance, safety, and reliability in automotive systems. To ensure that they meet these requirements, SoC designers must consider various factors, including withstanding harsh automotive environments, extreme temperatures, vibrations, and electromagnetic interference.
Furthermore, the design of these SoCs must comply with stringent safety standards and regulations to ensure that they do not compromise the safety of passengers or other road users. As such, the development of Automotive SoCs requires a high degree of expertise and precision to deliver optimal performance, reliability, and safety in the most demanding of automotive environments.
The Automotive System-on-Chip (SoC) market is experiencing rapid growth, fueled by two major factors: the demand for high-end, fully automated cars and the technological advancements in the automotive industry. The increasing demand for cars with advanced features like ADAS, infotainment systems, and connected car technologies necessitates high-performance computing capabilities that are made possible by advanced SoCs. Additionally, the automotive industry's focus on safety and security features in automobiles is driving the demand for SoCs. These chips are designed to integrate multiple functions and components into a single chip, providing enhanced security and reliability compared to traditional automotive systems.
The development of autonomous vehicles is another significant driver of the SoC market's growth. Self-driving cars require complex computing systems and advanced sensors, which can be enabled by high-performance SoCs. The demand for Automotive SoCs is therefore driven by the increasing demand for advanced features and technologies in cars, as well as the growth of autonomous vehicles.
As the automotive industry continues to evolve, the demand for SoCs is expected to grow even further. The industry is moving towards fully autonomous, connected vehicles, which will require even more advanced computing capabilities. To meet these demands, SoC designers and manufacturers must continue to innovate and develop new technologies that provide higher levels of performance, reliability, and security in harsh automotive environments.
Automotive SoC manufacturers have a significant market opportunity as autonomous driving technology advances. These SoCs are crucial components in powering the sensors and processing units required for self-driving cars. Additionally, the growing demand for advanced infotainment features such as large touchscreen displays, high-quality audio systems, and connectivity options is creating a market opportunity for Automotive SoC manufacturers. The increasing sophistication of ADAS technology, which includes lane departure warnings, adaptive cruise control, and blind-spot monitoring, is also creating a market opportunity for these manufacturers. With the shift towards electric and hybrid vehicles, Automotive SoCs are essential for optimizing power management and control systems, thus creating new opportunities. Furthermore, as connected car technology evolves, Automotive SoCs will play a vital role in enabling features such as vehicle-to-vehicle communication, real-time traffic updates, and remote vehicle control.
Designing and manufacturing complex System-on-Chips (SoCs) for the automotive sector incurs substantial development costs. These expenses encompass not only the creation of the chip but also the validation and testing procedures necessary to ensure its dependability and safety. Moreover, the automotive industry is bound by stringent regulations governing safety and security that demand adherence to particular standards, making compliance a time-consuming and costly process. find grammatical error.
The automotive sector is characterized by fragmentation as various manufacturers adopt different technologies and standards, making it difficult for SoC manufacturers to create products that are compatible with all automotive systems. The Automotive Grade Linux (AGL) initiative and other standardization efforts aim to address this challenge, but it persists. Additionally, the automotive industry is subject to extensive regulation, with stringent safety and emissions requirements that SoC manufacturers must satisfy, resulting in increased costs and development complexity.
The report provides in-depth analysis of the Automotive SoC Market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for Automotive SoC in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
The Automotive SoC Market comprises of different market segments like, Vehicle type, Component, Application and geography
By Vehicle Type, Automotive SoC Market include key segments like
The Automotive SoC Market is categorized into Passenger Cars and Commercial Vehicles based on vehicle type. The passenger car segment is expected to hold the largest market share in 2022 during the forecast period. This growth is attributed to the availability of innovative automotive solutions that provide safety-critical applications and automated driving solutions. Additionally, the market growth is driven by the rising demand for high bandwidth and other connectivity features needed for Advanced Driver Assistance Systems. In December 2022, Renesas Electronics Corporation, a leading supplier of advanced semiconductor solutions, launched the R-Car V3U, an exclusive ASIL D system on chip (SoC) designed for Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) systems. Thus, the Automotive SoC Market is expected to grow due to the increasing need for enhanced functional safety and the potential development of automated driving.
By component, Automotive SoC Market includes key segments like
The use of microcontrollers in automotive applications, including engine control, powertrain, safety systems, and infotainment systems, is becoming increasingly popular, and their demand is expected to grow with the rise of electric vehicles and vehicle connectivity. Additionally, advancements in microcontroller technology, such as the development of low-power and high-performance microcontrollers, will further boost the automotive System-on-Chip (SoC) market.
Analog Integrated Circuits (ICs) are utilized in various automotive applications, such as power management, amplification, and signal processing, and their demand is predicted to increase with the growing need for Advanced Driver Assistance Systems (ADAS) and electric vehicles. Analog ICs with high accuracy, low noise, and low power consumption will be highly sought-after in the automotive SoC market. Logic ICs are also crucial components in automotive applications, such as infotainment systems, navigation systems, and safety systems. As demand for advanced features in these systems increases, the need for logic ICs is expected to surge. Logic ICs with high processing power and low power consumption are likely to be in high demand in the automotive SoC market. Memory plays a vital role in storing data and program code in automotive applications. With the increasing demand for data storage and processing, memory demand will also rise. High-speed and low-power memory solutions, such as NAND flash and DDR SDRAM, will be highly sought-after in the automotive SoC market. ECUs are also essential components in various automotive applications, such as engine control, transmission control, and safety systems. The demand for advanced ECUs with high processing power and connectivity features is expected to increase, driven by the growing trend of vehicle electrification and advanced safety systems. Other components that will experience significant demand in the automotive SoC market include sensors, power management ICs, and communication ICs. Sensors provide real-time data on the vehicle's environment, and power management ICs manage power distribution in the vehicle. Communication ICs provide connectivity between different systems in the vehicle. the automotive SoC market is poised for significant growth in the coming years due to the increasing demand for ADAS, electric vehicles, and connected cars. The demand for components such as microcontrollers, analog ICs, logic ICs, memory, ECUs, and others will surge as automotive applications become more advanced and complex.
Automotive SOC Market finds major application in
The automotive System on Chip (SoC) market is anticipated to experience substantial growth due to the surge in demand for advanced driver assistance systems (ADAS) and in-vehicle infotainment systems (IVI). Additionally, the emergence of electric and hybrid vehicles and the rising trend of connected cars are expected to contribute to the market's growth. The ADAS sector is projected to hold a significant market share in the automotive SoC market, as these systems are becoming standard features in modern vehicles. ADAS systems are designed to improve safety, reduce accidents, and enhance the driving experience by assisting drivers with tasks such as collision avoidance, lane departure warnings, and automatic emergency braking. Likewise, the IVI segment is expected to grow significantly, driven by the increasing demand for advanced entertainment and connectivity features in modern vehicles. In-vehicle infotainment systems include navigation, multimedia, connectivity, and communication, and are becoming increasingly important in the automotive industry. Furthermore, the cockpit and dashboard segment is anticipated to be another crucial factor in the automotive SoC market's growth, as these systems are crucial components of modern vehicles. They are designed to provide drivers with vital information such as fuel level, speed, and navigation, as well as other features such as climate control, entertainment, and connectivity. The powertrain and chassis control systems, among other applications of automotive SoCs, are also expected to grow in the coming years. The increasing demand for electric and hybrid vehicles, which require sophisticated control systems to manage their complex powertrains, is driving this growth.
By Geography Automotive SoC market is studied for the following region
The demand for advanced driver assistance systems (ADAS), connected cars, and electric vehicles is predicted to drive significant growth in the automotive System on Chip (SoC) market. Geographically, the Asia-Pacific region, specifically China and India, is expected to see substantial growth due to their expanding automotive industries and increasing demand for electric vehicles. The presence of major automotive manufacturers and their emphasis on ADAS and connected cars is expected to lead to growth in North America and Europe. The adoption of autonomous vehicles is predicted to further drive the market, particularly in regions like North America and Europe. Overall, the global automotive SoC market is expected to experience substantial growth, with the Asia-Pacific region leading the way.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the Automotive SoC market. In addition, a complete analysis of changes on the Automotive SoC market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of the pandemic on Global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The COVID-19 pandemic has had a significant impact on the global automotive industry, including the automotive System-on-Chip (SoC) market. The pandemic led to a temporary shutdown of manufacturing facilities and disrupted global supply chains, causing a decline in vehicle sales and production volumes.
The automotive SoC market, which includes components such as microcontrollers, memory devices, and sensors, also experienced a decline in demand in 2022However, the automotive industry is now recovering from the initial impact of the pandemic, and the demand for automotive SoCs is expected to grow in the coming years. The increasing adoption of electric vehicles (EVs) and advanced driver assistance systems (ADAS) is driving the demand for advanced SoCs that can support the high computational requirements of these systems. Furthermore, the increasing focus on connected cars and autonomous driving is expected to create significant opportunities for the automotive SoC market. SoCs are critical components in the development of advanced vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems, which are essential for enabling autonomous driving and improving road safety. The COVID-19 pandemic had a temporary negative impact on the automotive SoC market, but the market is expected to recover and grow in the coming years due to the increasing adoption of EVs, ADAS, and autonomous driving technologies.
The competitive landscape analysis of the Automotive SoC market is majorly focused on expanding the Global growth of the Automotive SoC industry with new product innovation, and business expansion, the increasing presence of a range of manufacturers operating in the Automotive SoC sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required consumer demand, further contributing to healthy growth in the market.
The key players studied in market are
November 2020: the collaboration between Hyundai Motor Group and NVIDIA Corporation resulted in the launch of NVIDIA DRIVE, a platform that combines audio, video, navigation, connectivity, and AI-based services to create a connected car infotainment system for Hyundai Motor Group's IVI systems.
May 2020: OmniVision Technologies, Inc. launched the 1.3MP OX01E10 SoC, an automotive System-on-Chip designed for entry-level rearview cameras. The SoC offers industry-leading low-light performance, the lowest power consumption, and a compact size. OmniVision Technologies, Inc. is a prominent developer of advanced digital imaging solutions.
The passenger vehicle sector was the biggest contributor to the market in 2022, and it is predicted to continue leading during the forecast period. Furthermore, light commercial vehicles and trucks are anticipated to experience considerable growth, attributed to the growing requirement for efficient transportation and logistics.In terms of components, microcontrollers had the most significant market share in 2022 due to their extensive use in automotive System-on-Chips (SoCs). Analog ICs and Logic ICs are also projected to have substantial growth, credited to the increasing adoption of advanced driver assistance systems (ADAS) and in-vehicle infotainment systems (IVI). Regarding application, ADAS dominated the market share in 2020, and it is expected to continue doing so in the future. This is because it enhances safety and reduces accidents on roads. Additionally, IVI and cockpit & dashboard are likely to experience considerable growth as there is a rising demand for advanced entertainment and connectivity features in vehicles.
Geographically, Asia-Pacific had the highest market share in 2022, owing to the presence of major automotive manufacturers and suppliers in the region, especially in China and Japan. North America and Europe are also projected to witness significant growth due to the increasing demand for connected and autonomous vehicles and the presence of leading automotive technology providers in these regions.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD million |
| Market
Segment studied: | Vehicle Type Component Application |
| Market
Players and its Competitors: |
Texas Instruments Incorporated Renesas Electronics Corporation Mitsubishi Electric Corporation |
