Automotive SoC Global Market Report 2024

The automotive soc market size has grown strongly in recent years. It will grow from $24.99 billion in 2023 to $27.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historical period can be attributed to the rising complexity in automotive electronics, the adoption of Advanced Driver Assistance Systems (ADAS), integration of infotainment systems, development of electric and hybrid vehicles, and a focus on safety and regulatory compliance.

The automotive soc market size is expected to see strong growth in the next few years. It will grow to $38.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period can be attributed to autonomous vehicle technology, Vehicle-to-Everything (V2X) communication, e-mobility and battery management, the development of the connected car ecosystem, and the increasing cybersecurity requirements. Major trends expected in the forecast period include the integration of advanced sensor interfaces, advancements in heterogeneous computing architectures, an emphasis on cybersecurity in automotive System-on-Chips (SoCs), the adoption of functional integration and consolidation, and a focus on over-the-air (OTA) software updates.

The surge in global demand for electric vehicles is anticipated to drive the growth of the automotive System-on-Chip (SoC) market in the coming years. Electric vehicles, which rely entirely or partially on electric power for propulsion, are becoming increasingly popular due to their eco-friendly nature and reduced dependence on conventional combustion engines. Automotive SoCs play a crucial role in electric cars, contributing to their efficiency, interactivity, and safety. The growth in electric vehicle adoption is expected to lead to an increased demand for automotive SoCs, thereby propelling market growth. For instance, a report from the International Energy Agency in May 2022 highlighted that sales of electric cars, including fully electric and plug-in hybrids, doubled in 2021, reaching a record of 6.6 million units. The total number of electric cars on the world's roads by the end of 2021 was approximately 16.5 million. This growing trend underscores the rising prominence of electric vehicles in the automotive market. Consequently, the surge in electric vehicle demand is a key driver behind the growth of the automotive SoC market.

The rise of autonomous vehicles is a significant factor contributing to the growth of the automotive System-on-Chip (SoC) market. Autonomous vehicles, capable of operating without human intervention, rely on advanced technologies to process complex data, make real-time decisions, and navigate their surroundings. Automotive SoCs play a crucial role in this context by integrating multiple processing units, sensors, and memory components onto a single chip. This integration enhances the efficiency of computing tasks, supporting the intricate computations required for autonomous driving. As per insights from Gerber Injury Law and Carsurance, the production of self-driving cars is anticipated to reach 800,000 units globally between 2023 and 2030. Furthermore, the autonomous vehicle industry is expected to experience a yearly growth rate of 16%. These projections underscore the increasing prominence of autonomous vehicles in the automotive landscape. Consequently, the advent of autonomous vehicles is a key driver fueling the growth of the automotive SoC market.

Product innovations stand out as a prominent trend in the automotive System-on-Chip (SoC) market. Notably, leading companies within this market are dedicated to the development of cutting-edge technological solutions to reinforce their market positions. An illustrative example of this trend is the launch of the Snapdragon Ride Flex by Qualcomm Technologies Inc. in January 2023. This release marks a significant milestone as the automotive industry's inaugural scalable family of SoCs. The Snapdragon Ride Flex is specifically engineered to support both the digital cockpit and advanced driver assistance systems concurrently. Its distinctive feature lies in its pre-integration with the Snapdragon Ride Vision stack, demonstrating a cohesive integration of hardware and software. This integration is tailored for functionalities such as computer vision, artificial intelligence, and efficient power consumption. The aim is to deliver optimal performance in a mixed-criticality scenario, emphasizing the product's adaptability and advancements in automotive SoC technology.

Prominent players in the automotive System-on-Chip (SoC) market are actively engaged in the development of innovative products, particularly focusing on the creation of secure and high-performance computing platforms tailored for automotive applications. A noteworthy example is NXP Semiconductors N.V., a leading semiconductor manufacturer and technology company based in the Netherlands, which introduced the bluebox 3.0 development platform in January 2021. This platform incorporates the NXP S32G processor, delivering a secure car networking solution alongside reliable safety processing and verification capabilities. The bluebox 3.0 is designed as an open and scalable platform, allowing modularization to enhance traffic and sensor modeling and facilitate safe autonomous driving. It provides comprehensive training sessions and informative resources detailing both hardware and software architecture, with a focus on applicable use cases. The platform's versatility is underscored by its broad expansion possibilities, supporting prototyping for various setups and connections to diverse Electronic Control Units (ECUs) and sensors.

In February 2021, Royal Dutch Shell PLC, a Netherlands-based oil and gas company, successfully acquired Ubitricity Mobile GmbH for an undisclosed amount. This strategic acquisition is aimed at diversifying the range of electric vehicle (EV) charging options offered by Shell, contributing to a reduction in carbon emissions. The move is part of Shell's commitment to providing customers with increased low-carbon transportation choices and facilitating the transition to more sustainable transportation through the provision of public on-street charging for electric vehicles (EVs). Ubitricity Mobile GmbH, headquartered in Germany, specializes in providing electric vehicle (EV) charging solutions.

Major companies operating in the automotive soc market report are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Intel Corporation, Denso Corporation, Qualcomm Technologies Inc., Broadcom Inc., Toshiba Electronic Devices & Storage Corporation, NVIDIA Corporation, NEC Corporation, Advanced Micro Devices Inc., Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc. (ADI), Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Inc., Marvell Technology Inc., Cadence Design Systems Inc., Cypress Semiconductor Corporation, Himax Technologies Inc., Nordic Semiconductor ASA, Lattice Semiconductor Corporation, Faraday Technology Corporation, Ambarella Inc., Telechips Inc., Infotmic Co. Ltd., Fujitsu Semiconductor Limited, Hyundai Autron Co. Ltd.

Asia-Pacific was the largest region in the automotive SoC market in 2023. The regions covered in the automotive soc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive soc market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary offerings within automotive SoCs encompass hardware, software, and associated services, predominantly applied across passenger cars and commercial vehicles. Hardware represents the physical components necessary for the operation of a computer system. These components find utilization in various applications including infotainment systems SoCs, Advanced Driver Assistance Systems (ADAS), intelligent transport systems, in-vehicle networking systems, and connected vehicle platforms.

The automotive SoC market research report is one of a series of new reports that provides automotive SoC market statistics, including automotive SoC industry global market size, regional shares, competitors with a automotive SoC market share, detailed automotive SoC market segments, market trends and opportunities, and any further data you may need to thrive in the automotive SoC industry. This automotive SoC market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive SoC market consists of revenues earned by entities by providing services such as gathering data, central protection solution. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive SoC market also includes sales of processor cores, hardware logic and peripherals which are used in providing automotive SoC services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.