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 Million in 2022 to US$ 26,800.5 Million by 2028.
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 Million in 2022 to US$ 26,800.5 Million 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 the 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 the 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 Manufacturers (OEMs) and car manufacturer across the globe.
The automotive SoC market refers to the market for system-on-a-chip products used in the automotive industry. These products integrate multiple hardware and software components, such as microprocessors, memory, and input/output interfaces, into a single chip. They are used in a variety of automotive applications, including advanced driver assistance systems and infotainment systems. The market is expected to grow as the demand for advanced technologies in the automotive industry, such as autonomous driving and connected cars, increases.
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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 Million 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 manufacturers and the higher adoption of electric vehicles in the coming years. The infotainment system segment is set to register a higher market share 59.4% of the total automotive SoC market share in 2028.
Automotive SoC is an in-house or outsourced function that can investigate, monitor, and helps to improve the security posture of fleets. Automotive SoCs can be utilized in enhancing automated structures that offer a state-of-the-art experience to the driver or customer.
Key Takeaways from Automotive SoC Market Study
Key Drivers
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Key Restraints
Automotive SoC Market Survey by Category
By Application
By Vehicle Type
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
May 24, 2023