Automotive SoCs, as considered under the scope of the report, is adopted by various automotive manufacturers across all types of vehicle types for offering a seamless driving experience to the end-user. Besides this, the introduction of electric and hybrid vehicles is the primary factor impelling the growth of the Global Automotive SoCs market, in terms of value.
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The Global Automotive SoCs market is estimated to be valued at US$ 12,007.6 Mn by the end of 2017, and is expected to expand in the coming years at a CAGR of 7.7% in terms of value over the forecast period. The global Automotive SoCs market is expected to represent a high incremental opportunity between 2018 and 2028.
On the basis of application, the Global Automotive SoCs market can be segmented into infotainment systems, ADAS, and others. The infotainment system segment is expected to account for a sizable share of the overall Automotive SoCs market by the end of the forecast period. Increasing demand for enhanced automated and multifunction entertainment systems is fuelling the demand for infotainment systems, which as a result, furthermore, is expected to drive the growth of the segment. Increasing awareness about the security and assistance required during driving for enhancing the safety of the end-user is a factor boosting the adoption of ADAS system in an automobile. Owing to this, ADAS sub-segment of application segment, in the global automotive SoCs market, is expected to witness a significantly higher CAGR, during the forecast period. On the basis of vehicle type, the automotive SoCs market is categorised on the basis of passenger cars and commercial vehicles.
The growth of the Automotive SoCs market is predominantly driven by the adoption of advanced technologies, transitioning consumer spending behaviour and increasing economic growth of the developing economies of South East Asia & Others of APAC, Middle East & Africa and China. However, the high cost associated with the implementation of automotive SoCs is a major factor challenging the growth of automotive SoCs market, in terms of value.
The North America Automotive SoCs market holds a major value share in the global automotive SoCs market and is likely to maintain its dominance in the global Automotive SoCs market over the forecast period. The Automotive SoCs market in the region is projected to represent a significant incremental opportunity between 2018 and 2028. Increasing implementation of advanced automotive systems such as infotainment systems by the automotive OEMs of the region, is expected to support the growth of the North America Automotive SoCs market during the forecast period.
SoC chip (System-on-Chip) is a semiconductor product which enables multiple complex advanced features individually, by eliminating the need of installing multiple ICs. One of the major application area of a SoC chip lies in automotive industry i.e. automotive SoCs. Application of automotive SoCs has enables automobile OEMs/manufacturers to incorporate advanced, partially/complete automated systems to offer a seamless experience to the end-user. Thus, owing to the advantages associated with automotive SoCs, and a demand for an enhanced driving experience, a high traction of automotive SoCs is expected during the forecast period, especially in developing countries such as India, China, etc. The SEA and Others of APAC region is expected to present attractive opportunities for Automotive SoCs manufacturers followed by China. The Automotive SoCs market in SEA and Others of APAC is estimated to expand at a significant CAGR in terms of value over the forecast period. The sales of Automotive SoCs in Western Europe market is projected to represent a total incremental opportunity of US$ 2,903.4 Mn, while the MEA Automotive SoCs market is also expected to witness significant growth.
Vendors in the Automotive SoCs market are now focusing on the introducing advanced innovative SoC chips and expanding their sales channel across the globe. Examples of some of the Automotive SoCs market vendors in this study of the Global Automotive SoCs market include Texas Instruments Incorporated, Infineon Technologies AG, Intel Corporation, NVIDIA Corporation, Qualcomm Technologies, Inc., STMicroelectronics, NEC Corporation, NXP Semiconductors, ON Semiconductor Corporation, and Renesas Electronics Corporation.
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