PUBLISHER: Allied Market Research | PRODUCT CODE: 1566913
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566913
The autonomous driving system-on-chip (SoC) market was valued at $36.8 billion in 2023, and is projected to reach $100.1 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.
Autonomous driving system-on-chip (SoC) is a powerful integrated technology that plays a critical role in enabling autonomous functionalities. Autonomous driving SoCs enable vehicles to perceive their surroundings, interpret data from various sensors, and make autonomous navigation decisions. This integration not only enhances the efficiency and reliability of autonomous driving systems but also reduces power consumption and cost, making it a pivotal technology for smart, self-driving cars.
The growth of the global autonomous driving system-on-chip (SoC) market is driven by increase in demand for autonomous vehicles and heightened focus on integrating functional safety features into SoCs to ensure reliable and safe operation in autonomous driving applications. This is crucial for ensuring that ADAS systems operate safely and effectively under various conditions. With increasing installation of this system in vehicles, the risk of accidents is expected to decline drastically. According to a recent study conducted by the American Automobile Association (AAA) Foundation for Traffic Safety and the University of North Carolina, ADAS is likely to prevent approximately 37 million crashes and 14 million injuries in the coming 30 years, stretching from 2021 to 2050. Furthermore, increase in implementation of 5G networks and vehicle-to-everything (V2X) communication systems to support real-time data exchange for autonomous driving boosts the demand for SoCs. Moreover, rise in penetration of electric vehicles, which often incorporate advanced technology, complements the development of autonomous driving systems, increasing the demand for efficient SoCs. However, developing advanced SoCs with the necessary processing power and functionality for ADAS involves significant R&D investment, which acts as a barrier for the market growth. In addition, complexities associated with integration of multiple ADAS functionalities into a single SoC to ensure reliability and performance hamper the market growth. On the contrary, significant investment and R&D efforts are being directed toward the advancement of autonomous driving SoCs, which are expected to drive innovation and accelerate the market's growth. Manufacturers are focusing on developing smaller process nodes, such as 5nm and below, that will allow for more transistors on a chip, improving performance and efficiency while reducing the physical size of the SoC. Such developments are anticipated to open new avenues for the expansion of the global market during the forecast period.
The global autonomous driving SoC market is segmented into vehicle type, level of autonomy, application, and region. On the basis of vehicle type, the market is divided into passenger vehicles and commercial vehicles. As per level of autonomy, it is segregated into level 2, level 3, level 4, and level 5. By application, it is segregated into adaptive cruise control (ACC), lane keeping assistance system (LKAS), traffic jam assist (TJA), automated parking system (APS), and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of vehicle type, the passenger vehicles segment is expected exhibit notable growth by 2033.
Depending on level of autonomy, the level 5 segment is anticipated to dominate the market during the forecast period.
By application, adaptive cruise control (ACC) is projected to emerge as a leading segment in the coming years.
Region wise, Europe is likely to lead the market in the near future.
Competition Analysis
Competitive analysis and profiles of the major players in the global autonomous driving SoC market include NVIDIA Corporation, Intel Corporation, Qualcomm Technologies, Inc., Texas Instruments Incorporated, Ambarella Inc, MediaTek Inc., Renesas Electronics Corporation, Xilinx, Inc., NXP Semiconductors N.V., and Infineon Technologies AG. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.
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