Autonomous Driving SoC Market to Reach $100.1 Billion, Globally, by 2033 at 10.6% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Autonomous Driving SoC Market by Level of Autonomy (Level 2, Level 3, Level 4 and Level 5), by Application (Adaptive Cruise Control (ACC), Lane Keeping Assistance System (LKAS), Traffic Jam Assist (TJA), Automated Parking System (APS), Others), and Vehicle Type (Passenger Vehicles and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2024-2033”. The global autonomous driving SoC market were valued at $36.8 billion in 2023 and is estimated to reach $100.2 billion by 2033, exhibiting a CAGR of 10.6% from 2024 to 2033.
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Prime determinants of growth
The global autonomous driving SoC market is experiencing growth due to several factors such as a advancements in AI and deep learning technologies, regulatory push for autonomous vehicles, and growing investments and partnerships. However, technological challenges and complexity, and high cost hinder market growth to some extent. Moreover, vertical integration and value-added services, and technological innovation and differentiation offers remunerative opportunities for the expansion of the global autonomous driving SoC market.
Segment Highlights
The demand for automotive SoCs in passenger vehicles is driven by the increasing integration of advanced driver assistance systems (ADAS) and infotainment systems. These SoCs enable features like adaptive cruise control (ACC) , lane-keeping assistance system (LKAS) , and automated parking systems (APS) , enhancing both safety and convenience for drivers. Consumer demand for enhanced safety features, connectivity, and entertainment options in vehicles is fueling the growth of automotive SoCs in passenger vehicles. Additionally, regulatory mandates for vehicle safety and emissions are pushing automakers to adopt more advanced technologies, further driving the demand for SoCs.
Commercial vehicles are increasingly incorporating advanced driver assistance and fleet management systems powered by automotive SoCs. These systems help improve efficiency, reduce operating costs, and enhance safety for commercial vehicle operators. The growth of e-commerce and logistics industries is a significant driver for the adoption of automotive SoCs in commercial vehicles. Fleet operators are investing in technologies like adaptive cruise control (ACC) and traffic jam assist (TJA) to optimize delivery routes, improve fuel efficiency, and ensure timely deliveries.
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Regional Outlook
North America, particularly the U.S., and Canada are advancing in the development and adoption of autonomous driving technologies, with major players like NVIDIA, Intel, and Qualcomm investing heavily in this sector. The presence of a robust automotive industry, supportive regulatory environment, and strong technological infrastructure contribute to the growth of the automotive SoC market in this region.
Players:
- NVIDIA Corporation
- Intel Corporation
- Qualcomm Technologies, Inc.
- Texas Instruments Incorporated
- Ambarella, Inc.
- MediaTek Inc.
- Renesas Electronics Corporation
- Xilinx, Inc.
- NXP Semiconductors N.V.
- Infineon Technologies AG
The report provides a detailed analysis of these key players in the global autonomous driving SoC. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In December 2023, Ambarella, Inc., a semiconductor company specializing in edge AI (Artificial Intelligence) introduced its autonomous driving (AD) software stack. This software stack is a collection of modular components designed to enable autonomous driving capabilities in vehicles. The stack is primarily powered by deep learning AI processing, which allows it to perform tasks such as environmental perception, sensor fusion, and vehicle path planning.
- On January 9th, Black Sesame Technologies, a prominent provider of intelligent vehicle System-on-Chip (SoC) solutions, unveiled several groundbreaking products and solutions during the CES 2024 event. Among the highlights were the introduction of their high-performance, automotive-grade autonomous driving chip, named the Huashan Series A1000, and their intelligent vehicle cross-domain computing platform, known as the Wudang C1200 Series.
- In September 2020, Li Auto Inc., one of the prominent player in China's new energy vehicle market announced a strategic partnership with NVIDIA Corporation, a global leader in artificial intelligence computing, and its Chinese partner, Huizhou Desay SV Automotive. This collaboration aims to integrate NVIDIA's next-generation autonomous driving smart chip, Orin SoC (System-on-a-Chip) , into Li Auto's full-size extended-range electric vehicles scheduled for launch in 2022
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