Press release
Global Automotive SoC Market Forecast 2021-2031 - Market Size, Drivers, Trends, And Competitors
Market Overview:
The automotive SoC market is navigating a landscape shaped by a complex interplay of factors. Improvements in automobile demand sentiments post-COVID-19 are anticipated to drive growth, yet potential security breaches due to communication technologies pose risks. Cybersecurity, especially in autonomous vehicles, is gaining prominence as infotainment and IoT-connected applications become integral to vehicle interiors.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=80445&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Electrification of vehicles is a key driver, propelled by global increases in disposable income and automotive giants launching affordable, tech-savvy vehicles. Companies are unlocking revenue opportunities through innovations in Advanced Driver Assistance Systems (ADAS) and infotainment systems. However, the chip shortage, exacerbated by the COVID-19 crisis, is impacting market growth, prompting automotive companies to adopt contingency planning.
Next-gen Automotive Safety Technologies:
Manufacturers are ramping up output capabilities in components such as logic ICs, analog ICs, microcontrollers, and Electronic Control Units (ECUs). These components find extensive application in automotive safety technologies, including Electronic Stability Programs (ESP) and Antilock Braking Systems (ABS). Government regulations in mature markets are driving the incorporation of these safety features, contributing to the growth of the automotive SoC market.
Regional Outlook:
Asia Pacific leads the market, with countries like China, Japan, India, and South Korea driving expansion. The region's dominance is attributed to advanced research and development facilities and manufacturing hubs for automotive SoCs. China, in particular, stands out as a major automotive hub, reflecting a paradigm shift in consumer preferences towards connected features.
Middle East & Africa and South America are emerging regions, witnessing growth in the automotive industry. Rising vehicle sales and the presence of large manufacturing plants are propelling the market in these regions.
Challenges and Opportunities:
While rising demand for connected, autonomous, and semi-autonomous vehicles offers growth opportunities, challenges persist. The cost of SoCs, especially in autonomous and ADAS-based vehicles, remains a hindrance. Moreover, a lack of awareness among consumers and repair shops about these new technologies slows down full-fledged adoption.
The ongoing COVID-19 pandemic, climate conditions affecting production, and geopolitical factors like the U.S.-China trade war contribute to uncertainties. However, the adoption of electric mobility solutions and the increasing demand for connected features are expected to drive the market in the coming years.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=80445<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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