The automotive infotainment SoCs market is capturing a valuation of USD 18.2 billion in 2023 and is predicted to reach USD 40.1 billion by 2033. The market is registering a CAGR of 8.2% during the forecast period. The market is driven by several factors, including:
Cybersecurity Concerns and High Costs Limit the Market Growth
Apart from influencing factors, the market has several restraining factors that may limit market growth. These are:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 8.2% |
| Market Valuation (2023) | USD 18.1 billion |
| Market Valuation (2033) | USD 40.1 billion |
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The market is notably growing due to its various features, including video, connectivity, voice recognition, etc. According to Future Market Insights, the market was valued at USD 13.4 billion in 2018 and is expected to reach USD 40.1 billion by 2033.
The growing consumer demand for automotive infotainment testing in Asia is capturing a relevant share by 2033. The rising consumers demand luxury and premium vehicles with amazing automatic dashboard features is surging the market size. The increasing demand for connected cars, present manufacturers, and the huge population are driving the market growth in Asia Pacific countries.
Based on vehicle type, passenger cars dominate the global market by capturing a maximum share of 81.2% during the forecast period. Passenger cars are widely growing due to the increasing population and rising number of passengers for traveling purposes.
There is growing public transportation from various passenger cars, including SUVs, sedans, and others. These cars are stylish, comfortable, and convenient, bolstering the market growth.
The Commercial vehicle is another category capturing a significant share during the forecast period. These commercial vehicles include buses and trucks. These vehicles are sufficient and capable of transporting goods and passengers from one place to another.
The rising popularity of electric vehicles has been notably growing in recent times. The government takes several measures to control air pollution and focus on sustainability. Overall, passenger cars are contributing a prominent role in the global market by 2033.
Based on application, infotainment systems are a significant category anticipated to secure a share of 63.4% by 2033. The rising demand for infotainment systems is due to their advanced features, such as internet connectivity, navigation, free-hand calling, and audio playback. These features enhance consumers' experiences and make them easy to access.
The manufacturers are implementing advanced technology in the infotainment systems to integrate features such as Heating, Ventilation, and Air Conditioning. However, the global market continues to expand with the growing demand for connected infotainment systems.
The United States is leading the global market by capturing 22.6% of the share by 2033. The growing automotive industry and rising demand for premium cars drive the United States market. The manufacturers are growing their production due to the rising demand for connected cars with advanced technologies in infotainment systems.
The various key players in the United States are expanding the market revenue, including Texas Instruments Inc, STMicroelectronics, NXP Semiconductors, and Intel Corporation. These key companies invest huge amounts in research and development activities to innovate unique products with technical advancements.
The United Kingdom is one of the growing nations estimated to capture a share of 9.2% by 2033. The growing consumer demand for premium, stylish, and luxury cars are advancing the market growth further. The manufacturers are developing products that meet consumers' requirements. The United Kingdom is a key exporter of high-quality infotainment systems in international markets.
Manufacturers are developing and improving efficiency and reducing costs by adopting technologies such as artificial intelligence, automation, and machine learning. The government of the United Kingdom is focused on sustainability to reduce environmental impacts. Therefore, the United Kingdom has developed environment-friendly electric cars that reduce waste and control air pollution.
China is one of the significant nations in the global market that register a share of 8.5% during the forecast period. The notably growing automotive industry and demand for SUVs are increasing the sales of automotive infotainment SoCs in the country. China is hugely invested in research and development activities to develop a unique and improved product to increase market growth.
The government of China is producing better-advanced technologies by collaborating with prominent players in the market. The key players in the market include Infineon Technologies AG, MediaTek Inc, and Rockchip Electronics Co. Ltd. The rising consumer demand for automated and connected cars are fueling China's automotive infotainment SoCs market.
India is another Asia Pacific nation anticipated to capture a share of 10.6% by 2033. India is contributing a significant revenue by several factors, including:
Several key players that capture the maximum revenue in India’s automotive infotainment SoCs market are Wipro, Sasken Technologies, and Tata Elxsi.
The manufacturers are adopting several marketing strategies to expand the global market. A few of them are as follows:
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The market is highly competitive by key players from regions. These key players contribute to the global market through innovations and marketing skills. These players adopt several marketing methodologies such as mergers, acquisitions, partnerships, product launches, and agreements.
Other Essential Players in the Global Market are:
Recent Developments in the Global Automotive Infotainment SoCs Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China |
| Key Segments Covered | Application, Vehicle Type, Region |
| Key Companies Profiled | Media Tek Inc; NXP Semiconductors N.V.; Texas Instruments Incorporated; Intel Corporation; Infineon Technologies Inc; Qualcomm Technologies Inc; Renesas Electronics Corporation; NVIDIA Corporation; Microchip Technologu Inc; STMicroelectronics N.V. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
In 2023, the market is expected to be worth USD 18.2 billion.
By 2033, the United Kingdom is anticipated to dominate a 9.2% market share.
The market is expected to continue growth at an 8.2% CAGR until 2033.
By acquiring 22.6% of the market by 2033, the United States will continue to dominate the top spot.
The market is expected to be around USD 40.1 billion by 2033.
| Estimated Market Size (2024E) | USD 3.3 billion |
|---|---|
| Projected Market Value (2034F) | USD 5.2 billion |
| Value-based CAGR (2024 to 2034) | 4.4% |
| Market Size 2022 | USD 2,487.9 Million |
|---|---|
| Market Size 2032 | USD 5,371.2 Million |
| Value CAGR (2022 to 2032) | 8.0% |
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Automotive Infotainment SoCs Market
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