Oct 4, 2024, 10:15 AM
Oct 4, 2024, 10:15 AM

SoC Market Growth: $138.46B in 2024 to $205.97B by 2029

Highlights
  • The System-on-Chip (SoC) market is projected to grow from USD 138.46 billion in 2024 to USD 205.97 billion by 2029.
  • Key drivers of this growth include the automotive industry's adoption of advanced driver assistance systems and the rise of electric vehicles.
  • The Asia Pacific region is expected to dominate the market, highlighting the importance of innovation and competition among major players.
Story

The System-on-Chip (SoC) market is experiencing significant growth, projected to rise from USD 138.46 billion in 2024 to USD 205.97 billion by 2029. This expansion is largely driven by the increasing integration of SoCs in the automotive sector, particularly with the rise of advanced driver assistance systems (ADAS) and electric vehicles. The flexibility and cost-effectiveness of the RISC-V architecture are also contributing to its rapid adoption across various applications. The Asia Pacific region, including countries like South Korea, Japan, China, and India, is expected to lead this growth due to its robust consumer electronics and automotive industries. Major players in the SoC market include Qualcomm, MediaTek, and Apple, among others, who are innovating to meet the demands of this evolving landscape. As the market continues to expand, the focus on energy efficiency and integrated functionalities will be crucial for future developments.

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