New York, Jan. 16, 2024 (GLOBE NEWSWIRE) — PMR predicts that the global system basic chip market will hit $28.4 billion in 2023. By 2033, the system basis chip market is expected to reach $62 billion, growing at a rate of 8.1% each year.
Chips play a crucial role in various automotive applications such as ADAS, automated driving, infotainment systems, and vehicle connectivity. This expanding market offers opportunities for chip manufacturers to address safety, reliability, and power efficiency concerns.
System-on-a-Chip (SoC) consolidates multiple functions into a single device, including processors, memory, graphics, and communication interfaces. This approach offers advantages like a compact design, lower power consumption, and enhanced performance. SoC integration is particularly important for IoT devices, mobile devices, and automotive electronics.
Basic chips in body electronics handle power management functions. Apart from efficiently regulating and distributing power, they contribute to extending battery life and optimizing energy usage. As connectivity, electrification, and autonomy in vehicles increase, body electronics systems become more intricate, requiring more chips to support these functions.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 28.4 Billion | |
| Estimated Revenue 2033 | US$ 62 Billion | |
| Growth Rate – CAGR | 8.4% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 289 Pages | |
| Market Segmentation | By Vehicle Type, Application and Region, | |
| Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa | |
| Key Companies Profiled |
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Market Dynamics:
Drivers:
- Expansion of Automobile Industries: The growth of the automobile industry is boosting the system basis chip (SBC) market. The increased production of vehicles globally is a key factor propelling market growth. The integration of electronics in vehicles and the rising demand for advanced safety, convenience, and comfort systems in automobiles are contributing factors.
- Increased Vehicle Production: The surge in vehicle production worldwide is a crucial driver for the system basis chip (SBC) market. As more vehicles are being manufactured, there is a growing need for SBC and related components. This is further fuelled by the demand for electronic features in modern vehicles.
- Growing Adoption in Various Applications: The global SBC market is witnessing significant growth across various applications, including automotive, industrial, and medical sectors. The increasing production of automobiles globally is a key factor driving the demand for SBC. Additionally, continuous technological innovation is boosting the use of differential sensors in industrial, military, and defence applications.
- Rising Demand for Hybrid and Electric Vehicles: The forecast period anticipates a surge in demand for SBC due to the increasing popularity of hybrid and electric vehicles. This shift towards electric mobility is creating new opportunities for SBC in the market.
Restraints:
Balancing Cost and Product Quality: Maintaining a balance between cost and product quality poses a challenge for the SBC market. Cost concerns can limit the incorporation of new features in vehicles, impacting the growth of the system basis chip market in the forecast period.
Opportunity:
Growing Penetration of Electric and Hybrid Vehicles: The increasing adoption of electric and hybrid vehicles globally presents a significant opportunity for the system basis chip market. The demand for SBC is on the rise, especially in developing countries like India and China, contributing to market growth.
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Top 5 Key Trends from the System Basis Chip Market
1. Rising demand from the automotive industry: The automotive industry is a major driver of the SBC market, as the increasing demand for advanced driver-assistance systems (ADAS), electric vehicles (EVs), and autonomous vehicles (AVs) is leading to the need for more sophisticated electronic control units (ECUs). SBCs are ideal for these applications because they can integrate multiple functions into a single chip, which saves space, weight, and power.
2. Increasing complexity of in-vehicle electronics: The electronics in cars are becoming increasingly complex, with features such as infotainment systems, heads-up displays, and connected car technology. This complexity is driving the need for SBCs that can handle multiple data streams and perform complex calculations.
3. Growth of the industrial automation market: The industrial automation market is another major driver of the SBC market, as factories are increasingly adopting automation to improve efficiency and productivity. SBCs are well-suited for industrial applications because they are reliable and can operate in harsh environments.
4. Focus on security and safety: As SBCs are used in a wider range of applications, there is a growing focus on security and safety. SBC manufacturers are developing chips with built-in security features to protect against cyberattacks.
5. Emergence of new applications: SBCs are finding new applications in a variety of industries, including healthcare, consumer electronics, and aerospace. This is due to the increasing capabilities of SBCs and the decreasing cost of production.
Competition Overview:
Companies that make system basis chips often team up strategically to expand their market share. Their aim is to increase their presence in the market, improve their technological capabilities, and offer better products. By combining their strengths, these companies can come up with innovative solutions.
These companies invest in research and development to make their products more functional and better performing. They frequently introduce new products to stay ahead of their competitors.
In June 2023, Hilscher’s global partners will provide industrial automation solutions using the latest netX 90 System-on-Chip (SoC). This technology allows automation vendors to create new or improved products supporting CC-Link Field Basis, connecting various devices from different vendors.
Also in June 2023, Marvell introduced their latest single-chip central Ethernet switches, designed for a zone-based vehicle architecture. These switches from Marvell Semiconductor can support software-defined services in next-gen vehicles, contributing to enhanced safety.
Scope of the Report:
This report covers the system basis chip market based on vehicle types, applications, and location. In the forecast period, the system basis chip market for passenger cars is expected to be the largest, with the highest growth rate in the Heavy Commercial Vehicle (HCV) segment.
In 2015, the system basis chip market for passenger cars was the largest, including various types like sedans, hatchbacks, SUVs, and vans. This market is significant as passenger cars make up the largest share in the automotive industry.
The body electronics application market is also predicted to grow during the forecast period. The increasing complexity of automotive body electronic applications, driven by the demand for higher interaction between systems and vehicles, is a key factor. The demand for system basis chips is further boosted by the increasing use of LED lighting in automobiles, especially in high-end cars.
The Asia-Pacific (APAC) region dominated the system basis chip market in 2015, being a major hub for automotive production and sales. Although North America held a smaller share in 2015, it is expected to have the highest growth rate due to its advanced automotive sector and the increasing demand for premium cars with advanced semiconductor features.
Key Questions Answered in the Report:
- What factors contribute to the growth trends in the market?
- What is the present market size, and how is it anticipated to change in the forthcoming years?
- What key elements are influencing the market?
- How is the System Basis Chip market divided, considering types, fuels, applications, or other relevant factors?
- Who are the primary participants in the System Basis Chip market?
- What strategies are these players employing to establish a competitive edge?
- What factors are driving the expansion of the System Basis Chip market?
- Which regions are expected to experience notable growth, and what are the reasons behind it?
- What recent technological advancements are impacting the System Basis Chip industry?
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