Qualcomm Inc, a US chip manufacturer, said on Thursday that its automotive subsidiary''s "pipeline" increased to $30 billion (roughly Rs. 2,42,770 crore) and increased more than $10 billion (roughly Rs. 81,000 crore)since its third quarter results were announced in late July.
Qualcomm said at its Automotive Investor Day that the Snapdragon Digital Chassis can provide autonomous driving, assisted and autonomous driving technologies, as well as in-car infotainment and cloud connectivity.
With electric vehicles and increased autonomous capabilities in cars, the number of chips used by automakers is increasing, and the automotive market has been a key growth area for chipmakers.
"When you look at a per car basis or a lower tier automobile, we have a possibility of $200, which may range from $500 to $3,000 (roughly Rs. 2.4 lakh) at the high tier," said Qualcomm''s CEO.
"Going forward the mix will continue to shift towards the high end, thus the possibility will continue to expand."
Qualcomm forecasts that the automotive market size it is targeting could reach $100 billion (roughly Rs. 8,09,500 crore) by 2030.
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In fiscal year 2022, it estimates its automotive business revenues would be about $1.3 billion (roughly Rs. 10,520 crore) from $975 million (roughly Rs. 7,900 crore) the previous year. By fiscal year 2026, it estimates that it will total over $4 billion (roughly Rs. 32,400 crore) and in fiscal year 2031 to over $9 billion (roughly Rs. 72,850 crore).
Qualcomm has announced a joint venture with Mercedes Benz Group AG, which will be using the Snapdragon Cockpit for its in-car infotainment system from 2023.
Qualcomm has a large number of automotive customers in China. Upon inquiries about the implications of broader US export regulations, CEO Cristiano Amon said "strong win-win partnerships between US and China enterprises will always be a force of stability."
"But we''ll see what the future holds," he said.
Nvidiaunveiled a new car central computer called DRIVE Thor in the early morning of this week, which will provide autonomous and assisted driving as well as in-car digital entertainment and services.
2022 Thomson Reuters