Qualcomm Automotive Future Market Increases to $30 billion with a Snapdragon Digital Chassis Product: Details

Qualcomm Automotive Future Market Increases to $30 billion with a Snapdragon Digital Chassis Product ...

Qualcomm Inc, a US chip company, said on Thursday that its automotive business "pipeline" increased to $30 billion (roughly Rs. 2,42,770 crore) with more than $10 billion (roughly Rs. 81,000 crore) since its third quarter results were announced in late July.

Qualcomm has announced that its Snapdragon Digital Chassis technology is used by car manufacturers and suppliers, as well as inside-car infotainment and cloud connectivity.

The number of chips used by automobile manufacturers is rising, and the automotive market has been a major growth area for chipmakers.

"When you think about a per car basis or a lower tier automobile, we have a possibility of $200, covering $3,000 at the high tier, according to Qualcomm''s CFO.

"The mix will continue to shift towards the high end, thus the opportunity will continue to expand."

Qualcomm predicts that by 2030, the automotive market size it is targeting might reach $100 billion (roughly Rs. 8,09,500 crore).

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In fiscal year 2022, it estimates its automotive business income will 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 anticipates that the revenue will reach $4 billion (roughly Rs. 32,400 crore) and in fiscal year 2031 to $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 several vehicle customers in China. Asked about the implications of tighter US export regulations, CEO Cristiano Amon said "strong win-win partnerships between US companies and China enterprises will always be a force of stability."

"But we''ll see what the future holds," he added.

Nvidiaunveiled a new automotive central computer called DRIVE Thor, which will provide autonomous and assisted driving as well as in-car digital entertainment and services.

2022 Thomson Reuters