Qualcomm: The potential for our driving chips has grown to $30 billion

Qualcomm: The potential for our driving chips has grown to $30 billion

The American chipmaker Qualcomm announced on Thursday, during the Automotic Investor Day event, an increase in the financial potential of its car components to $30 billion. This is more than $10 billion higher than the previous forecast made at the end of July, when the third quarter results were announced.

This rapid growth was achieved thanks to Snapdragon Digital Chassis, a product introduced by Snapdragon in January of this year, which is used by car manufacturers and component suppliers.

The Snapdragon Digital Chassis software solution is a set of platforms that can be connected to the cloud that car manufacturers can use to design cars, develop autonomous driving technologies, etc.

With the advent of electric vehicles and the development of autonomous driving technologies, the number of chips used by car manufacturers has increased significantly, and the automobile market has become one of the main sources of revenue growth for semiconductor manufacturers.

Qualcomm stated that its vehicle-oriented potential could increase to $100 billion by 2030. According to the company's estimates, in fiscal year 2022, its revenue from the automobile business would be about $1.3 billion, compared to $975 million in the previous fiscal year. Qualcomm expects that by fiscal year 2026, its revenue from this segment would rise to more than $4 billion, and in fiscal year 2031 to more than $9 billion.

Qualcomm also announced during an event to expand its partnership with Mercedes Benz Group AG, which will use the Snapdragon Cockpit platform in Snapdragon Digital Chassis for its car information and entertainment system from 2023 onwards.