The Total Valuation of Qualcomm's Automotive Business Orders Grew to $30 billion
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Update time : 2022-09-24 16:13:35
Qualcomm announced at its inaugural Auto Investor Conference that the total valuation of orders for its automotive business has grown to $30 billion thanks to the widespread adoption of Snapdragon ® digital chassis ™ solutions in the automotive industry. This represents an increase of more than $10 billion in total order valuations for its automotive business since Qualcomm announced its fiscal third quarter 2022 earnings.
At the Auto Investor Conference, Qualcomm announced several important developments:
· By 2030, the potential market size of the company's automotive business is expected to grow to $100 billion
· The company's automotive business orders are valued at $30 billion
· QCT Automotive Revenue Growth Momentum Strengthens from $975 Million in FY21 to $1.3 Billion in FY222 (Expected Revenue)
· Revised up revenue growth forecast for QCT's automotive business released in November 2021 – revenue will exceed $4 billion (expected revenue) in fiscal 2026 and more than $9 billion (expected revenue) in fiscal 2031
· Introducing the industry's first integrated supercomputing-grade automotive SoC, the Snapdragon Ride™ Flex SoC
In terms of cooperation, Qualcomm Technologies and Mercedes-Benz announced a cooperation in which the upcoming Mercedes models will be equipped with Snapdragon ® digital chassis ™ solutions. Based on the Snapdragon cockpit platform, Mercedes-Benz's next-generation information AV system will bring a rich immersive in-car experience, a highly in tuitive AI experience for on-board virtual assistants, and a natural interaction between the car and the driver, enabling the vehicle to intelligently adjust to meet the needs of the driver and occupants.
In addition, Qualcomm announced a partnership with Red Hat to bring a Functional Safety Level (ASIL-B) Linux-based operating system to the next generation of cars with Snapdragon ® digital chassis ™, helping the industry advance the development of software-defined vehicles and help accelerate the deployment of new cloud-connected digital services, creating new opportunities for deeper customer experiences and service-based business models, including enabling cars to upgrade their capabilities through the cloud throughout their lifecycle.
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