Chipmaker Qualcomm says automotive future business expands to $30 billion [Reuters]
NVIDIA Corporation (NVDA)
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Source: Reuters
Slideshow ( 2 images ) The jump in future business was thanks to its Snapdragon Digital Chassis product used by car makers and their suppliers, Qualcomm said at its Automotive Investor Day. The Snapdragon Digital Chassis can provide assisted and autonomous driving technology, as well as in-car infotainment and cloud connectivity. With electric vehicles and increasing autonomous features in cars, the number of chips used by automakers is surging and the automotive market has been a key growth area for chipmakers. “When you think about a per car basis, a lower tier car, we have an opportunity of approximately $200 stretching all the way to $3,000 at the high tier,” said Akash Palkhiwala, Qualcomm's CFO. “Going forward the mix will continue to shift towards the high end so the opportunity will keep expanding.” Qualcomm said the automotive market size it is targeting could grow to as large as $100 billion by 2030. In fiscal year 2022, it estimates its automotive business reve
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