Nearly two decades ago, Qualcomm made a quiet entrance into the automotive sector when it began supplying modems for use in General Motors' OnStar communications system in 2002.
It's been a slow-and-steady climb, but the semiconductor and wireless tech company has made continued forays into the auto industry, the most recent a multibillion-dollar attempt to acquire automated-driving tech company Veoneer. Setting aside that unknown outcome, Qualcomm's progress has been tangible. In August, Qualcomm achieved a milestone of $1 billion in annual revenue from its automotive business.
That's a small fraction of what's ahead. Qualcomm says it has $10 billion in automotive business in its pipeline under contract, and the company — which works with 23 global automakers — is taking further steps to entrench itself as an indispensable part of the digital auto landscape.