Wilmington, Delaware, United States, June 23, 2022 (GLOBE NEWSWIRE) -- The system-on-chip market share has grown steadily in recent years from the application of the technology in hyper scale data centers, automotive ADAS, and high-performance chips architectures used in spectrum of consumer electronics. The growth of global system on chip (SoC) market is increasingly fuelled by need for hardware miniaturization, improving power efficiency, and high-performance microcontrollers in a wide range of applications. A TMR report on the system-on-chip market forecast the global valuation to advance at CAGR of 8.1% from 2022 to 2031.
Newer system-on-chip technologies and innovative designs including in mixed signal SoCs (MxSoCs) and organ-on-a-chips are growing in application, and have opened new frontiers in the system-on-chip market. Rise in use of these in medical monitoring devices and a host of machine learning (ML) applications is steering revenue growth, underscore many of the recent system-on-chip (soc) market trends.
The past few years have witnessed rapid R&D in ADAS-based system-on-chip (SoC), which has considerably broadened market outlook for system on chip (soc) industry. The use of products in the system-on-chip market has proliferated on the back of penetration of IoT system for industrial and commercial applications, riding on the back of constant upgraded in mobile devices.
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Key Findings of System-On-Chip Market Study
- Adoption in Automotive & Transportation Industry to Spur Revenue Streams: The use of ADAS is rising rapidly in vehicles to promote the comfort and safety of passengers. Proliferating demand for SoCs in automotive & transportation industry has thus created abundant lucrative avenues in the system-on-chip market. Customers are increasingly attracted toward autonomous driving features in passenger vehicles.
- Use in Consumer Electronics Underpins Incredible Opportunities: The system-on-chip market has been witnessing substantial revenue streams from rise in incorporation of SoC in consumer electronics. A vast proportion of demand has come from mobile devices such as smartphones, laptops, and tablets for both private and commercial use. Hence, rise in sales of these globally has bolstered the revenue potential of the system-on-chip market.
- Applications of IoT and AI Chips to Herald Future Growth Avenues in System-On-Chip Market: Rise in use cases of IoT has generated enormous revenue potential. IoT SoCs have risen in use on the back of the penetration of connected devices. Another area of lucrative growth is the advancements made in AI and machine learning methods and technologies. Across all key economy sectors, the use of AI methods and tools has risen. The commercialization of AI chips has bolstered the revenue streams for companies in system-on-chip market.
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System-On-Chip Market: Key Drivers
- A key factor that has shaped the evolution is continuous need for improving the performance and design characteristics in mobile devices most notably smartphones. Constant focus on miniaturisation of electronics has broadened the avenue of commercialization of products in the system-on-chip market.
- Rise in R&D on novel chip architecture on IT & telecom industries is a key driver of the system-on-chip market.
System-On-Chip Market: Regional Growth Dynamics
- The TMR study estimates that during the forecast period, Asia Pacific is anticipated to account for a key share of the global system-on-chip market. The regional market has been witnessed several lucrative opportunities on the back of enormous commercialising avenues in multiple end-use industries. Increased penetration of IoT devices and the development of 5G have opened up new revenue streams.
- North America has emerged as a remarkable lucrative region in the global system-on-chip market. Europe is another region with massive revenue potential, especially in the Italy, Spain, France, and Germany. Considerable R&D in these regions is expected to create profitable avenues for market players.
System-On-Chip Market: Key Players
Some of the key players in the largely consolidated landscape are Toshiba Corporation, STMicroelectronics N.V., Samsung Electronics Ltd., Qualcomm Incorporated, NXP Semiconductors N.V., Microchip Technology Inc., MediaTek Inc., Intel Corporation, and Broadcom Inc.
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System-On-Chip Market Segmentation
- Type
- Analog
- Digital
- Mixed
- Analog
- Application
- Home Appliances
- Portable Electronic Devices
- ADAS System
- Medical Devices
- RF Devices
- Power-electronic devices
- Wired & Wireless Communication Devices
- Wearable Devices
- Others (AR & VR Devices, IoT Devices, etc.)
- Home Appliances
- End-use Industry
- Consumer Electronics
- Automotive & Transportation
- IT & Telecommunication
- Aerospace & Defense
- Healthcare
- Power & Utility
- Others (Building & Infrastructure, Energy, etc.)
- Consumer Electronics
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Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- Japan
- China
- India
- ASEAN
- Brazil
- Mexico
- GCC
- South Africa
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