Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Global System on Chip Market (2023-2028) by Type, Application, End User, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global System on Chip Market is estimated to be USD 176.03 Bn in 2023 and is expected to reach USD 249.79 Bn by 2028. The market is set to grow at a Compound Annual Growth Rate (CAGR) of 7.25%.
Market Dynamics:
Drivers:
- Rising trend of digitalization
- Increasing use of wearable devices such as smartwatches and fitness trackers
- Demand for smart and power-efficient electronic devices
Restraints:
- High initial cost of design and development
- Regulatory policies on standardization
Opportunities:
- Technological advancements
Challenges:
- Technical obstacles of device integration and development
Companies Mentioned:
- Apple, Inc.
- Arm Holding PLC
- Arteris IP
- Broadcom, Inc.
- Cypress Semiconductor
- Dialog Semiconductor
- Elpida Memory, Inc.
- Freescale Semiconductor, Inc.
- GHI Electronics
- Huawei Technologies Co. Ltd.
- Infineon Technologies Ag
- Intel Corp.
- LSI Corp.
- MediaTek, Inc.
- Microchip Technology, Inc.
- NVIDIA Corp.
- NXP Semiconductors N.V.
- Qualcomm, Inc.
- Samsung Electronics Co. Ltd.
- Spreadtrum Communications (Tsinghua Holdings)
A System-on-Chip (SoC) is an integrated circuit that integrates several electrical components onto a single chip, such as CPUs, memory, and peripherals. SoCs are used in various devices, including smartphones and Internet of Things devices, to optimize performance, power economy, and space utilization by compressing complicated operations into small units.
The increasing digitalization of businesses is driving up demand for versatile System-on-Chip (SoC) solutions. SoCs provide integrated computing power, memory, and connectivity, which are critical for processing and transferring large volumes of data in a variety of applications such as automation, communication, and data analysis, driving the demand for efficient and compact computing solutions.
Wearable technology adoption, such as smartwatches and fitness trackers, is driving SoC development. These small devices require integrated components to provide real-time data processing, communication, and power efficiency. SoCs meet this demand by seamlessly integrating computing units, sensors, and wireless capabilities into the small space of wearable devices.
Consumer demand for smarter and more energy-efficient electronic products, such as smartphones, IoT devices, and smart appliances, is a major driving force behind SoC progress. SoCs allow these devices to perform complicated operations while minimizing power consumption, resulting in longer battery life and improved user experiences that align with the increasing tastes of tech-savvy customers.
Technological innovations create enormous market opportunities, driving innovation and expansion across industries. Continuous advancements in fields such as artificial intelligence, 5G connectivity, and miniaturization allow for producing more sophisticated goods. This opens up opportunities for businesses to deliver innovative solutions, improve user experiences, and capitalize on the changing demands of a tech-driven market, supporting competitiveness and expansion.
However, the complex process of creating and producing System-on-Chip (SoC) solutions necessitates substantial initial investments in professional labor, design tools, and prototypes. This financial barrier could discourage smaller businesses and startups from entering the industry, lowering overall innovation.
Stringent regulatory rules and standardization requirements may hinder the expansion of the SoC market. Compliance with multiple standards and laws frequently necessitates more resources, time, and testing, which could hinder the agility and flexibility required to quickly respond to technology advances, potentially limiting market responsiveness and competitiveness.
Competitive Quadrant:
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis:
The report presents a detailed Ansoff matrix analysis for the Global System on Chip Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $176.03 Billion |
| Forecasted Market Value (USD) by 2028 | $249.79 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ufyux9
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