Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Digital TV SoC Market By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global digital TV SoC market was valued at $8.6 billion in 2021, and is estimated to reach $28.2 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031.
Key Market Players
- Intel Corporation
- Samsung Electronics Co Ltd
- Qualcomm Incorporated
- Toshiba Corporation
- NXP Semiconductors
- STMicroelectronics N.V.
- MediaTek Inc
- Broadcom Inc.
- Apple Inc.
- Taiwan Semiconductor Manufacturing Co. Ltd.
The digital TV SoC Market is likely to experience a significant growth rate of 12.8% from 2022-2031 owing to increasing market demand from the energy and power sector.
A system on a chip, or SoC, is essentially an integrated circuit or IC that integrates an entire electronic or computing system onto a single substrate. With features like potent artificial intelligence (AI) engines, Motion Estimation and Motion Compensation (MEMC), versatile video coding (VVC) decoding, and picture-in-picture (PiP) technology, a system on a chip offer unmatched performance and power efficiency in a digital TV solution.
Key factors driving the growth of the digital TV SoC market include the surge in demand for smart and power-efficient electronic devices paired with the surge in disposable income in developing economies. Consumers opt for devices, which have better battery back-up as well as efficient & minimal power consumption.
Thus, there is an increase in consumer demand for the device to deliver enhanced performance as well as consume less power. SoC in digital TV offers faster execution of tasks due to its memory and high-speed processor. Latest SoCs having up to 10 cores are also entering the market due to continuously increasing demand and SoCs with further cores are expected to be deployed in near future to fulfill consumer demand.
The growing popularity of solutions in developed and developing countries has resulted in the adoption of in-home entertainment solutions, which is expected to provide significant growth opportunities for the market. Economic growth and middle-class population growth in developing countries such as China, India, and Brazil drove the increase in disposable incomes.
Continuous electricity is required to continue manufacturing and other processing operations in industries such as oil & gas, manufacturing, building & construction, and processing without any production loss.
The market also offers growth opportunities to the key players in the market. Characteristics of compact and scalable ICs such as compact size, lightweight, reduced cost, low power consumption, high reliability, and ease of replacement play an important role in the electronic industry, and because of this there is a continuous demand for applications loaded with ICs, which is expected to create lucrative opportunities for the key players operating in the global digital TV system on chip (SoC) market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital tv soc market analysis from 2021 to 2031 to identify the prevailing digital tv soc market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the digital tv soc market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital tv soc market trends, key players, market segments, application areas, and market growth Strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 328 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $8.6 billion |
| Forecasted Market Value (USD) by 2031 | $28.2 billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Key Market Segments
By Application
- LCD
- LED
- OLED
- QLED
By End User
- Residential
- Commercial
For more information about this report visit https://www.researchandmarkets.com/r/vr2f48
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