New York, July 03, 2023 (GLOBE NEWSWIRE) -- As per Persistence Market Research, the global market for system basic chips will reach US$ 62 billion by 2033. According to forecasts, the market is expected to grow by 8.1% between 2023 and 2033.
As electric and hybrid vehicles become more prevalent across the globe, there is a huge need for the development of a global system-based chip (SBC) market. The market growth has been further cushioned by the growth in demand from developing countries, including India and China. The chip fabrication technology is likely to advance further, increasing the power of basic chips in the coming decades.
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Specialized accelerators may be incorporated into basic chip systems to address the demands of emerging technologies, such as artificial intelligence. In addition to accelerating AI-related computations more efficiently, these accelerators enable faster and more accurate execution of AI workloads with tensor processing units (TPUs). More functionality will be incorporated into basic chip systems in the future. Devices that are smaller and more energy-efficient are driving this trend. This could improve performance and reduce power consumption by combining CPUs, GPUs, and memory onto the same chip.
Advanced chip architectures may improve energy efficiency and performance in future basic chip systems. The use of neuromorphic or quantum-inspired architectures could make AI and machine learning computations faster and more efficient.
As part of the European Union's plan to boost domestic semiconductor production, a €43 billion bid has been finalized. The European Commission announced that it had entered into a provisional agreement to implement the European Chips Act, with the goal of increasing the European Union's semiconductor market share from 10 to 20 percent by 2020. Europe is about to undergo a real revolution in the semiconductor industry with the new rules.
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Key Takeaways from Market Study
- The system basic chip market for passenger cars is expected to grow at an 8% CAGR by 2033.
- System basic chip revenue in the United States is expected to reach US$ 8.7 billion by 2033.
- The system basic chip market for body electronics is expected to grow by 7.9% by 2033
- China is projected to account for 52% of all systems basic chips in 2033.
- System basic chips are expected to generate US$ 1.6 billion by 2033 in the United Kingdom.
- According to forecasts, Japan will hold a 32% CAGR in the system basic chip market from 2023 to 2033.
- Between 2023 and 2033, PMR forecasts the system basic chip system market to grow at a CAGR of 8.1%.
“Demand for system basic chips is expected to increase due to increased integration and demand for efficient architectures. A growing demand for enhanced security features, specialized accelerators, and improved processing power is expected in the coming years,” says an analyst at Persistence Market Research.
Key Market Players
The system basic chip is used in a wide range of applications, gaining market share every year. A growing number of partnerships and collaborations will enable key players to expand into new markets. System basic chips are being developed by several companies, including:
- NXP Semiconductors N.V.
- Infineon Technologies
- Texas Instruments Incorporated
- Robert Bosch GmbH
- STMicroelectronics N.V.
- Onsemiconductor Corp.
- Microchip Technology
- Melexis N.V.
- Elmos Semiconductor AG
Key Market Developments:
- In June 2023, Samsung will launch custom AI services for its employees through its chip division. This system is expected to offer nine key capabilities, such as automatically responding to product purchases and managing costs, searching for knowledge, and analyzing data for chip production, as well as translating and trancribing minutes of internal meetings.
- In June 2023, water-soluble, innovative biocompatible hydrogel resin Hydrotech INX U200 is introduced, paving the way for bioprinting to take off. With this bioink, the Austrian 3D printer company UpNano collaborated with newcomer BIO INX to create complex organ-on-chip devices encapsulating live cells via two-photon polymerization (2PP).
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Market Key Segments
- By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Autonomous Vehicles, Automated Guided Vehicles)
- By Application
- Power Train (Engine Control Module, Hev/Ev Motor, Transmission)
- Safety (Airbags, Electronic Stability Control, Adaptive Cruise Control, Night Vision, Tire Pressure Monitoring System, Parking Assistance)
- Body Electronics (Body Control Modules, Door Control Unit, Led Lighting, Mirror & Window Control, Hvac System)
- Chassis (Brake Control Module, Steering Control Module, Suspension Control Module, Traction Control Module, Vehicle Dynamics Management)
- Telematics & Infotainment (Dashboards, Navigation, Connectivity Devices, Audio-Video Systems)
- By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
Know More about Report Inclusions
Persistence Market Research published a new market report on the system basic chip market, covering a global industry analysis of 2018 to 2022 and forecasts for 2023 to 2033. This research report provides compelling insights on the basis of product type, application outlook, and sales channel, across all major regions.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how system basic chip sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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