The market for system on modules is expected to be valued at US$ 1.15 billion in 2023, rising to US$ 4.65 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 15%.
Urbanisation, digitization, online presence, and the adoption of cutting-edge artificial intelligence technology are driving the rising need for system on modules. The market is expanding as a result of the performance of consumer devices, including as smartphones, laptops, tablets, and desktops, being improved. System on modules are more in demand as a result of the creation of chipboards by electronic manufacturers for the system to carry out particular duties.
The development of 5G, the Internet of Things, and other cutting-edge technologies fuels the expansion of the market. The application of system on modules is expanding across a number of end-use industries, including transportation, healthcare, industrial automation, and entertainment. The adoption of system on modules is being driven by the rising demand for high accuracy, cutting-edge memory, and a minimal risk of system mistakes.
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The market opportunities are flourishing for automobile manufacturers developing advanced autonomous vehicles with machine learning and sensor technologies. Growing demand for embedded systems and cloud-based technologies are increasing the sales of system on module. Wearable and wireless device innovation, such as smartwatches, is fueling market growth. The use of industrial robots and machine learning technology expands the market.
Key Takeaways:
- The system on module market is expected to have a valuation of US$ 4.65 billion by 2033.
- With a CAGR of 15%, the global market is expected to increase from 2023 to 2033.
- The United States system on module market is anticipated to secure a maximum share through 2033.
- In the historical period, the market secured a CAGR of 14.1% between 2017 and 2022.
- In the historical period, the market captured US$ 1.01 billion between 2017 and 2022.
Who is Winning?
The prominent vendors are the leading players in the market that invest a vast amount in acquiring maximum profits. These focus on consumers’ expectations and developing better innovative products that satisfy their requirements. The players are adopting several marketing tactics with advanced technologies to achieve their goals in the global market.
Marketers are developing several advanced devices for end-use industries to reduce workloads and labor work. They are expanding their business to another height through their marketing skills, ideas, and research & development activities. These marketing tactics are mergers, product launches, acquisitions, partnerships, and collaborations.
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Other Prominent Players in the Market are:
- Advantech Co Ltd.
- ConnetTech Inc.
- AAEON Technology
- Avnet Inc.
- EMAC Inc.
- Avalue Technology
- Axiomtek Co. Ltd.
- Eurotech Inc.
- National Instruments
- SECO S.P.A.
- VIV Technologies Inc.
- Kontron ST & G
- Phytec
- Microchip Technology
- Emac Inc.
- Unex Technology
- Digi International Inc.
- Variscite
Recent Developments in the Market are:
- In October 2021, Seco announced its acquisition with Garz and Fricke Group to expand its strength in the European market.
- In September 2021, TechNexion announced its partnership with Emteria for developing and uplifting embedded products on the Android operating system.
- In 2022, SiFive partnered with BrainChip to design optimized chips with machine learning and Artificial Intelligence technologies for computing edge.
- In 2020, e2-s and SoMLabs collaborated on custom design products based on SOMs.
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Market by Category
By Product:
- Power Architecture
- ARM Architecture
- x86 Architecture
By Application:
- Medical
- Transportation
- Industrial Automation
- Entertainment
- Test & Measures
By Standard:
- SMARC
- Qseven
- COMExpress
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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