In an era of notable expansion, the system on module market is projected to achieve a valuation of US$ 1.15 billion by 2023, soaring to an impressive US$ 4.65 billion by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 15% as forecasted by Future Market Insights (FMI).
The ascendancy of the system on module market is propelled by a confluence of influential factors, including urbanization, digitization, widespread online presence, and the pervasive adoption of advanced Artificial Intelligence technology. These factors collectively contribute to the escalating demand for System on Module (SoM) solutions. A pivotal driver behind this market’s growth is the pursuit of enhanced performance in consumer electronics, encompassing smartphones, laptops, tablets, and computers. The strategic integration of chipboards within these systems for specific tasks plays a crucial role in fueling the increasing demand for SoM solutions, positioning the market for remarkable growth in the foreseeable future.
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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.
Automobile manufacturers developing advanced autonomous cars with machine learning and sensor technologies are flourishing the market opportunities. Growing demand for embedded systems and cloud-based technologies are increasing the sales of system on module. The innovation of wearable and wireless devices, such as smartwatches, is flourishing the market growth. The adoption of industrial robots and machine learning technology bolsters the market size.
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.
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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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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