The system on module market is poised for exceptional growth, with a projected valuation of US$ 1.15 billion by 2023, soaring to an impressive US$ 4.65 billion by 2033. This remarkable ascent is anticipated to be accompanied by a robust Compound Annual Growth Rate (CAGR) of 15% over the forecast period.
A convergence of factors, including urbanization, digitization, widespread online presence, and the widespread adoption of advanced Artificial Intelligence technology, is propelling an unprecedented surge in demand for system on module solutions. A key driver behind this market expansion is the enhancement of performance in consumer electronics, encompassing smartphones, laptops, tablets, and computers. The strategic integration of chipboards within these systems to execute specific tasks is significantly contributing to the escalating demand for system on module solutions.
The rapid pace of innovation in transformative technologies such as 5G, the Internet of Things (IoT), and other cutting-edge advancements is acting as a potent catalyst for the expansion of the market. Diverse end-use sectors, including transportation, medicine, industrial automation, and entertainment, are actively embracing system on module solutions. This adoption is fueled by the growing need for heightened accuracy, advanced memory capabilities, and minimized risks of operational errors within these systems.
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Key Insights:
The system on module market is projected to reach a valuation of US$ 4.65 billion by 2033. With a strong CAGR of 15%, the global market is anticipated to witness growth from 2023 to 2033. The United States system on module market is expected to dominate and hold a significant share until 2033. During the historical period between 2017 and 2022, the market achieved a CAGR of 14.1%. Accumulating between 2017 and 2022, the market’s value stood at US$ 1.01 billion. Industry Leaders:
Prominent vendors in the market are driving the competition by investing significantly to maximize profits. These players focus on meeting consumer expectations and developing innovative products to satisfy their needs. Employing various advanced technologies, these industry leaders utilize diverse marketing tactics to achieve success on a global scale.
The growth of the market is being propelled by automobile manufacturers who are developing advanced autonomous vehicles using machine learning and sensor technologies. Increasing demand for embedded systems and cloud-based technologies is boosting the sales of system on module solutions. The innovation of wearable and wireless devices, such as smartwatches, is further fueling market growth. Additionally, the adoption of industrial robots and machine learning technology is contributing to the market’s expansion.
Manufacturers are introducing advanced devices tailored to end-use industries to reduce workloads and manual labor. Through strategic marketing initiatives, ideas, and research and development efforts, they are elevating their businesses to new heights. These strategies encompass mergers, product launches, acquisitions, partnerships, and collaborations.
Key Players:
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:
In October 2021, Seco announced its acquisition of Garz and Fricke Group, strengthening its presence in the European market. In September 2021, TechNexion partnered with Emteria to develop and enhance embedded products on the Android operating system. In 2022, SiFive collaborated with BrainChip to design optimized chips integrating machine learning and Artificial Intelligence technologies for edge computing. In 2020, e2-s and SoMLabs joined forces to create custom-designed products based on System on Modules (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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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