Wilmington, Delaware, USA, June 23, 2022 (GLOBE NEWSWIRE) — The system-on-chip market share has grown steadily in recent years through the application of technology in large-scale data centers, ADAS automobiles and chip architectures used in the consumer electronics spectrum. The growth of the global system-on-chip (SoC) market is increasingly fueled by the need for hardware miniaturization, improved power efficiency, and high-performance microcontrollers across a wide range of applications. A TMR report on the system-on-chip market forecasts that the global valuation will grow at a CAGR of 8.1% from 2022 to 2031.
New system-on-chip technologies and innovative designs, including in mixed-signal SoCs (MxSoCs) and organ-on-chips, are increasingly being applied and have opened up new frontiers in the system-on-chip market. The growing use of these in medical monitoring devices and a host of machine learning (ML) applications are driving revenue growth, underscore many of the recent trends in the system-on-a-chip (soc) market.
The past few years have witnessed rapid R&D in ADAS-based system-on-chip (SoC), which has greatly expanded the market outlook for the system-on-chip (soc) industry. The use of products in the system-on-chip market has proliferated with the penetration of the IoT system for industrial and commercial applications, thanks to the constant upgrading of mobile devices.
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Key Findings from the System-on-Chip Market Research
- Automotive adoption and the transportation industry to boost revenue streams: The use of ADAS is growing rapidly in vehicles to promote passenger comfort and safety. The proliferating demand for SoCs in the automotive and transportation industry has thus created abundant lucrative avenues in the system-on-chip market. Customers are increasingly attracted to self-driving features in passenger vehicles.
- Use in consumer electronics holds incredible opportunities: The system-on-chip market has seen substantial revenue streams from the increase in the incorporation of SoCs into consumer electronics. A large part of the demand comes from mobile devices such as smartphones, laptops and tablets for private and commercial use. Hence, increasing sales of these globally have enhanced the revenue potential of the system-on-chip market.
- Applications of IoT and AI chips to herald future growth avenues of System-on-Chip market: The increase in IoT use cases has generated huge revenue potential. IoT SoCs are increasingly used thanks to the penetration of connected devices. Another area of lucrative growth is advancements in AI and machine learning methods and technologies. In all key economic sectors, the use of AI methods and tools has increased. The commercialization of AI chips has strengthened the revenue streams of companies in the system-on-chip market.
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System-on-chip market: Khey Drivers
- A key factor that has shaped the evolution is the continuous need to improve the performance and design features of mobile devices, especially smartphones. The continued focus on miniaturization of electronics has widened the path for commercialization of products in the system-on-chip market.
- Increase in R&D on new chip architecture in computer and telecommunications industries is a key driver of system-on-chip market.
System-on-chip market: regional growth momentum
- The TMR study estimates that during the forecast period, Asia-Pacific is expected to account for a key share of the global system-on-chip market. The regional market has witnessed several lucrative opportunities through huge marketing avenues across multiple end-use industries. The increased penetration of IoT devices and the development of 5G have opened up new revenue streams.
- North America has emerged as a notable lucrative region in the global system-on-chip market. Europe is another region with huge revenue potential, especially in Italy, Spain, France and Germany. Considerable R&D in these regions is expected to create profitable avenues for market players.
System-on-Chip Market: Key Players
Some of the major players in the widely consolidated landscape are Toshiba Corporation, STMicroelectronics NV, Samsung Electronics Ltd., Qualcomm Incorporated, NXP Semiconductors NV, Microchip Technology Inc., MediaTek Inc., Intel Corporation, and Broadcom Inc.
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Segmentation of the system-on-chip market
- Household appliances
- Portable electronic devices
- ADAS system
- Medical equipement
- RF devices
- Power electronic devices
- Wired and wireless communication devices
- Portable devices
- Others (AR and VR devices, IoT devices, etc.)
- End-use industry
- Consumer electronics
- Automotive and transportation
- IT & Telecommunications
- Aerospace and Defense
- Health care
- Power and utility
- Others (Building & Infrastructure, Energy, etc.)
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- North America
- Asia Pacific
- Middle East and Africa
- South America
- Russia and CIS
- South Africa
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