The system on module market is poised for remarkable expansion, with Future Market Insights (FMI) forecasting a valuation of USD 1.15 billion by 2023, surging to an impressive USD 4.65 billion by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 15%.
This growth trajectory is underpinned by a convergence of influential factors such as urbanization, digitization, widespread online presence, and the widespread adoption of advanced Artificial Intelligence (AI) technology. These elements collectively contribute to the escalating demand for SoM solutions. A pivotal driver behind this market's growth is the pursuit of enhanced performance in consumer electronics, including 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 significant growth in the foreseeable future.
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Key Takeaways:
- The system on module market is expected to have a valuation of USD 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 USD 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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