System-on-chip (SoC) market expected to reach USD 214.8
New York, United States, Sept. 21, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “System-On-Chip Market Research Report, Type, Application—Forecast till 2030,” The market is expected to acquire a valuation of approximately USD 214.8 billion by the end of 2030. Reports further predict that the market will thrive at a robust CAGR of over 8.30% during the period of Evaluation.
SoC Report Scope:
|SoC market size by 2030||$214.8 billion|
|Growth of the SoC market||CAGR of 8.30% (2022-2030)|
|SoC Market Opportunities||The global electronics industry is expected to need more compact and scalable ICs|
|SoC Market Drivers||Introducing next-gen products like FitBit and Alexa|
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SoC market Drivers
Growing Need for AI Chip Technology to Drive Market Growth
The growing need for AI chip technology will drive the growth of the market over the forecast period. Consumer electronics, including high-end smartphones, smart speakers, tablets, wearables, and others, make heavy use of cutting-edge AI chips. These are also used in a variety of enterprise markets, including robotics, photography, Internet of Things (IoT) devices, and other items. Both of these sectors are important, but the consumer market for advanced AI processors is much larger than the enterprise market and is expected to grow more slowly. During the projected period, the major players are expected to benefit greatly from the growing demand for the AI edge chip market for consumer and professional devices.
system-on-chip market Opportunities
Growing demand for SoCs to provide robust opportunities
The growing demand for smartphone SoCs will provide strong opportunities for the market over the forecast period. Every smartphone needs a system-on-chip to function. Due to the affordable availability of high-quality smartphone technologies, the global smartphone market is expanding dramatically.
Constraints and challenges
Constant review of regulatory policies on chip standardization to act as market restriction
Constant scrutiny of regulatory policies on chip standardization, advancements in technology, lack of skilled AI manpower and low return on investment may act as restraints for the market during the forecast period .
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System-on-chip (SoC) market Segmentation
The global system-on-chip market is segmented on the basis of type, product types, manufacturing methodology, and applications.
By type, digital will dominate the market over the forecast period.
By product types, the system-on-chip market is segmented into Advanced Performance Multicore, Value Multicore, and Basic SoC.
Based on manufacturing methodology, the system-on-chip market is segmented into Full Custom, Standard Cell, and FPGA.
By applications, consumer electronics will dominate the market during the forecast period.
Due to the regulation of various levels of lockdown and containment regulations, the ongoing COVID-19 pandemic has significantly hampered the dynamics of the global economy and had severe effects on several industries around the world. This ultimately resulted in the closure of almost all non-essential businesses and facilities, which had a severe impact on their business operations and revenue. Given the scarcity of raw materials needed to produce the chips, the SoC market has also borne the brunt of the epidemic’s effects, which have been caused by interrupted supply chains. Leading semiconductor participants are focused on maintaining business continuity plans, maintaining cyber vigilance, and delivering technology upgrades in response to COVID-19 impacts on the industry’s share of the post-pandemic era due to the severity and implications of this industrial crisis.
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North America leads the system-on-chip market
In the system-on-chip market, North America holds the largest market share. Large telecommunications and information technology (IT) companies like Qualcomm and Apple are one of the causes. In this region, the demand for advanced electrical products is still strong. The fact that IoT devices are starting to gain popularity serves as further support for this, especially in North America. The market is expected to grow significantly in North America. The first two nations in North America are the United States and Canada. Indeed, the integration of IoT with household appliances is increasingly used and is expected to gain popularity during the projection period. Due to the growing need for integration of CPU, graphics and memory interfaces across different industries including automotive, consumer electronics, aerospace and military, the system-on-chip market in North America is expected to grow at a substantial rate over the assessment period. Due to the existence of several telecommunications and information technology (IT) companies, the growing acceptance of the Internet of Things (IoT) and the region’s high level of disposable income, America du Nord is expected to dominate the system-on-chip (SoC) market throughout the projection period.
APAC will experience significant growth in the system-on-chip market
With the largest market share in the world, Asia-Pacific is expected to dominate the system-on-chip market. The main countries in the market are Japan, Taiwan, China and the Republic of Korea. This is due to an increase in demand for home appliances, and the electronics market is expected to gain popularity among consumers. Due to the growing demand for SoCs in consumer electronics, IT and telecommunications sectors, Asia-Pacific is expected to hold a major share of the global system-on-chip market during the forecast period. . In the region, systems on chips are widely used in electronic devices such as Bluetooth headsets, fitness bands, tablets, smartwatches, laptops, home appliances and consumer electronics. Additionally, the market is driven by the rise of digitalization, the expansion of the Internet of Things (IoT), advancements in server analytics and performance, and continuous investments in powerful workstations. workstations and servers using 5G technologies. And another important aspect of the Asia-Pacific system-on-chip market is innovation in portable electronic devices such as e-readers, cell phones, tablets, and USB drives. Due to growing demand for Internet of Things (IoT) based consumer electronics devices, accelerating technological innovation and presence of prominent players in this region, the system-on-chip market (SoC) is expected to grow at the fastest rate globally.
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Key players profiled in the Global SoC Market report include-
- Broadcom Corporation (USA)
- Infineon Technologies AG (Germany)
- Qualcomm Inc., (USA)
- Arteris IP (USA)
- Texas Instruments Inc., (USA)
- Intel Corporation (USA)
- NXP Semiconductors (USA)
- Toshiba Corporation (Japan)
- MediaTek Inc. (Taiwan)
- STMicroelectronics SA (Switzerland)
- Samsung (South Korea)
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