System on Module (SoM) Market is expected to reach US$ 2,911.2 million by 2028

Published Date: 30 Sep 2021

Report : System on Module (SoM) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Processor Type (ARM, X86, POWER, FPGA, GPU, and DSP), Application (Industrial Automation, Entertainment, Medical, Transportation, Test and Measurement, and Others), and Standard (Qseven, SMARC, and COMExpress)

Rise in Government Initiatives for Industrial Expansion in APAC to Provide Growth Opportunities for System on Module Market during 2021–2028

According to our latest market study on “System on Module (SoM) Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Processor Type, Application, and Standard,” the market is expected to grow from US$ 1,651.6 million in 2021 to US$ 2,911.2 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.

The Asia Pacific system on module market is anticipated to grow at a significant CAGR during the forecast period. The projected growth is attributed to the rise in government initiatives to support the ongoing industrialization and increasing demand for efficient electronic components such as processors, boards, and system in modules from the consumer electronics industry. Governments in this region are also striving to propel the growth of the electronics & semiconductors sector. With the 2014 National Integrated Circuit Industry Development Guidelines, the State Council of China set the goal of making China a global leader in all segments of the semiconductor industry by 2030. In addition, through its Made in China 2025 initiative, the country aims to achieve the standards of advanced semiconductor manufacturing, as a vital part of its future economy. The government of China is spending aggressively in investments, acquisitions, and talent recruitment for encouraging the proliferation of the semiconductors industry. Countries such as Taiwan and India are focusing on the development of their manufacturing and industrial automation sectors through attracting foreign investments, coupled with the establishment of facilities of the global players, as well as through supporting startup businesses. Moreover, the flourishing IT and services infrastructure in China and India is supporting the development and adoption of highly efficient embedded computing solutions. These factors are providing growth impetus to the system on modules industry in the coming years.

Based on processor type, the system on module (SoM) market is segmented into ARM, X86, Power, FPGA, GPU, and DSP. The market for the ARM segment was valued at US$ 646.0 million in 2020. Further, based on standard, the system on module (SoM) market is segmented into Qseven, COMExpress, and SMARC. The market, based on application, is segmented into industrial automation, entertainment, medical, transportation, test and measurement, and others.

Impact of COVID-19 Pandemic on System on Module (SoM) Market
The COVID-19 pandemic has adversely affected the system on module market with supply chain disruptions and production delays. Lockdown imposed by several governments, restriction levied on international trade barriers, and temporary shutdown of manufacturing plants in the automotive and consumer electronics industries are hindering the market growth. Uncertainty in the stock market, and lowered business confidence have led to panic among customers. However, governments across the world started bringing relaxations in the restrictions from late 2020. They are also taking significant initiatives and providing funds to support the electronics & semiconductors sector. Further, demands for system on modules have started to rise with the reopening of this sector. Increase in investments in the healthcare sector to reduce the effects of the pandemic, development of wireless devices to remotely monitor patients during the crisis, and rising demand for advanced robotic solutions in hospitals would support the growth of the system on module the market in the coming years.

Aaeon; Advantech Co. Ltd; Avnet Inc.; Value Technology Inc.; Connect Tech Inc.; Congatec GmbH; Emac, Inc.; Somlabs; and Microchip Technology, Inc. are a few major companies operating in the system on module (SoM) market.

System on Module Market — by Region, 2020 and 2028 (%)
System on Module Market — by Region, 2020 and 2028 (%)

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