Technological Advancements to Drive the System on Module (SoM) Market during 2021–2028
According to our latest market study on "System on Module (SoM) Market Forecast to 2028 – Global Analysis – by Component, Hardware Type, Standard, Application, and Geography," the market is expected to grow from US$ 2,174.8 million in 2022 to US$ 3,682.64 million by 2028; it is expected to grow at a CAGR of 9.2% from 2022 to 2028.
The growing use of control systems, robotics, and the Internet of Things (IoT) technologies to maintain processes in industries is one of the prime factors driving the adoption of system on modules. The solutions incorporated with SoM features such as high accuracy, precision, and enhanced manufacturing process performance. The use of an integrated SoM is rising as it helps enhance manufacturing, product assembly, supply chain management, and logistics operations. Manufacturers are increasingly replacing their conventional computing systems with compact and cost-effective solutions enabled by SoMs. Thus, widespread applications of SoMs in industrial automation processes, including process control and discrete manufacturing, are driving the system on module market growth.
The system on module is an embedded technology that incorporates all the computing components in a single hardware module. The hardware module is integrated with software to make the system ready to use. The SoMs allow customers to use advanced technologies such as system on chip (SOC) and flash memory drives. The growing applications of SoM solutions to improve the performance, reliability, and scalability of computer systems increased their popularity among end-user industries. SoMs provide a cost-effective solution that optimizes operational costs in commercial and other applications. The development of off-shelve computers on the module and application-specific carrier boards would further fuel the market growth. Advancements in digital technology and industrial automation have significantly increased the demand for SoM solutions.
North America is anticipated to dominate the global system on module market in the coming years. The market growth in the region is ascribed to the significant presence of major healthcare & industrial automation companies in countries such as the US and Canada. North America is characterized by rapid developments in autonomous and unmanned technologies in the automotive sector. Further, the integration of electronic content in modern vehicles of Ford, Tesla, and Renault, to support uninterrupted communication and wireless connectivity is anticipated to fuel the system on module market growth during the forecast period.
The global system on module market is segmented into component, hardware type, application, and standard. Based on component, the market is bifurcated into hardware and software. Based on hardware type, the system on module market is segmented into ARM, x86, power, FPGA, GPU, DSP, and others. Based on application, the market is segmented into industrial automation, medical, entertainment, transportation, test & measurement, and others. Based on standard, the system on module market is categorized into Qseven, SMARC, and COMExpress. By geography, the system on module market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
System on Module (SoM) Market Share - by Geography, 2021
System on Module Market Size, Share, & Growth Report 2028
Download Free SampleSystem on Module Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware and Software), Hardware Type (ARM, X86, POWER, FPGA, GPU, DSP, and RISC-V), Application (Industrial Automation, Entertainment, Medical, Transportation, Test and Measurement, Video Application, and Others), and Standard (Qseven, SMARC, and COMExpress)
Aaeon; Advantech Co. Ltd; Avnet Inc.; Value Technology Inc.; Connect Tech Inc.; Congatec Gmbh; Emac, Inc.; Somlabs; and Microchip Technology, Inc. are among the leading players in the global system on module market. Companies in the market are continuously focusing on new product development to fulfill the demands of end users. Key market players are adopting strategies such as product line and geographic expansions, mergers and acquisitions, and partnerships and collaborations to extend their market reach. In May 2020, Avnet, a globally leading electronic component and service provider, developed its new Avnet XRF16 SoM for the next-generation 5G connectivity. Similarly, in April 2020, iENSO launched the Allwinner system on module for faster integration of image sensors and peripheral technologies.
The COVID-19 pandemic has adversely affected the system on module market with supply chain disruptions and production delays. Lockdowns imposed by several governments, restrictions levied on international trade barriers, and a temporary shutdown of manufacturing plants in the automotive & consumer electronic sectors are hindering the market growth. Uncertainty in the stock market and lowered business confidence have led to panic among customers. However, governments worldwide allowed relaxations in the restrictions in late 2020; they are also taking significant initiatives and providing funds to support the electronics & semiconductors sector. Further, the demand for SoMs has started to rise with the reopening of this sector. An increase in investments in the healthcare sector to reduce the effects of the pandemic, the development of wireless devices to remotely monitor patients during the crisis, and rising demand for advanced robotic solutions in hospitals are supporting the growth of the system on module market.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com