A Comprehensive Overview of the System on Module Market 2023 | Industry Expected to Reach 5,103.8 Million by 2030 | MRFR
Research Reports
Feb 09, 2023
According to market research future insights analysis, the global System on Module Market is expected to register a CAGR of ~ 8.3% from 2022 to 2030 and hold a value of over ~ USD 5,103.8 Million by 2030.
The primary reasons driving the system’s expansion on module market will be the increased adoption of cutting-edge technologies, such as the internet of things, across various end-use sectors. The demand for system on modules will be further exacerbated by the rapid growth in data volume and the increasing demand for software-defined radio (SDR). Additionally, the main drivers of the system on module market’s expansion are the growing adoption of cloud-based technologies by small and medium-sized businesses, the rising demand for advanced aerial imaging technology among different end-user verticals, and the rising use of system on modules for a variety of applications including industrial automation, medical, entertainment, transportation, test and measurement, communication, and other areas. Other factors supporting the growth of the system on module market include the rise in demand for embedded devices and technologies in the medical industry, the advancement of self-driving automobiles in developed economies, and the proliferation of industrial automation processes. On the other hand, the system on module market will, nevertheless, have growth restraints due to a lack of competent labor or qualified knowledge. The system’s growth rate on module market will be further slowed down by system complexity in x86-based modules. The high cost of the modules will also slow the market expansion rate.
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System on Module Market Key Players
Some key market players are
- AAEON Technology Inc. (Taiwan)
- Advantech Co. Ltd (Taiwan)
- Avnet Inc. (US)
- Avalue Technology (Taiwan)
- Axiomtek Co. Ltd (Taiwan)
- Connect Tech Inc. (Canada)
- Congatec AG (Germany)
- EMAC Inc. (US)
- Eurotech Inc. (US)
- Microchip Technology Inc. (US)
- National Instruments Corporation (US)
- Phytic (Germany)
- Kontron S&T AG (Germany)
- SECO S.p.An (Italy)
- TechNexion Ltd. (Taiwan)
- Toradex (Switzerland)
- VIA Technologies Inc. (Taiwan).
Report Scope:
|
Report Attribute/Metric |
Details |
|
Market Size in 2030 |
USD 5,103.8 Million |
|
Growth rate: |
CAGR of 8.3% (2022-2030) |
|
Forecast Period |
2022-2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Regional Analysis
North America dominated the market for system on module in 2021. The expansion of the market is attributed to the region’s numerous industries, including the medical and manufacturing sectors, adopting new disruptive technologies like AI and IoT at a rising rate. Additionally, system on modules is built into wearable medical devices such as blood glucose monitors, Fitbit, optical heart rate monitors, and pulse oximeters. The ongoing development of AI-based therapeutic and diagnostic devices for a range of medical applications, including remote patient monitoring and real-time diagnosis, will also support the market. The government has taken variouus initiatives to encourage the use of AI and other digital technology, which will aid in the market’s growth in the years to come.
Asia Pacific to register lucrative growth in the market for system on module because there are more semiconductor producers and more people are utilizing new, enhanced technology. Another factor boosting the market growth rate is the increasing adoption of internet of things technologies. Additionally, the Asia Pacific region’s electronics manufacturing industry is being driven by the region’s plentiful supply of raw materials. The consumer electronics industry in the Asia Pacific region, which is expanding rapidly, is driving up demand for efficient electronic components, including boards, processors, SoMs, and SoCs, creating substantial potential prospects for the market.
Market Segmentation
The global system on module market has been segmented into component, hardware type, standard and application.
Based on components, the system on module market has been segmented into hardware and software. The hardware category accounted for the largest share of the market in 2021. A ready-to-use, small form-factor computing solution called a system on module (SoM) comprises application-neutral hardware and software that can be used to build any embedded product. On a single production-ready printed circuit board, the SOM provides the essential elements of an embedded processing system, including memory blocks, communication interfaces, and processor cores.
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Based on the hardware type, the system on module market has been segmented into ARM, x86, power, FPGA, GPU and RISC-V. The ARM category accounted for the largest revenue share in 2021 in the system on module market. The lower complexity provided by ARM-based processors in comparison to x86 processors in various boards and modules is credited with the growth. Due to their single-cycle processing and constrained instruction sets, ARM is in high demand for various consumer electronics products, including tablets, smartphones, multimedia players, and other wearable devices, promoting industry growth.
Based on the standard, the system on module market has been segmented into QSEVEN, COMExpress and SMARC. The QSEVEN category accounted for the largest revenue share in 2021 in the system on module market, influenced by the expanding use of this standard in the production of nano & small SoM devices. It has a standardized form factor of roughly 70mm by 40mm. It provides excellent performance, making it the perfect option for applications with limited space, like mobile medical devices, sophisticated industrial control systems, and home energy management systems.
Based on the application, the system on module market has been segmented into industrial automation, entertainment, medical, transportation, test and measurement, video application and others. The industrial automation category accounted for the largest revenue share in 2021 in the system on module market. The growth in acceptance of industrial robots for automation in various manufacturing processes is credited with propelling the industry forward. The deployment of industrial robots and other contemporary automated technologies, such as Programmable Logic Controllers (PLC) and Human-Machine Interface (HMI), has increased due to the trend toward smart factories, increasing industry demand.
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