The ‘Global System on Module Market Size, Share, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global system on module market, assessing the market on the basis of its segments like type, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
System on Module Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 1.5 billion
- Forecast CAGR (2023-2028): 11.10%
- Forecast Market Size (2028): USD 2.82 billion
The global system on module market is being driven by the rapidly rising demand for various embedded systems due to their superior computing performance and low power consumption. System on module offer various benefits including reduced cost of main printed circuit boards, stability for building embedded systems, and design reuse features. Accordingly, more developers are utilising system on module to design and build connected devices for next generation Internet of Things (IoT) applications. System on module also facilitate advanced memory and system on chip with low error risks, further increasing the growth of the system on module market. Industries worldwide are adopting system on modules due to their increased accuracy and versatility.
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The increasing adoption of power architecture type of system on module is anticipated to augment the market for system on module globally in the coming years. Processors that are based upon power architecture support efficient integration for seamless compatibility between the hardware and software for improved performance. As power architecture offers higher performance with greater processing power, they are widely preferred for use in critical application such as automotive and aerospace where failure can cause severe consequences. As they consumer less power, the power architecture type of system on module is considered suited for various battery powered devices.
System on Module Industry Definition and Major Segments
System on module or SoM refers to a board-level circuit upon which system functions are integrated into a single module, connecting analogue and digital functions on a single board. Also known as computer on module, an SoM acts as a centralised printed circuit board (PCB) with various components of embedded processing systems.
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Based on type, the market is divided into:
- ARM Architecture
- X86 Architecture
- Power Architecture
- Others
By application, the market is segmented into:
- Automotive
- Chemical and Petrochemical
- Energy and Power
- Food and Beverages
- Oil and Gas
- Healthcare
- Others
On the basis of region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
System on Module Market Trends
Rising popularity of wearable healthcare devices is among the key trends in the global system on module market. Miniaturisation of system on modules without sacrificing performance or capability and their low power requirements have surged their usage in wireless and portable devices.
Wearable healthcare devices based on system on module are increasing in demand due to the improved tracking features of such devices and growing awareness regarding the need for tracking healthcare parameters. For patients with chronic health conditions or those at risk for health issues, wearable healthcare devices can provide an effective means of tracking health around the clock without interference in day-to-day life.
Advancements in system on module technology are likely to further increase the applications of the system on module market in coming years. Development of application and task-specific system on module, and combination with other emerging technologies such as artificial intelligence are providing lucrative opportunities for market growth.
Regionally, the Asia Pacific accounts for a sizable share of the global system on module market, supported by increasing industrialisation in countries such as China and India, and presence of a strong manufacturing base in the region. Rising penetration of technologies such as Internet of Things and increasing adoption of system on module by end-user sectors are further augmenting the market for system on module in the Asia Pacific.
Key Market Players
The major players in the global system on module market report are:
- VIA Technologies, Inc
- Toradex AG
- PHYTEC America LLC
- TechNexion Ltd.
- SECO S.p.A
- Microchip Technology Inc
- Kontron AG
- EMAC, Inc.
- AAEON Technology Inc.
- Connect Tech Inc
- Axiomtek Co., Ltd
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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