According to the report by Expert Market Research (EMR), the global system on module market reached a value of around USD 1.67 billion in 2023. Aided by the rising demand for small-sized and high-performing computing solutions, the market is projected to grow at a CAGR of 11.1% between 2024 and 2032 to reach a value of nearly USD 4.30 billion by 2032.
System on module (SoM) technology, comprising versatile and compact modules that integrate key functionalities of a complete system on a single microchip, stands at the forefront of driving innovation across various industries. These modules offer the advantage of significant time and cost savings in the development process of complex systems, facilitating rapid deployment and greater scalability.
The global system on module market growth is fundamentally driven by the escalating demand for more efficient, compact, and easily deployable computing solutions. As industries continually seek to enhance operational efficiencies and product functionalities, SoM technologies emerge as a critical enabler, offering unprecedented flexibility and performance.
Another significant factor propelling the system on module market expansion is the burgeoning IoT (Internet of Things) sector. The integration of SoM in IoT devices streamlines the development process, enabling faster time-to-market for innovative products that cater to the ever-evolving consumer needs and industry standards.
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Moreover, the push towards automation in manufacturing, known as Industry 4.0, leverages SoM technology to achieve higher precision, reliability, and connectivity in industrial control systems. This trend not only enhances production capabilities but also drives the demand for SoMs in the industrial sector.
Technological innovations in SoM components, including more powerful processors, enhanced memory capacities, and improved connectivity options, have broadened the application spectrum for SoM solutions. From advanced robotics and automotive systems to sophisticated healthcare devices and smart home technologies, SoMs are increasingly becoming the backbone of modern electronic design. This is expected to drive the global system on module market growth.
The market is also witnessing a shift towards more energy-efficient and smaller footprint modules, catering to the growing demand for portable and wearable technologies. These advancements present lucrative opportunities for SoM manufacturers to explore new markets and applications, further accelerating market growth.
The integration of AI and ML capabilities into SoM platforms is transforming industries by enabling smarter, autonomous systems that can learn from data, improve over time, and make decisions with minimal human intervention. This leap forward is crucial for developing advanced applications in autonomous vehicles, smart cities, predictive maintenance, and personalised healthcare, among others. As AI and ML technologies continue to advance, the demand for SoMs that can support these high-compute tasks while maintaining efficiency and reliability is expected to surge, contributing to the global system on module market growth.
As the world gravitates towards sustainability, the SoM market is also under the microscope for its environmental impact. Manufacturers are increasingly focusing on developing energy-efficient modules that reduce power consumption and designing products with longer life cycles to minimise electronic waste. Moreover, the adoption of green manufacturing practices and the use of recyclable materials are becoming critical considerations for SoM providers aiming to align with global sustainability goals. This is expected to drive the global system on module market development in the forecast period.
Despite the promising outlook, the SoM market faces challenges such as the need for standardisation across modules and the integration complexities with existing systems. However, key players are actively engaged in research and development activities to overcome these hurdles and enhance compatibility and ease of integration.
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Strategic partnerships and collaborations among SoM providers and end-use industry leaders are pivotal in driving innovation and ensuring the seamless adoption of SoM technologies across various domains. These alliances are instrumental in developing tailored solutions that meet specific industry requirements, fostering a more interconnected and efficient technological ecosystem.
As the global system on module market continues its upward trajectory, it is set to redefine the landscape of embedded system development and deployment. With its compelling advantages and wide-ranging applications, the market is poised for significant expansion, promising a new era of technological innovation and industry transformation. The forecast period will undoubtedly witness the emergence of new growth avenues, propelled by continuous advancements and strategic initiatives in the market, cementing its status as a cornerstone of modern technological solutions.
Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- ARM Architecture
- X86 Architecture
- Power Architecture
- Others
Market Breakup by Application
- Automotive
- Chemical and Petrochemical
- Energy and Power
- Food and Beverages
- Oil and Gas
- Healthcare
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global system on module market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
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