The system on module market is projected to capture a valuation of US$ 1.15 billion in 2023, and is anticipated to rise to US$ 4.65 billion by 2033. The market is estimated to register a CAGR of 15% during the forecast period.
The rising urbanization, digitization, online presence, and adoption of advanced Artificial Intelligence technology are increasing the demand for system on module. Improving the performance of consumer electronics, including smartphones, laptops, tablets, and computers, is driving the market growth. Electronic manufacturers develop a chipboard in the system to operate specific tasks, increasing the demand for system on module.
Innovation of 5G, the Internet of Things, and other advanced technologies fuel the market expansion. Several end-use industries, such as transportation, medicine, industrial automation, and entertainment, are increasing the adoption of system on module. Growing demand for high accuracy, advanced memory, and limited risk of errors on the system are increasing the adoption of system on module.
Automobile manufacturers developing advanced autonomous cars with machine learning and sensor technologies are flourishing the market opportunities. Growing demand for embedded systems and cloud-based technologies are increasing the sales of system on module. The innovation of wearable and wireless devices, such as smartwatches, is flourishing the market growth. The adoption of industrial robots and machine learning technology bolsters the market size.
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Key Takeaways:
- The system on modulemarket is expected to have a valuation of US$ 4.65 billion by 2033.
- With a CAGR of 15%, the global market is expected to increase from 2023 to 2033.
- The United States system on module marketis anticipated to secure a maximum share through 2033.
- In the historical period, the market secured a CAGR of 14.1% between 2017 and 2022.
- In the historical period, the market captured US$ 1.01 billion between 2017 and 2022.
Who is Winning?
The prominent vendors are the leading players in the market that invest a vast amount in acquiring maximum profits. These focus on consumers’ expectations and developing better innovative products that satisfy their requirements. The players are adopting several marketing tactics with advanced technologies to achieve their goals in the global market.
Marketers are developing several advanced devices for end-use industries to reduce workloads and labor work. They are expanding their business to another height through their marketing skills, ideas, and research & development activities. These marketing tactics are mergers, product launches, acquisitions, partnerships, and collaborations.
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Other Prominent Players in the Market are:
- Advantech Co Ltd.
- ConnetTech Inc.
- AAEON Technology
- Avnet Inc.
- EMAC Inc.
- Avalue Technology
- Axiomtek Co. Ltd.
- Eurotech Inc.
- National Instruments
- SECO S.P.A.
- VIV Technologies Inc.
- Kontron ST & G
- Phytec
- Microchip Technology
- Emac Inc.
- Unex Technology
- Digi International Inc.
- Variscite
Recent Developments in the Market are:
- In October 2021, Seco announced its acquisition with Garz and Fricke Group to expand its strength in the European market.
- In September 2021, TechNexion announced its partnership with Emteria for developing and uplifting embedded products on the Android operating system.
- In 2022, SiFive partnered with BrainChip to design optimized chips with machine learning and Artificial Intelligence technologies for computing edge.
- In 2020, e2-s and SoMLabs collaborated on custom design products based on SOMs.
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Market by Category
By Product:
- Power Architecture
- ARM Architecture
- x86 Architecture
By Application:
- Medical
- Transportation
- Industrial Automation
- Entertainment
- Test & Measures
By Standard:
- SMARC
- Qseven
- COMExpress
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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