The global system-on-chip market is anticipated to surpass a valuation of USD 207.21 billion by the end of 2023, attaining a CAGR of 8.3% during the forecast period (2018-2023), Market Research Future (MRFR) unveils in a detailed report. System-on-chip can be defined as an integrated circuit on which electronic components are combined, like control units, transistors, peripherals, memory units, and others. SoC consist of both software and hardware, resulting in improved response time along with efficient power consumption. It is similar to the CPU of a computer. For instance, it occupies less space and is compact.
Market Potential and Pitfalls
The global System-On-Chip Market has witnessed a tectonic surge over the past few years. The market’s growth is chiefly directed by the surging demand for compact, smart, and power-efficient electronic devices. The SoC market is witnessing rapid adoption of IoT, owing to the increased penetration of Wi-Fi connectivity, technological advancements made in wireless network technologies, surging demand for smart wearable, and rapid adoption of the cloud platform. The SoC market has witnessed a considerable growth owing to the surging applications in end-users sector, with smartphones having the largest share in the global market. Moreover, industries like consumer electronics, telecommunications, and healthcare are considered leading verticals in the adoption of SoC technology. The high availability of cost-effective silicon chip and advancements in the manufacturing process are creating new growth opportunities for the market across the world.
On the contrary, the high initial cost of design and development, along with its maintenance, is anticipated to restrict the growth of the SoC market in the foreseeable future.
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Global System-On-Chip Market: Segmental Analysis
The global system-on-chip market is segmented on the basis of type and application.
- By type, the global system-on-chip market is segmented into digital signal, analog signal, and mixed signal.
- By application, the global system-on-chip market is segmented into healthcare, consumer electronics, automotive, telecommunication, and others. Among these, the consumer electronics segment will gain prominence. The key factor propelling the growth of consumer electronics is the growing need for scalable and compact Is. The increased penetration of smartphones is also considered to boost the demand for SoC in consumer electronics.
The major players in the system-on-chip market are Intel Corporation, Qualcomm Incorporated, Samsung Electronics Ltd, NXP Semiconductors N.V., Toshiba Corporation, Broadcom Limited, STMicroelectronics N.V., Apple Inc, MediaTek Inc, and Taiwan Semiconductor Manufacturing Company Limited.
Other players in the system-on-chip market are Infineon Technologies, Maxim Integrated Products Inc, Microchip Technology Inc, Texas Instruments, ON Semiconductor and many others.
Geographically, the system-on-chip market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
The Asia Pacific will dominate the global market due to the surging demand for advanced consumer electronics, especially from nations like India, China, Taiwan, South Korea, and Japan. Increased production of automobiles, growing adoption of industrial automation, and rising investments in communication network infrastructure are some of the key factors creating growth opportunities for the market in this region.
The increased adoption of IoT-based technologies integrated with consumer appliances is gaining popularity in North America. This is estimated to bolster the growth of the regional market in the coming years.
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- SoC Manufacturers
- SoC Distributors
- Research/Consultancy firms
- Vendors from various industry verticals such as Automotive, and Electronics & Semiconductors among others
- Semiconductor Manufacturers
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