NEW YORK, July 10, 2018 (GLOBE NEWSWIRE) -- The global system-on-chip (SoC) market was valued at USD 33.4 billion in 2017 and is expected to reach USD 128.1 billion by 2024, at a CAGR of 19.3%. Factors driving the growth of the market are; increasing demand for power efficient electronic devices, advancements in technology, and rising adoption of miniaturized consumer electronics. Moreover, adoption of SoCs in nano robots and increased demand for embedded graphics is further propelling the market growth. Though, system on chip has huge potential, but complex design and maintenance may restrain the market growth to some extent.
System-on-chip (SoC) refers to an integrated circuit on which various electronic components are combined such as transistors, memory units, control units, peripherals, and others, depending on the type of application. It includes both hardware and software that result in better response time with efficient power consumption. SoC is an effective way to increase the performance of the device and helps to meet the increasing computational demand. Meanwhile, advancement in manufacturing process and availability of cost effective silicon chip for specific hardware is expected to create ample opportunity for many players in the semiconductor market.
Increasing adoption of smart devices in consumer electronics
In order to meet the requirements of all the components of a computer in a single substrate, system-on-chip is introduced. The rising demand for smart phones, laptops, tablets and PCs owing to the requirement of faster speed is resulting in the growth of telecommunication and consumer electronics industry. The demand for distributed intelligent sensor arrays and advanced mobile applications will lead to the integration of RF into SoCs. The density of gates on the die has increased in line with rapid advances in semiconductor processing technologies such as VLSI, and thus allowed the realization of complicated designs on the same IC. With the advent of bleeding edge technological applications such as 3rd generation mobile devices and HDTV, there is an increasingly evident need for incorporating traditional memories, microprocessor and peripherals, i.e., the whole system, on a single chip. Implementation of system on chip provides better functional flexibility as well as processing capability.
System-on-Chip Market - Regional Insight
Asia-Pacific is expected to dominate the global system-on-chip market, followed by North America. The growth in the Asia-Pacific region is attributed to the increasing acceptance of connected devices, increasing adoption of IoT based technologies in various end-user industries, and rising demand for power efficient electronic devices such as smart phones and wearables. Moreover in terms of revenue, China is expected to hold the major market share in this region due to the increasing usage of smart devices across the country. North America is anticipated to show a significant growth rate, owing to the increasing adoption of consumer appliances.
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Key findings from the report:
- On the basis of type, mixed signal SoCs have dominated the global market in 2017, and are expected to continue their dominance over the forecast period due to low power consumption by mixed signal SoCs. Moreover, digital SoCs are expected to register highest CAGR over the forecast period.
- Based on application, smart phones held the major share of the market, and are expected to register the highest CAGR during the forecast period
- Consumer electronics is the leading end-use segment in terms of revenue. The growth in the segment is attributed to the technological advancement in electronic devices including tablets, smart phones and watches. Moreover the healthcare (medical devices) segment is expected to grow at the highest CAGR in the coming years
- Key players in the global system-on-chip market includes Qualcomm Inc.; Infineon Technologies AG; STMicroelectronics N.V.; Intel Corporation; Samsung Electronics Co. Ltd.; ON Semiconductor; Apple Inc.; Texas Instruments, Incorporated.; Broadcom Limited; Taiwan Semiconductor Manufacturing Company, Ltd.; Microchip Technology, Inc. among others
The report segments the global system-on-chip market on the basis of type, application, end-use, and region.
- Mixed Signal
- PC/ Laptops
- Gaming consoles
- Networking Devices
- Digital Cameras
- Consumer Electronics
- IT & Telecommunication
- Aerospace and Defense
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC
- Rest of the World (RoW)
- Middle East and Africa
- South America
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