The system on module market is predicted to register a valuation of USD 1.15 billion in 2023, and is estimated to rise to USD 4.65 billion by 2033. The market is anticipated to record a CAGR of 15% during the forecast period. The factors accelerating the demand for system on module are as follows:
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The hardware manufacturers are focusing on developing multiple functionalities in the system on the module to reduce the complexity of designing. However, the rising cost of setting up advanced technology devices may also restrain the market growth by low and middle-income people. Moreover, the adoption of highly integrated systems makes devices more complex.
Adding multiple components, such as operating voltages, modes, and various functionality, are declining the market growth. In addition, lack of skilled experts or trained system operators may restrain the market growth rate.
Attributes | Details |
---|---|
Market CAGR (2023 to 2033) | 15% |
Market Valuation (2023) | USD 1.15 billion |
Market Valuation (2033) | USD 4.65 billion |
According to Future Market Insights, the global system on module market is predicted at a healthy 15% CAGR during the forecast period. Historically, the market registered a CAGR of 14.1% between 2017 and 2022.
Several end-use industries, such as industrial, electronic, medical, and transportation, are growing their market share by securing a maximum share in recent years. For example, during the COVID-19 crisis, the system on module manufacturers developed advanced medical devices to detect infections before symptoms. In addition, these manufacturers develop medical appliances such as remote devices, testing equipment, and other healthcare services with the adoption of the Internet of Things.
The uncertainty of the COVID-19 crisis faced several challenges in the market. The slowdown of the supply chain, distribution channels, and low production due to temporary lockdowns declined the market growth. It harmed end-use industries.
The market is estimated to reach USD 4.65 billion during the forecast period. Historically, the market stood at USD 1.01 billion from 2017 to 2022.
Based on product type, power architecture dominates the global market by occupying a growth rate of 5% by 2033. The increasing demand for high efficiency, seamless compatibility, better integration, and advanced performance increases the demand for power architecture. Furthermore, end-user industries such as industrial and networking applications are increasing the adoption of power architecture due to high-speed communication. In addition, embedded solutions and networking equipment fuel the market growth.
Based on the standard, the Qseven category is projected to secure a growth rate of 15% by 2033. In addition, adopting the Qseven category, which is widely used for smart home applications to enhance computing performance, is driving market expansion. The rising demand for Qseven increases due to its low power consumption and capability of flexible design, thus driving the market growth.
The increasing demand for Qseven enhances storage capability. In addition, the end-user industries are expanding the market by fueling networking applications with the adoption of the Internet of Things.
Based on application, the industrial automation sector is projected to capture a maximum valuation of USD 3 billion by 2033. The rapidly growing advanced technologies, such as robotics, Artificial Intelligence, embedded solutions, and proper utilization of systems on the module, are driving the industrial automation sector.
Limiting human labor, adopting automated equipment & machinery, and garnering safety are surging the manufacturing facilities in industrial automation. In addition, the innovation of industrial robots and the development of embedded systems fuel the market opportunities in the sector.
The United States is estimated to secure a valuation of USD 350 million during the forecast period. The growing requirements for automated solutions in the industrial sector for their progression drive the market opportunities in the United States. Several organizations are adopting the Internet of Things and advanced technologies that are accelerating the demand for system on module in the United States.
Growing investment in the latest technology, the presence of key vendors, and government initiatives are expected to bolster the United States market. On another side, shifting consumer preference for Artificial Intelligence and robotics in the manufacturing industry propels the market expansion.
According to a report, nearly 69% of homes in the United States have at least one smart home technology product. Smart home technology devices are speakers, indoor HVAC control systems, robots, smart security systems, and others. In addition, as per another report by Pew Research Center in 2020, around 21% of United States adults wear fitness bands and watches.
The United Kingdom is the second leading nation that is anticipated to capture a relevant share of the market during the forecast period. Increasing demand for smart and Artificial Intelligence medical equipment in the healthcare sector is driving the United Kingdom’s market size.
The innovation of wireless and wearable devices, such as smartwatches and bands for monitoring patients' health, is uplifting market growth. Furthermore, the development of the Internet of Things is widely used in automobiles, smart homes, and kitchens, which is expected to fuel the United Kingdom system on module market.
Universities and colleges are increasing the adoption of system on module to operate computer systems to get information and learn online. In addition, the increasing demand for e-books and e-learning is growing the market opportunities in the United Kingdom.
The Asia Pacific is anticipated to be the dominating region in the global market during the forecast period. Rising innovative technologies and the automation industry are fostering the Asia Pacific system on module market. India and China are the prominent leaders in the Asia Pacific market that fuel the global market.
Increasing demand for electronic components, including boards, SoCs, and processors, is surging the electronic industry in India. Furthermore, growing automation cars equipped with advanced technologies and innovation on medical devices are expected to flourish the Indian system on module market growth. In addition, the end-use sectors such as entertainment and transportation are rapidly expanding the market opportunities in India.
China is another nation in the Asia Pacific region that is predicted to secure a relevant share of the global market by 2033. The increasing production of semiconductors and consumer electronics gadgets propels market growth in China. Growing production of chip packaging, smart wearable, and smartphones are surging the China system on module market. Additionally, the growing telecommunication and automotive components industries are anticipated to bolster the China market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The key players play a crucial role in the global market by acquiring a maximum share. The system on module manufacturers is innovatively advanced equipment that is easy to operate for several end-use industries to reduce workloads. Prominent investors make deals to acquire maximum profits by investing millions of dollars in the global market.
These vendors deeply analyze the latest technology and products through research & development activities. They are focused on end-users' demands and launch innovative products that satisfy their requirements easily. They attract consumers with budget-friendly equipment and advanced technologies through several marketing methodologies. Market players are adopting various marketing strategies to expand the market revenue: mergers, agreements, collaborations, acquisitions, partnerships, and product launches.
Other Prominent Players in the Market are:
Recent Developments in the Market are:
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2017 to 2022 |
Market Analysis | USD billion for Value |
Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
Key Segments Covered | Standard, Product, Application, Region |
Key Companies Profiled | 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 |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
By 2033, the market will expand at a 15% CAGR.
The 2022 market value is USD 1.15 billion.
From 2017 to 2022, the market expanded at a 14.1% CAGR.
The United States will expand at a 14.7% CAGR by 2033.
Power architecture is expected to be highly preferred.
1. Executive Summary | System on Module Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Hardware 5.2. Software 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. ARM Architecture 6.2. x86 Architecture 6.3. Power Architecture 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 7.1. Chemical & Petrochemical 7.2. Oil & Gas 7.3. Energy & Power 7.4. Automotive 7.5. Food & Beverages 7.6. Healthcare 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Portwell 18.2. Eurotech 18.3. SECO srl 18.4. Technexion 18.5. Phytec 18.6. Axiomtek 18.7. Aaeon 18.8. Avalue Technology 18.9. MSC Technologies 18.10. Advantech Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Industrial Automation Insights
View Reports