Selbyville, Delaware, Dec. 08, 2020 (GLOBE NEWSWIRE) —
According to latest report “System on Module (SoM) Market by Product (ARM, x86 Architecture, Power Architecture), Standard (Qseven, SMARC, COMExpress), Application (Industrial Automation, Medical, Entertainment, Transportation, Test & Measurement), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of system on module will cross $2.5 billion by 2026.
The market growth is driven by the increasing adoption of IoT technology in smart and connected solutions across various industries. SoM offers several benefits in IoT solutions such as advanced SoC & memory, optimized product development cost, and reduced error risk. Several initiatives by the government to accelerate IoT development are further fueling the market value.
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The power architecture segment in the system on module market is expected to witness around 3% growth rate till 2026. Processors with power architecture accelerate the integration capability, offer effective hardware/software compatibility, and improve performance. These features accelerate the demand for power architecture SoM in networking and industrial applications such as general embedded solutions and embedded networking equipment. Companies are continuous engaged in the development of new products to deliver high competitiveness in the industry.
The SMARC segment accounted for 15% of the SoM market share in 2019 and is predicted to expand at a CAGR of more than 12% through 2026 led by the rising acceptance of low-power and compact size consumer applications. Market participants are accelerating their innovations with SMARC 2.0 version, thus boosting their offerings for multiple independent displays and demand in media applications. Companies are continuously involved in new product development with SMARC standard to accelerate demand in new application areas such as infotainment systems, machine vision, digital signage devices, etc. In November 2020, Renesas Electronics Corporation developed its new system on module with SMARC architecture. It is a combination of 10 Renesas ICs, power & analog ICs, and microprocessors, which will accelerate their demand in AI/IoT object detection, HMI & embedded vision, and industrial automation applications.
The medical application in the system on module market held over 15% revenue share in 2019 and will grow at a CAGR of 8% during 2020 to 2026 owing to the growing adoption of artificial intelligence in the medical industry, which helps in managing patients in real-time and optimize results with high accuracy. These embedded systems are widely adopted in monitoring respiratory systems, blood pressure, and wearables devices. Additionally, the increasing demand for miniaturized, portable, and wireless technologies in the medical sector, such as wearable fabrics and surgical implements, is encouraging the market expansion. To cater to the high demand in the industry, companies are continuously focusing on new product development.
Europe system on module market accounted for 40% revenue share in 2019 and is estimated to register growth of 9% till 2026 due to the rising development of autonomous vehicles in the region. According to the European Patent Office, the registered patent application in Europe related to autonomous vehicles is increasing 20 times faster compared to other technologies. Increasing support by governments to accelerate autonomous vehicle development will further augment the market growth.
Major players operating in the SoM market are Advantech Co., Ltd, congatec AG, Digi International, Inc., Eurotech, Inc., Kontron S&T AG, National Instruments Corporation, and VIA Technologies, Inc., among others. Companies are continuously focusing on new product development to gain high competitiveness among other players. Industry leaders are also forming several collaboration and merger strategies to increase SoM development and accelerate their market position.
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Some major findings of the system on module (SoM) market report include:
- The proliferation of AI and IoT technologies is accelerating the usage of SoM in new applications areas such as facial recognition, medical surgeries, and various smart home applications.
- The growing adoption of smart factories across the globe is enhancing the SoM market share during the forecast timeline. High energy efficiency and smaller footprint of SoMs are accelerating their adoption in industrial robots, human-machine interface, etc.
- ARM processors offer several benefits, such as high-performance computing and low-power consumption, which increase their usage in various IoT applications, smart devices, ADAS, and other cloud-based monitoring systems.
- The growing demand for smart traffic management systems in transportation is accelerating the market value for vehicle-to-vehicle communication, telematics, and instrument clusters.
- Increasing initiatives by the Government of South Korea to propel the next-generation semiconductor process with AI technologies are creating growth opportunities for the market.
- The COVID-19 pandemic has resulted in the suspension of several automotive manufacturing plants, restraining market opportunities for SoM. The lockdown imposed by governments has also resulted in the lack of engineers in production facilities, further declining new product development in the industry.
Table of Contents (ToC) of the report:
Chapter 3 System On Module (SoM) Market Insights
3.1 Industry segmentation
3.2 Impact analysis of corona virus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Impact by region
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material & component supplier
3.3.2 Manufacturers
3.3.3 System integrators & developers
3.3.4 Distribution channel
3.3.5 End-user
3.3.6 Vendor matrix
3.4 Overview of form factors/ standards
3.4.1 COM Express
3.4.2 SMARC
3.4.3 QSeven
3.5 Technology & innovation landscape
3.5.1 Evolution of System on Modules
3.5.2 Recent advancements
3.5.3 Future scope for improvement
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.7.2.1 Increased system complexity in x86-based modules
3.8 Growth potential analysis
3.9 Porter’s analysis
3.9.1 Industry rivalry
3.9.2 Threat of new entrants
3.9.3 Buyer power
3.9.4 Supplier power
3.9.5 Threat of substitutes
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/system-on-module-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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