The Global Market for System-on-a-Chip is Projected to Approximate to Over US$310.2 Billion by 2024
Rise in
Production of Smart Connected Devices Drives Opportunities for Growth in the Global
System-on-a-Chip Market, According to a New Report by Global
Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global System-on-a-Chip (SoC) market.
The global
market for System-on-a-Chip is projected to approximate to over US$310.2
billion by 2024, driven by rising demand for
multi-core technologies, smart, and growing demand for energy efficient
electronic devices across industrial, automotive and consumer electronics
markets.
A
System-on-a-Chip (SoC) is an integration of all key or essential electronic
components of electronic systems on a single integrated circuit. The global SoC
market is at present mainly driven by growing demand for smart, energy
efficient electronic devices across industrial, automotive and consumer
electronics markets. In the near to mid-term rapidly-growing areas such as the
Internet of Things and automotive semiconductors are expected to drive
significant gains in the SoCs market. Rapid proliferation of Internet and
growth in Internet user base have been driving tremendous growth in use and
therefore demand for ‘connected’ devices powered by SoCs with internet centric
applications thus lending traction to the market. Demand prospects for SoCs
going further will especially emerge from developing markets of Asia-Pacific,
given the huge electronics manufacturing and semiconductor fabrication base
established in the region.
Development
of newer generations of SoCs featuring multi-core technologies and embedded
graphics systems has additionally lent traction to growth in the SoC market.
Newer SoCs featuring increasing number of cores augurs well for its future. The
automobile industry’s drive towards self-driving cars and growing requirement
for high-level processing chips is expected to further drive innovations in the
market. As SoCs move towards advanced geometries, the designs are expected to
include enhanced functional integration and low power consumption, which
outweighs cost barriers. 7nm SoCs represent the next milestone in the mobile
industry with several players making aggressive moves to design the new IC
chips. The new chip architecture significantly increases the number of
transistors per square millimeter while minimizing the overall SoC power. The proliferation of companies and startups in
the artificial intelligence space is giving way to new opportunities for chip
manufacturers. As artificial
intelligence becomes more pervasive, demand for AI
chips in various industrial and consumer devices is expected to proliferate in the
coming years. Amidst the increasing demand for high-speed,
low-latency networks for diverse demanding applications companies are focused
on developing chips that could accelerate the roll-out of 5G networks and
support 5G applications. Further with AI investments by both cloud providers
and enterprises on rise, investments into data center infrastructure and
services is expected to increase in future, hence driving the demand for
powerful SoCs for data centric applications.
As
stated by the new market research report on System-on-a-Chip
(SoC), Asia-Pacific represents the largest
and the fastest growing regional market with a CAGR of 10.7% over the analysis
period. The growth in the region is led by factors such as rapid industrialization,
increased production of electronic devices in response to growing consumer
demand, rising income levels, continuous development of cellular markets, and rising
4G/5G penetrations.
Major
players in the market include Apple, Inc., ARM Holdings Plc, Broadcom
Corporation, Infineon Technologies AG, Intel Corporation, Marvell Technology
Group Ltd., Microsemi Corp., NVIDIA Corporation, NXP Semiconductors N.V.,
Palmchip Corporation, Qualcomm Incorporated, Renesas Electronics Corporation,
Samsung Electronics Co., Ltd., STMicroelectronics, Taiwan Semiconductor
Manufacturing Co., Ltd., Texas Instruments, Inc., Toshiba, and Xilinx, Inc.
The
research report titled “System-On-A-Chip
(SoC): A Global Strategic Business Report”
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, growth drivers, issues, and recent industry activity of major
companies worldwide. The report provides market estimates and projections for
major geographic markets including the United States, Canada, Japan, Europe
(France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific
(China, South Korea, Taiwan and Rest of Asia Pacific), and Rest of World. The
report analyzes the SoC market by product types - Mixed Signal SoCs and Other
SoCs.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To connect with us, visit our LinkedIn page.
Comments
Post a Comment