System on Chip (SoC) Market Expected to Reach USD 214.8 Billion at a CAGR of 8.30% CAGR by 2030 - Report by Market Research Future (MRFR)

Growing Need for AI Chip Technology to Boost SoC Market Growth

New York, New York, UNITED STATES

New York, US, Sept. 21, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “System-On-Chip Market Research Report, Type, Application— Forecast till 2030”, the market is anticipated to acquire a valuation of approximately USD 214.8 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.30% during the assessment timeframe.

SoC Report Scope:

Report MetricDetails
  SoC Market Size by 2030USD 214.8 Billion
  SoC Market Growth8.30% CAGR (2022-2030)
  SoC Market OpportunitiesThe global electronics industry is expected to need more ICs that are compact and scalable
  SoC Market DriversIntroduction of new generation products like the FitBit and Alexa

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SoC Market Drivers 

Growing Need for AI Chip Technology to Boost Market Growth 

The growing need for AI chip technology will boost market growth over the forecast period. Consumer electronics including high-end smartphones, smart speakers, tablets, wearables, and others heavily utilize edge AI chips. These are also employed in a variety of enterprise markets, including those for robotics, photography, internet of things (IoT) devices, and other items. Both of these sectors are significant, but the consumer market for edge AI processors is far larger than the enterprise market and is anticipated to develop more slowly. Over the projected period, prominent players are anticipated to benefit greatly from the rising demand for the AI edge chip market for consumer and business devices.

System on Chip Market Opportunities 

Rising Demand for SoC to offer Robust Opportunities 

The rising demand for SoC for smartphones will offer robust opportunities for the market over the forecast period. Every smartphone device needs a system on a chip to function. Due to the affordable availability of high-quality smartphone technologies, the global market for smartphones is expanding dramatically.

Restraints and Challenges 

Constant Review of Regulatory Policies on Standardization of Chip to act as Market Restraint 

The constant review of regulatory policies on standardization of chip, advances of technology, lack of skilled AI workforce, and low return on investment may act as market restraints over the forecast period. 

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System on Chip (SoC) Market Segmentation 

The global system on chip market is bifurcated based on type, product types, fabrication methodology, and applications. 

By type, digital will lead the market over the forecast period. 

By product types, the system on chip market is segmented into Advanced Performance Multicore, Value Multicore and Basic SoC. 

By fabrication methodology, the system on chip market is segmented into Full Custom, Standard Cell, and FPGA.

By applications, consumer electronics will dominate the market over the forecast period. 

COVID-19 Analysis 

Due to the regulation of various levels of lockdown and containment regulations, the ongoing COVID-19 pandemic substantially impeded the dynamics of the global economy and had severe effects on several industries worldwide. This ultimately resulted in the closure of nearly all non-essential firms and facilities, having a severe impact on their company operations and revenues. Given the scarcity of the raw materials needed to produce the chips, the SoC market also bore the brunt of the outbreak's effects, which were caused by interrupted supply chains. Leading semiconductor participants are concentrating on maintaining business continuity plans, maintaining cyber vigilance, and bringing technology upgrades in response to COVID-19 impacts on the industry share in the post-pandemic era due to the severity & implications of this industrial crisis.

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Regional Analysis 

North America to Lead System on Chip Market 

In the market for system on a chip, North America holds the biggest market share. Large telecom and information technology (IT) corporations like Qualcomm and Apple are among the causes of this. In this region, there is still a high demand for cutting-edge electrical products. The fact that IoT devices are starting to gain popularity serves as additional support for this particularly so in the North America. The market is projected to increase significantly in North America. The top two nations in North America are the United States and Canada. This is because IoT integration with home appliances is becoming more widely used and is expected to grow in popularity in the projection period. Due to the rising need for the integration of CPU, graphics, and memory interfaces in different industries, including automotive, consumer electronics, & aerospace & military, the system-on-chip market in North America is anticipated to grow at a substantial pace in the assessment period. Due to the existence of several telecom and information technology (IT) firms, the growing acceptance of the Internet of Things (IoT), and the region's high level of disposable income, North America is predicted to dominate the system-on-chip (SoC) market throughout the projection period.

APAC to Have Significant Growth in System on Chip Market 

With the greatest market share in the world, Asia Pacific is predicted to rule the system on chip market. The leading nations on the market are Japan, Taiwan, China, and the Republic of Korea. This is due to an increase in consumer appliance demand, and the market for electronic devices is anticipated to rise in popularity among consumers. Due to the rising demand for SoCs in the consumer electronics and IT & telecommunications industries the Asia Pacific is anticipated to hold a significant proportion of the worldwide system-on-chip market over the forecast period. In the region, system-on-chips are widely employed in electronic devices such Bluetooth headsets, fitness bands, tablets, smart-watches, laptops, home appliances, & consumer electronics. Additionally, the market is getting boosted by the rise in digitization, expansion of the Internet of Things (IoT), advancements in analytics and server performance, and ongoing investments in powerful workstations and servers that use 5G technologies. And other important aspect driving the system-on-chip market in Asia Pacific is innovation in portable electronic devices such e-readers, cellphones, tablets, and flash drives. Because of the rising demand for Internet of Things (IoT)-based consumer electronics devices, accelerating technological innovation, and the presence of significant players in this region, the system-on-chip (SoC) market is predicted to grow at the quickest rate worldwide.

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Key Players 

Key players profiled in the global SoC market report include-

  • Broadcom Corporation (U.S.)
  • Infineon Technologies AG (Germany)
  • Qualcomm Inc., (U.S.)
  • Arteris IP (U.S.)
  • Texas Instruments Inc., (U.S.)
  • Intel Corporation (U.S.)
  • NXP semiconductors (U.S.)
  • Toshiba Corporation (Japan)
  • MediaTek Inc. (Taiwan)
  • STMicroelectronics N.V. (Switzerland)
  • Samsung (South Korea)

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