System on Module Market revenue to cross USD 3 Bn by 2027: Global Market Insights Inc.

North America system on module market is expected to expand at a CAGR of 10% through 2027 on account of the growing demand for smart home connected devices in the region.

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Selbyville, Delaware, Oct. 04, 2021 (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 2027”, by Global Market Insights Inc., the market valuation of system on module will cross $3 billion by 2027.

The system on module market growth is attributed to the growing demand for fast data processing in embedded transportation systems such as avionics, vehicles, and others. SoM has numerous advantages over multi-board modules, including being lighter, smaller, more dependable, and consuming less power. As a result, it is an excellent alternative to car navigation, positive train control, mapping, and other aerospace & defense communications. Manufacturers are focusing on creating new solutions to cater to the rising demand from a wide range of transportation applications, including trains and airplanes, among others.

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The power architecture processor type held 5% of the system on module market share in 2020 and will witness 6% growth rate through 2027. A power architecture processor offers several advantages such as improved performance, effective hardware or software compatibility, efficient power supply, and high-speed data computation. These characteristics will drive the power architecture SoM demand in networking & industrial applications such as conventional embedded solutions and embedded networking equipment. Companies are extensively involved in creating high end services & solutions to maintain competitiveness in the market.

The system on module market for COMExpress segment captured 35% of revenue share in 2020 and is estimated to attain a CAGR of 11% till 2027 led by the rising demand for embedded systems to cater to the high-speed connectivity in the telecommunication industry. SoM manufacturers are increasingly using COMExpress modules to offer high bandwidth performance for general-purpose embedded computers, POS devices, and other communication applications. Several manufacturers are engaged in supplying pre-integrated application specific SoM that works with a variety of real-time operating systems and processor architectures.

The entertainment application accounted for 5% of the system on module market share in 2020 and is expected to expand at a CAGR of more than 9% by 2027 owing to the rising integration of SoM into the gaming industry. SoM is extensively used in a broad range of embedded hardware, such as gaming console hardware, PC gaming hardware, and Virtual Reality (VR) equipment. It offers several benefits such as a low footprint, more design freedom, and low power consumption, further contributing to its rising acceptance in gaming applications. Furthermore, according to the World Economic Forum Report published in 2020, the worldwide gaming market was poised to be worth USD 159 billion and is anticipated to grow over the coming years. It also claims that APAC is the largest revenue market, accounting for 50 % of the global gaming industry value. The proliferation of the gaming sector with high-end visual resolution will fuel the industry growth.

North America system on module market will showcase 10% gains during 2021 to 2027 driven by the increasing demand for smart home connected devices in the region. According to a report issued by the Consumer Technology Association (CTA) in 2021, the smart home products sales in the U.S. are set to reach USD 15 billion, with an increase of 3%over the previous year. These smart home products include PC displays, speakers, and kitchen appliances, among other things, which are integrated with SoM devices. Additionally, the increasing use of IoT technology in North America will foster the market progression.

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Key players operating in the system on module market include Advantech Co., Ltd, Kontron S&T AG, Digi International, Inc., National Instruments Corporation, Congatec AG, Eurotech, Inc., and VIA Technologies, Inc. Companies are constantly focused on new product development in order to acquire a competitive advantage in the market.

Some major findings of the system on module market report include:

  • The growth of AI and IoT technologies is ramping up the adoption of SoM in new application areas such as face recognition, medical surgery, and different smart home applications.
  • The increasing adoption of smart factories around the globe will positively influence the market over the coming years. SoM’s high energy efficiency and compact footprint are speeding up its acceptance in industrial robotics, human-machine interfaces, and other applications.
  • ARM processors provide several advantages, including high performance computation and low power consumption, which have led to its increased use in IoT applications, smart devices, ADAS, and other cloud-based monitoring systems.
  • The market demand is attributed to the growing need for smart traffic management systems in the transportation sector. The rising integration of SoM in vehicle-to-vehicle communication, telematics, and instrument clusters, will spur the industry expansion during the forecast period.
  • The Europe market is predicted to register a significant growth impelled by the rising government initiatives and funding activities to promote digitalization in the medical sector. Moreover, the increasing IT infrastructure and adoption of highly efficient embedded systems and IoT technologies in countries including China, Japan, and South Korea is stimulating the system on module market value in the APAC region.
  • The COVID-19 pandemic has had a significant impact on the automotive sector, leading to the closure of several plants, supply chain problems, and international trade obstacles, restricting the expansion of the market. The government-imposed lockdowns have also resulted in a scarcity of engineers at manufacturing plants, limiting new product development substantially in the industry.

Table of Contents (ToC) of the report:

Chapter 3   System on Module 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

3.5    Technology & innovation landscape

3.6    Regulatory landscape

3.7    Industry impact forces

3.7.1    Growth drivers

3.7.2    Industry pitfalls and challenges

3.8    Growth potential analysis

3.9    Porter’s analysis

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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