LONDON--(BUSINESS WIRE)--The global system-on-chip market size is poised to grow by USD 5.72 billion during 2020-2024, progressing at a CAGR of over 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The SOC market is driven by the growing adoption of SoCs in robotics. Automotive, healthcare, and electronics industries are the major employers of robotics. SoCs are integrated into robots as they include embedded software and hardware, which can help to reduce the time to market and the total cost of ownership. SoCs provide network interfaces, operating system drivers, and machine learning frameworks, which are essential for robots. As SoCs are highly suitable to be integrated into robotics, the growing demand for robotics across numerous applications will fuel the growth of the SoCs market during the forecast period.
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- The major system-on-chip market growth came from the consumer electronics market in 2019 and is expected to witness the fastest growth during the next five years. This is primarily because of the increase in the requirements for compact and scalable ICs to manufacture compact consumer electronic
- APAC was the largest SoC market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the high concentration of consumer electronics, automobiles, telecommunication equipment, and enterprise networking equipment OEMs.
- The global system-on-chip market is fragmented. Apple Inc., Huawei Investment & Holding Co. Ltd., Infineon Technologies AG, MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., Samsung Electronics Co. Ltd., and Texas Instruments Inc. are some of the major market participants. To help clients improve their market position, this system-on-chip market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the system-on-chip market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/system-on-chip-market-industry-analysis
Increase in 5G investments will be a Key Market Trend
5G, the next generation of communication technology, is gaining immense popularity across the world. There have been numerous investments in 5G globally in recent times, which is creating high demand for 5G network infrastructure. This is accelerating the development of electronic components and modules including 5G mmWave antenna modules, 5G base stations, and several 5G RF products. To capitalize on the growing investments in 5G, SoC vendors are introducing products that support 5G to enter a wide range of application segments. Thus, an increase in the investments in 5G will propel the adoption of SoCs during the forecast period.
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System-on-Chip Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist system-on-chip market growth during the next five years
- Estimation of the system-on-chip market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the system-on-chip market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of system-on-chip market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Consumer electronics – Market size and forecast 2019-2024
- IT and telecommunication – Market size and forecast 2019-2024
- Automotive – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Apple Inc.
- Huawei Investment & Holding Co. Ltd.
- Infineon Technologies AG
- MediaTek Inc.
- Microchip Technology Inc.
- NVIDIA Corp.
- NXP Semiconductors NV
- Qualcomm Inc.
- Samsung Electronics Co. Ltd.
- Texas Instruments Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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