The system-on-chip (SoC) market is projected to witness strong growth, expanding at a CAGR of 9.2% during the forecast period from 2018 to 2026. The growth is mainly assisted by the increasing penetration of electronic devices across the globe. A system-on-chip (SoC) is an integrated circuit that contains all of the components required for an electronic system to function properly. In system-on-a-chip technology, all the components are mounted on the same chip and are connected internally, which reduces the overall size of the system. Thus, it comprises everything that is present in the computer’s motherboard but consumes less space and power and provides better operational performance.
Growing demand for energy-efficient systems coupled with the increasing shift towards device miniaturization is facilitating the growth of the system-on-chip (SoC) technology that has become an alternative for larger processing units. In a world that is data-driven and with semiconductors becoming more internet-driven, data storage SoCs are anticipated to witness massive growth over the forecast period. With the growing trend of producing all-in-one electronic products, manufacturers, particularly those in the consumer electronics industry, are reaping cost savings by utilizing the system-on-a-chip technology. Furthermore, an increase in the number of smart electronic devices coincides with the demand for system-on-chip since these circuits form the primary components of smart electronic devices.
High demand for scalable and compact I.C.s in the electronic industry for applications that are loaded with I.C.s is another factor driving the growth of the system-on-chip market. The scalable and compact I.C.s provide low power consumption, reduced cost, ease of replacement, and high reliability, which play a vital role in the electronics industry. Based on application, the consumer electronics segment is projected to witness the highest growth during the forecast period. The anticipated growth will be largely on account of the growing penetration of smart consumer electronic devices worldwide. Additionally, the proliferation of the Internet of Things (IoT)-based devices, including smartwatches, fitness bands, smart thermostats, etc., has widened the scope of system-on-a-chip technology in consumer electronics. The ongoing advancements in the design of smaller-sized SoCs are anticipated to offer twofold the computing speed as compared to their predecessors. This is expected to create lucrative opportunities for the growth of the system-on-chip market during the forecast period.
The global system-on-chip (SoC) market is classified as follows:
- Consumer Electronics
- North America
- rest of North America
- Rest of Europe
- Rest of Asia Pacific
Rest of the World
- Middle East and Africa
- Latin America
Key players identified in the global system-on-chip market include but are not limited to:
Apple Inc., Broadcom Inc., Huawei Technologies Co., Ltd., Infineon Technologies AG, Intel Corporation, MediaTek Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., Spreadtrum Communications, Inc., STMicroelectronics N.V., Taiwan Semiconductor Manufacturing Company Limited, and Toshiba Corporation, among others.