Rise in Adoption of IoT Supplement to Boost System on Chip Market Growth by 8.1%

According to a recent report published by Allied Market Research, titled, System-on-Chip Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global system-on-chip market was valued at $117.2 billion in 2016, and is projected to reach at $205.4 billion by 2023, growing at a CAGR of 8.1% from 2017 to 2023.

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System-on-chip (SoC) applications are majorly adopted in the Asia-Pacific region; thus, this region contributes to maximum revenue in the global market, followed by North America, Europe, and LAMEA.

The global system-on-chip market is driven by the compact nature of SoC, surge in demand for smart and power-efficient electronic devices, and high penetration of IoT. However, high initial cost of design & development and maintenance hamper the market growth.

In 2016, the mixed signal segment dominated the SoC type segment, in terms of revenue. Furthermore, based on application, consumer electronics led the global market, followed by telecommunications in 2016. However, the automotive segment is expected to witness the highest CAGR throughout the forecast period (2017-2023).

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Key Findings of the System-on-Chip Market:

• The mixed signal segment generated the highest revenue in the global system-on-chip market in 2016.

• In 2016, consumer electronics generated the highest revenue among the application segment.

• LAMEA is anticipated to exhibit the highest CAGR during the forecast period.

• In 2016, Asia-Pacific accounted for the highest market share, followed by North America, Europe, and LAMEA.

The key players profiled in the report are Intel Corporation, Samsung Electronics Co. Ltd., Qualcomm Incorporated, Toshiba Corporation, NXP Semiconductors N.V., Broadcom Limited, STMicroelectronics N.V., Apple Inc., MediaTek Inc., and Taiwan Semiconductor Manufacturing Company Limited.

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