System on Module Market to hit US$ 3,682.64 million, Globally, by 2028 at 9.2%CAGR: The Insight Partners

According to the new research report published by The Insight Partners, "System on Module (SoM) Market Forecast to 2028 - Global Analysis - by Component, Hardware Type, Standard, Application, and Geography," the market is expected to grow from US$ 2,174.8 million in 2022 to US$ 3,682.64 million by 2028; it is expected to grow at a CAGR of 9.2% from 2022 to 2028.
The growing use of control systems, robotics, and the Internet of Things (IoT) technologies to maintain processes in industries is one of the prime factors driving the adoption of system on modules. The solutions incorporated with SoM features such as high accuracy, precision, and enhanced manufacturing process performance. The use of an integrated SoM is rising as it helps enhance manufacturing, product assembly, supply chain management, and logistics operations. Manufacturers are increasingly replacing their conventional computing systems with compact and cost-effective solutions enabled by SoMs. Thus, widespread applications of SoMs in industrial automation processes, including process control and discrete manufacturing, are driving the system on module market growth.

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Market Insights - System on Module Market

The flourishing trends of deploying industrial robots in the manufacturing sector are significantly driving the adoption of SoMs in industrial automation. SoMs improve the industrial control processes and operations of factory equipment and industrial robots. South Korea is anticipated to contribute significantly to the Asia Pacific system of module market growth due to highest adoption of robot in industrial sector. Further, the continuous advancements in communication systems and sensors are also accelerating the demand for SoMs to deliver high productivity. Industry 4.0 has bolstered the adoption of service robots as robotics helps achieve high manufacturing productivity. The growing use of embedded systems in robots to reduce their reliance on external computing systems is also bolstering the system on module market growth.

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The global system on module market is segmented into component, hardware type, application, and standard. Based on component, the market is bifurcated into hardware and software. Based on hardware type, the system on module market is segmented into ARM, x86, power, FPGA, GPU, DSP, and others. Based on application, the market is segmented into industrial automation, medical, entertainment, transportation, test & measurement, and others. Based on standard, the system on module market is categorized into Qseven, SMARC, and COMExpress. By geography, the system on module market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Aaeon; Advantech Co. Ltd; Avnet Inc.; Value Technology Inc.; Connect Tech Inc.; Congatec Gmbh; Emac, Inc.; Somlabs; and Microchip Technology, Inc. are among the leading players in the global system on module market. Companies in the market are continuously focusing on new product development to fulfill the demands of end users. Key market players are adopting strategies such as product line and geographic expansions, mergers and acquisitions, and partnerships and collaborations to extend their market reach. In May 2020, Avnet, a globally leading electronic component and service provider, developed its new Avnet XRF16 SoM for the next-generation 5G connectivity. Similarly, in April 2020, iENSO launched the Allwinner system on module for faster integration of image sensors and peripheral technologies.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.