System on Module (SoM) Market Worth US$ 3,682.64 Million, Globally, by 2028 at 9.2% CAGR - Exclusive Report by The Insight Partners

According to our latest market study on "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.

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Competitive Landscape: System on Module (SoM) Market: Aaeon; Advantech Co. Ltd; Avnet Inc.; Value Technology Inc.; Connect Tech Inc.; Congatec Gmbh; Emac, Inc.; Somlabs; and Microchip Technology, Inc.

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.

The system on module is an embedded technology that incorporates all the computing components in a single hardware module. The hardware module is integrated with software to make the system ready to use. The SoMs allow customers to use advanced technologies such as system on chip (SOC) and flash memory drives.

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The growing applications of SoM solutions to improve the performance, reliability, and scalability of computer systems increased their popularity among end-user industries. SoMs provide a cost-effective solution that optimizes operational costs in commercial and other applications. The development of off-shelve computers on the module and application-specific carrier boards would further fuel the market growth. Advancements in digital technology and industrial automation have significantly increased the demand for SoM solutions.

The COVID-19 pandemic has adversely affected the system on module market with supply chain disruptions and production delays. Lockdowns imposed by several governments, restrictions levied on international trade barriers, and a temporary shutdown of manufacturing plants in the automotive & consumer electronic sectors are hindering the market growth. Uncertainty in the stock market and lowered business confidence have led to panic among customers.

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.

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