Global System on Module Market Research Report—Forecast till 2026
Global System on Module Market is anticipated to surpass USD 3,774.9 Million by 2026 with a CAGR of 7.97% during the forecast period, 2020–2026. There are lots of hurdles in finding new ways to design products that would improve agility, integration, and performance. These complications can be avoided with the help of the system on the module (SoM). It integrates the processor, memory, power supply, debugging, and connectivity on a single platform to make the device work.
The global system on the module market is expected to witness healthy market growth owing to the significant market value of USD 2,390.4 Million in 2019. The global market growth is attributed to the rising applications of SoM in an eBook readers, deep learning, wearable, automation, test and measurement, industrial human-machine interface (HMI), drone, medical imaging, and industrial control. Additionally, the increasing demand for systems on modules can be driven by the rising demand for portable and wireless devices. However, system complexities in X86 processors have may hinder the market growth.
The Global System on Module market has been divided based on Type and application. By type, the market has been classified into X86 Architecture, ARM Architecture, and Power Architecture. The X86 architecture is expected to lead the market owing to its lesser complexity compared to x86 processors, accelerating the adoption of ARM-based processors in various boards and modules.
Based on application, the global market has been segmented into Industrial Automation, Medical, Entertainment, Transportation, Test & Measurement, Others.
The region-specific analysis of the Global System on Module Market has been classified into North America, Europe, Asia-Pacific, the rest of the world. Asia-Pacific held the largest market share of 33.3% in 2019. The region is anticipated to exhibit a substantial CAGR during the review period.
North America accounted for the second-largest market owing to the rising uptake of wearable healthcare devices across developed countries in the region. Moreover, the growing penetration of IoT technology in North America is fuelling the market growth during the review period. As per the GSM Association analysis, North America accounted for 2.8 billion IoT connections in 2019, which is expected to reach the 5.4 billion mark by 2025.
The prominent Players of the global System on Module Market include AAEON Technology, Ltd (Taiwan), Connect Tech, Inc. (Canada), Congatec AG (Germany), EMAC, Inc. (US), Eurotech, Inc. (US), Kontron S&T AG (Germany), Inc. (Taiwan), Advantech Co., Ltd (Taiwan), Avnet, Inc. (US), Avalue Technology (Taiwan), Axiomtek Co., Microchip Technology, Inc. (US), National Instruments Corporation (US), Phytic (Germany), SECO S.p.A (Italy), TechNexion Ltd (Taiwan), Toradex (Switzerland), and VIA Technologies, Inc. (Taiwan) among others.
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