System on-a-Chip (SoC) Market Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Posted March 30, 2021 by shrushtig

The system on a chip (SoC) is an integrated circuit (IC), which includes various electronic parts such as central processing unit (CPU), input and output ports (I/O Ports), internal memory, analog input, output blocks, and others.
Apart from its small size, system on a chip (SoC) provides various benefits such as it consumes less power, has better performance, requires less space, and it is more reliable than multi-chip systems. On the basis of type, the global system on a chip (SoC) is divided into digital SoC, analog SoC, and mixed signal SoC. 
Furthermore, there are various factors such as increasing use of IoT devices, increasing adoption of smartphones, and others that are expected to drive the global system on chip (SoC) market over the forecast period.
The global system on a chip (SoC) market was valued at US$ 124.6 Bn in 2018 and is expected to exhibit a CAGR of 7.8% during the forecast period (2019-2027).
Market Dynamics- Drivers
Growing demand of system on a chip (SoC) for smart phones is expected to drive growth of the global system on a chip (SoC) market during the forecast period     
Every smartphone device requires a system on a chip for its operations. The global smartphone market is growing at an exponential rate, owing to availability of high-end smartphones technologies at a low-cost. For instance, according to Coherent Market Insights analysis, in September 2019, Xiaomi Inc. launched Mi 9 Pro for US$ 500. This phone has the same system on a chip (SoC), (Snapdragon 855+), earlier this chip was available in high prices segment phones such as Samsung Galaxy Z Flip (~US$ 1,380) or Samsung Galaxy S10+ Plus (~US$ 999.99). This change of focus of the company’s strategies from high-end segment to mid-range smartphones is driving demand for smartphones, as more people can afford these smartphones.
Furthermore, increasing disposable income of people and rising dependency of consumers on smartphones are driving demand for smartphones. For instance, according to data published on website by Organization for Economic Co-operation and Development, the U.S. has registered 2.3% growth in year 2017-2018. Thus, availability of mid-range smartphones combined with increasing disposable income of people are expected to drive the global system on a chip (SoC) market over the forecast period.
Among regions, North America region held a dominant position in the low smoke halogen-free cable market in 2019, accounting for 37.5% share in terms of value, followed by Asia Pacific, Europe, Latin America, and MEA respectively

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Market Restraints
High research and development cost of system on a chip is expected to restrain growth of the global system on a chip (SoC) market over the forecast period.
In recent years technology is continuously evolving, several industries are adopting automation and digitization. These changes in technology and automation may bring opportunities to the key players to enter into new market but with high initial research and development costs on system on a chips (SoC). Due to increasing customization of SoC for various products, companies need to focus on various R&D projects at the same time. This will increase companies' project costs and increases the probability of product failure. These factors are expected to hamper the market growth over the forecast period.
Market Opportunities
Growing demand for artificial intelligence chip technology is expected to create lucrative growth opportunities for market players in the global system on a chip (SoC) market.
The edge AI chips are significantly used in consumer devices such as high-end smartphones, smart speakers, tablets, wearable, and others. These are also used in multiple enterprise markets such as robotic devices, cameras, internet of things (IoT) devices, and others. Both these markets are important, however edge AI chips market for the consumer devices is much larger than the enterprise market, but it is expected to grow at a slow rate. The increasing demand for the AI edge chip market for consumer devices and enterprise devices are expected to offer lucrative growth opportunities for key players over the forecast period.
Competitive Section
Key companies operating in the global system on a chip (SoC) market include Apple Inc., Huawei Technologies Co. Ltd., MediaTek Inc., Qualcomm Technologies Inc., Samsung Electronics CO. LTD., Intel Corporation, STMicroelectronics N.V., Toshiba Corporation, NXP Semiconductors N.V., and Broadcom Inc. among others. These key market players are focusing on collaborations to launch new products to meet the increasing needs and requirements of consumers.
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Categories Biotech , Computers , Engineering
Tags system onachip soc market outlook , system onachip soc market share , system onachip soc market size
Last Updated March 30, 2021