System on Chip Market is forecasted to reach USD 335.4 billion by 2032, growing at a 7.9% CAGR from 2023 to 2032
Acumen Research and Consulting recently published report titled “System on Chip Market Forecast, 2023 – 2032”
TOKYO, Oct. 03, 2023 (GLOBE NEWSWIRE) — The Global System on Chip (SoC) Market Size accounted for USD 159.2 Billion in 2022 and is projected to achieve a market size of USD 335.4 Billion by 2032 growing at a CAGR of 7.9% from 2023 to 2032.
The System on Chip Market is a vital segment within the semiconductor industry, focusing on the development, production, and supply of integrated circuits that combine various electronic components and functions onto a single chip. This market is experiencing substantial growth due to the increasing demand for compact and power-efficient devices, advancements in semiconductor manufacturing technology, and the development of innovative and effective integrated solutions. The market’s future looks promising with continuous advancements in semiconductor research and chip development, offering numerous opportunities for growth and innovation. The System on Chip Market is a crucial sector in semiconductor innovation, providing advanced integrated solutions for a myriad of electronic applications, ranging from smartphones to automotive systems.
System on Chip Market Highlights and Key Statistics:
- The Global System on Chip Market is expected to reach USD 335.4 Billion by 2032, reflecting a CAGR of 7.9% from 2023 to 2032.
- In 2022, Asia-Pacific led the market, holding more than 49% of the market share.
- North America will record a CAGR of around 8.2% from 2023 to 2032.
- By type, the digital segment has generated about 60% of the revenue share in 2022.
- By application, the smartphones segment has accounted for more than 28% of the revenue share in 2022.
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System on Chip Market Report Coverage:
|System on Chip Market
|System on Chip Market Size 2022
|USD 159.2 Billion
|System on Chip Market Forecast 2032
|USD 335.4 Billion
|System on Chip Market CAGR During 2023 – 2032
|2023 – 2032
|By Type, By Application, By End Use Industry, And By Geography
|System on Chip Market uRegional Scope
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|Qualcomm Incorporated, MediaTek Inc., Apple Inc., Samsung Electronics Co., Ltd., Intel Corporation, NVIDIA Corporation, Advanced Micro Devices, Inc. (AMD), Broadcom Inc., Texas Instruments Incorporated, STMicroelectronics N.V., NXP Semiconductors N.V., and Renesas Electronics Corporation.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
System on Chip Market Overview and Analysis:
The System on Chip Market is characterized by its focus on developing integrated circuits that can efficiently and safely combine various electronic components and functions. The market is witnessing continuous innovations aimed at enhancing the efficacy, size, power consumption, and performance of electronic devices. However, challenges such as supply chain disruptions, semiconductor shortages, high development and manufacturing costs, and intellectual property and licensing challenges can pose constraints to market growth.
Latest System on Chip Market Trends and Innovations:
- Development of advanced manufacturing processes, such as 7nm and 5nm nodes.
- Integration of multiple functions onto a single chip improving efficiency and performance of electronic devices.
- Expanding applications in healthcare, wearables, Edge AI, robotics, automotive safety, and connectivity features.
- Advances in semiconductor research for System on Chip production.
Major Growth Drivers of the System on Chip Market:
The demand for compact and power-efficient devices is increasing due to the growing popularity of smartphones, tablets, and other portable devices. The growth of the IoT market is also driving demand for semiconductors, as these devices are used to connect and control a wide range of devices and appliances. Advancements in semiconductor manufacturing technology are making it possible to produce smaller, more powerful chips, which is further driving demand. Rising demand for high-performance mobile devices, such as gaming phones and augmented reality headsets, is also contributing to the growth of the semiconductor market. Finally, the expansion of 5G networks and connectivity is creating new opportunities for semiconductor companies, as 5G networks require more powerful chips to support the high-speed data rates.
Key Challenges Facing the System on Chip Market:
- Supply chain disruptions and semiconductor shortages have made it difficult for companies to get the parts they need to manufacture their products. This has led to delays and shortages of products, and has also increased costs.
- High development and manufacturing costs are another challenge facing the semiconductor industry. The cost of developing new chips is constantly increasing, and the manufacturing process is also very expensive. This has made it difficult for small companies to compete in the market.
- Intellectual property and licensing challenges can also be a major obstacle for companies in the semiconductor industry. Companies need to make sure that they have the necessary patents and licenses to manufacture and sell their products. If they do not, they could be sued by other companies.
- Increasing competition from China, demand for more energy-efficient chips and growing popularity of artificial intelligence and machine learning are also some challenges.
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System on Chip Market Segmentation Insights:
Based on the Type:
- Mixed Signal
Based on the Application:
- Networking Devices
- Digital Cameras
- Game Consoles
Based on the End Use Industry:
- IT and Telecommunication
- Aerospace and Defense
- Consumer Electronics
Regional Overview of the System on Chip Market:
Asia-Pacific’s dominance in the System on Chip Market can be attributed to the presence of some of the world’s largest and most influential semiconductor manufacturing companies, such as TSMC, Samsung, and SMIC, and being a major hub for consumer electronics manufacturing. North America and Europe are also significant markets due to high technological advancements and the adoption of advanced integrated solutions.
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List of Key Players in the System on Chip Market:
Qualcomm Incorporated, MediaTek Inc., Apple Inc., Samsung Electronics Co., Ltd., Intel Corporation, NVIDIA Corporation, Advanced Micro Devices, Inc. (AMD), Broadcom Inc., Texas Instruments Incorporated, STMicroelectronics N.V., NXP Semiconductors N.V., and Renesas Electronics Corporation.
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