According to a recent report published by Report Ocean, titled, “Computer on Module Market By Processor, Form Factor, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027”, the global computer on module market was valued at $1,117.6 million in 2019, and is projected to reach $1,567.0 million by 2027, registering a CAGR of 5.2% from 2020 to 2027.
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The computer on module market trends are expected to register substantial growth in the future, owing to increase in demand for industrial automation and demand from the aerospace & defense industry. Computer on module is used in all areas of human life. They are integrated into most devices, owing to their compact size and high productivity. It is majorly used across applications such as kiosk counters, military rugged devices, medical equipment, and industrial automation.
The X86 processor segment was the largest revenue contributor in 2019, and is expected to grow at a CAGR of 4.7% from 2020 to 2027. This is attributed to the fact that X86 is better in performance and has been in demand over the past few years. ARM processors are estimated to grow at the highest CAGR of 5.1%, owing to low power consumption in application devices.
The Com Express type of form factor held largest market share in 2019, and is expected to dominate the market in 2027. Industrial automation was the highest contributor to revenue in 2019, owing to adoption of computer on modules in various applications such as industrial robots, machine & process controlling, and humanoid robots.
By region, the computer on module industry has been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that Asia-Pacific contributed maximum revenue in 2019. The market in Asia-Pacific is expected to grow at a faster rate compared to other regions. Factors, such as increase in adoption of industrial automation and rise in demand for consumer applications are estimated to contribute toward the market growth in Asia-Pacific.
COVID-19 Impact Analysis
The COVID-19 pandemic has severely impacted the global market as production facilities have stalled, which significantly hampers demand in industries. In addition, operations of production and manufacturing industries have been heavily impacted by the COVID-19 outbreak, which leads to the slowdown of the global computer on module market growth in 2020.
Key Findings of the Study