The system on Module Market is expected to reach USD 5,103.8 Million, with a CAGR of 8.3% during the forecast period, 2022-2030.
The market is witnessing an increase in the demand for modules of various sizes used in various applications across the globe. The increasing number of smartphones and tablets has led to an increase in the demand for module manufacturing companies across the globe. The increasing demand for modules along with other factors such as rise in infrastructure activities and construction activities have led to popularity of modular buildings across the globe.
North America Emerged to Be the Fastest-Growing System on Module Market during the Review Period
The increasing uptake of wearable healthcare devices across developed economies is fueling the market. In addition, the rising penetration of IoT technology in North America will further accelerate market growth. According to the GSM Association, North America accounted for 2.8 billion IoT connections in 2019, which is projected to surpass the 5.4 billion mark by 2025. Surging IoT-based devices in the region will further amplify the adoption of the System on Modules Market. GSM Association is an industry organization that represents the interests of mobile network operators worldwide.
Europe emerged as the second biggest market majorly due to the UK is having the biggest medical facility in the world, and the system on module is having huge applications in the medical industry. The adoption of AI technology in smart medical devices will further fuel market growth. AI-based therapeutic and diagnostic devices help in remote patient monitoring and real-time diagnosis applications. Germany’s growth is attributed to proactive investments by Germany-based systems on module manufacturers, such as Phytec, emtrion GmbH, NXP Semiconductors, and Kontron, for the development of technically advanced products.
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The flourishing IT & services infrastructure in countries, including China and India, is supporting the adoption of highly efficient embedded computing solutions and IoT technologies, which provides an impetus for industry growth. The countries covered in this region are Japan, China, India, South Korea, and the Rest of Asia-Pacific.
The scope of the Rest of the World includes the Middle East & Africa and South & Central America. South & Central America is dominating region with a growth rate of 8.0 CAGR over the forecast period.
System on Module Market Key Players
Some of the prominent players operating in the global System on Module market include-
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System on Module Market Covid Impact Analysis
COVID-19 has impacted various industries worldwide, resulting in travel bans, a worldwide lockdown, and a slowdown in the supply chain of various businesses. The semiconductor industry has also been deeply affected by the ongoing unprecedented event and witnessed a sharp decline in revenues due to the uncertain positioning of digital devices. Despite the growing uncertainties, semiconductors manufacturers, especially chipmakers, try to continue their operations and work on their long-term strategies. Many semiconductor manufacturers are also collaborating with their partners and specific markets with consistent business stability. For instance, while focusing on the health and safety of their employees, semiconductor manufacturers are making constant efforts for research, designs, and manufacturing processes. The urgency for continuing operations has occurred within the semiconductor industry for their end users, including medical and healthcare technologies, such as artificial intelligence, Industry 4.0, and 5G, that are working to combat the pandemic.
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System on Module Market Segmentation
The global System on Module Market market has been segmented on the basis of type, standard, application, and region.
The global System on Module Market market, based on type, has been segmented into Arm Architecture, X86 Architecture, and Power Architecture. Arm Architecture accounted for the largest market share in 2021 and is expected to register a CAGR of 8.8% during the forecast period.
The global System on Module Market market, based on standards, has been segmented into COM Express, SMARC, QSeven, ETX/XTX, Com-Hpc, and Others.
The global System on Module Market market, based on application, has been segmented into Industrial Automation, Medical, Entertainment, Transportation, Test and Measurement, and Others.
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