Albany, NY -- (SBWIRE) -- 04/08/2021 -- System-On-Chip: Snapshot
System-on-chip is an important part of consumer electronics industry. It serves a dynamic range of applications in multiple end-use industries around the globe. The system-on-chip market is witnessing significant technological advancements across the industry and has witnessed significant growth during the last two decades due to the growing consumer electronics industry. The system-on-chip market is expected to grow significantly with focus on augmenting the rapidly growing applications ranging from smartphones to networking devices. The market for system-on-chip is forecast to quickly grow to US$ 206.79 Bn by 2026 at a CAGR of 11.0% during the forecast period.
The system-on-chip market has seen significant growth due to rising applications across end-use industries, with smartphones application holding the largest market share. Industries such as consumer electronics, telecommunication, and healthcare have been leading verticals in adopting system-on-chip technology so as to enhance the performance of smart devices, networking devices, and biomedical devices.
Want to know the obstructions to your company's growth in future? Request a brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5189
Within application devices, smartphones and PC/laptops have been in the forefront, with networking devices and gaming consoles gaining momentum of late. A close study of recent product launches and developments of key industry participants active in the system-on-chip market reveals that industries such as consumer electronics, telecommunication, and healthcare would continue to dominate the market throughout the forecast period. Applications such as gaming consoles and digital cameras are expected to witness demand for the adoption of system-on-chip during the coming years, helping the system-on-chip market to take significant strides toward growth in the second half of the forecast period.
Factors such as rise in demand from smart devices, lowered cost per function of ICs, and the increasing demand for multicore technologies is seen as crucial aspects influencing the market growth trends. The system-on-chip market however faces challenges such as overlapping functionalities and the technological advancement in the form of new embedded software that has negatively affected further large scale proliferation of technology. The existing technology integration and overlapping functionality challenges give way to possible opportunities, such as improvement in the cycle time of the overall system and the 3D integration of system-on-chip. Any further development and exploration of the system-on-chip structure is expected to open new sets of unexplored opportunities, thereby supporting the growth of the system-on-chip market during the forecast period.
Attracted by this fast expanding market and underlying latent demand, many players are driven to invest in the market for system-on-chip products and services. These factors have led companies to strengthen their foothold in the system-on-chip market. For instance, in September 2017, Apple Inc. deigned a new system-on-chip for the latest iPhone 8 named as A11 Bionic. A11 Bionic is a powerful and smart chip designed for a smartphone. A11 has a hexa core CPU that uses heterogeneous multiprocessing. New entrants may find it challenging to establish themselves in the market without a unique value proposition due to competition from established players such as Samsung Electronics Co. Ltd., Intel Corporation, Toshiba Corporation, Taiwan Semiconductor Manufacturing Co. Ltd. and others, which already have strong network and technology expertise in the market.
Some of the prominent players identified in the system-on-chip market and profiled in the study include - Apple Inc., Broadcom Limited, Infineon Technologies, Intel Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., STMicroelectronics N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Toshiba Corporation, MediaTek Inc., Maxim Integrated Products, Inc., Microchip Technology Inc., Texas Instruments, and ON Semiconductor.
Looking for exclusive market insights from business experts? Request a Custom Report
Escalating Demand for Consumer Electronics to Attract Considerable Growth Opportunities for the System-On-Chip Market
The system-on-chip market expects to gain exponential growth across the assessment period of 2018-2026 owing to the rise in the utilization of smart devices among a considerable chunk of the global populace. Technological advancements are playing a massive role in the development of good quality system-on-chips. The rising adoption of technologies like the Internet-of-Things (IoT) will further propel the growth of the system-on-chip market.
A system-on-chip (SoC) is an integrated circuit that performs the function of integrating an entire computer or electronic system. Precisely, it is a whole system on a single chip. The rising utilization of system-on-chips in the consumer electronics industry will bring immense growth opportunities through the assessment period.
The escalating rise in the utilization of gaming consoles, computers, smartphones, and other smart devices is serving as a significant growth generator. The thriving consumer electronics industry is the key to the growth of the system-on-chip market.
The increasing penetration of system-on-chips in the healthcare and telecommunication industry will lay a strong foundation of growth during the forecast period. Novel product launches by the players will boost the growth of the system-on-chip market. Research and development activities are also playing an important role in terms of increasing the growth rate. These activities help in discovering new insights and also enable the players to upgrade their products. All these aspects add extra stars of growth.
The novel coronavirus pandemic has attracted great loss across diverse businesses and sectors around the world. The system-on-chip market is no stranger to this loss. The shutting down of manufacturing facilities and production units has invited considerable growth opportunities. Furthermore, the demand for consumer electronics dropped considerably during the strict lockdown period due to the restrictions.
Nevertheless, the easing of restrictions led to a boost in the sales of consumer electronics, eventually leading to the growth-revival of the system-on-chip market.
Read Our Trending Press Release Below: https://www.prnewswire.com/news-releases/manufacturing-industries-pin-hopes-on-demand-planning-solutions-market-to-boost-performance-of-supply-chains-market-to-cross-mark-of-us-14-5-bn-by-2030-end-tmr-301185652.html