Market Synopsis
The System-On-Chip Market 2020 is all set to jump from
the valuation of USD 131.83 billion it reached in 2017 to touch USD 207.21
billion by 2023, affirms Market Research Future (MRFR). MRFR anticipates that
the global market can procure a CAGR of 8.3% from 2018 to 2023 (review period).
We will provide COVID-19 impact analysis with the report, offering detailed
market developments following the coronavirus disease outbreak.
Top Market Competitors
The top market competitors covered in the study are Taiwan
Semiconductor Manufacturing Company Limited, NXP Semiconductors N.V., Apple
Inc, Broadcom Limited, MediaTek Inc, STMicroelectronics N.V., Qualcomm Incorporated,
Samsung Electronics Ltd, Toshiba Corporation, Intel Corporation, and more.
Some other leading contenders in the market are Microchip
Technology Inc, ON Semiconductor, Infineon Technologies, Maxim Integrated
Products Inc, Texas Instruments, to name a few.
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Main Drivers and Key Challenges
With the world taking shelter inside their homes since the
COVID-19 outbreak and the consequent lockdown, the semiconductor industry,
especially the system on chip/SOC market has had to deal with fluctuating
demand and supply ratio. SARS-CoV-2 has led to a dramatic drop in the sales of
system on chips, given the rising need for essential items following the
pandemic. On the bright side, with the novel coronavirus compelling people to
remain and work from home, it is believed that the system on chip demand can
increase in the following months. Advanced technologies such as AI, IoT, rising
need for better internet connectivity, and surging use of affordable smart
wireless sensors can also help the SOC market generate massive revenues in the
near future.
The escalating demand for compact, power-efficient and smart
electronic device coupled with the promising growth of IoT based technologies
has benefitted the SoC Market to a large extent. The increasing need for
scalable and compact ICs in the worldwide electronic industry can give rise to
lucrative opportunities in the global market over the next couple of years. The
market growth can also be bolstered by the accelerated application scope in
diverse industries such as consumer electronics like smartphones, laptops and
tablets.
Furthermore, the SoC
Market Size can garner widespread impetus backed by the growing
innovations in the manufacturing processes and the soaring demand for lower
priced silicon chips. The emergence of cost effective silicon chips has emerged
as a huge opportunity for the renowned industry players, who are actively
pursuing growth strategies such as product development and new launches in order
to elevate their market position.
For instance, in July 2020, Apple Silicon signed TSMC for
developing high power Silicon system on chips for future Macs, since silicon is
an extremely pure, cheap and easy to use semiconductor. TSMC has long been a prominent
supplier of ARM chips for Apple and has successfully developed SoCs for their
iPads as well as iPhones previously.
Market Segmentation
Type and application are the main segments based on which
which the system-on-chip (soc) market has been studied in the report.
The key types covered in the market study are digital signal,
mixed signal and analog signal.
The primary application areas highlighted in the report
include healthcare, consumer electronics, automotive, telecommunication, and
more.
Regional Insight
The geographical distribution of the system-on-chip market
comprises Europe, Asia Pacific/APAC, North America, and the rest of the
world/RoW.
The world leader is expected to be APAC, as the SoC market in
the region is expanding significantly on account of the high demand for top
quality consumer electronics across India, China, Taiwan, Japan and South
Korea. The favorable internet ecosystem in the region has also benefitted the
market to a large degree, but with the COVID-19 outbreak, online businesses
have gained even higher impetus. This has resulted in a highly lucrative market
for SOC in the region.
North America can be a strong market for system-on-chip as the
region observes high adoption rate of IoT-based technologies that are combined
with electronic appliances. In addition, the growth in in trends like
CYOD/choose your own device, WFH/work from home and BYOD/bring your own device
has induced substantial growth in the SOC market.
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