The System On Module Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s System On Module Global Market Report 2024, The system on module market size has grown strongly in recent years. It will grow from $2.22 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to adoption of advanced sensor technologies, development of modular and flexible testing solutions, emphasis on real-time testing and simulation, cloud-based testing solutions, focus on data analytics and predictive maintenance.
The system on module market size is expected to see strong growth in the next few years. It will grow to $3.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to 5G integration and connectivity, rise of edge computing, increased demand for AI and machine learning integration, expansion of IoT (internet of things) ecosystem, growing focus on cybersecurity in embedded systems. Major trends in the forecast period include customization and configurability, integration of AI accelerators, focus on power efficiency, shift towards RISC-V architecture, and enhanced security features.
The increase in deployment of industrial robots is expected to propel the system on module market. Industrial robots are mechanical machines designed and programmed to carry out industrial tasks. These industrial robots include embedded systems that are assembled using the systems on module assemblies. For instance, according to the International Federation of Robotics (IFR), 3 million industrial robots were operating worldwide in 2021. Global robot installations grew 13% to 4.35K units, compared to 38.4K units in 2020. The robot installations are anticipated to rise at a steady rate of 6% from 2021 to 2024. As a result, the increasing deployment of industrial robots is driving the system on module market.
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The system on module market covered in this report is segmented –
1) By Type: ARM Architecture, x86 Architecture, Power Architecture, Other Types
2) By Component: Hardware, Software
3) By Standard: COM Express, SMARC (Smart Mobile Architecture), Qseven, ETX (Embedded Technology Extended), Other Standards
4) By Application: Industrial Automation, Medical, Entertainment, Transportation, Test And measurement, Communication, Other Applications
Major companies operating in the system on module market are focused on partnerships to increase their profitability in the market. Partnerships in the context of System on Module (SoM) refer to collaborative agreements and relationships between different entities in the technology ecosystem. For instance, in March 2023, Toradex, a Switzerland-based embedded computing products provider collaborated with Texas Instruments Inc., a US-based semiconductor manufacturing company to launch Verdin AM62. Verdin AM62, powered by the TI Sitara AM62x processor, features four robust 64-bit Armv8 Cortex-A53 cores for industrial automation. Its pin-compatible design enhances scalability, and integrated OTA updates, device monitoring, and remote access with Torizon cater to diverse applications. With HW-accelerated graphics and multiple display interfaces, it excels in Graphical Human Machine Interfaces (HMI). The Easy Installer ensures easy OS installation with one click, while collaborative efforts with partners enhance the overall customer experience.
The system on module market report table of contents includes:
1. Executive Summary
2. System On Module Market Characteristics
3. System On Module Market Trends And Strategies
4. System On Module Market – Macro Economic Scenario
5. Global System On Module Market Size and Growth
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26. South America System On Module Market
27. Brazil System On Module Market
28. Middle East System On Module Market
29. Africa System On Module Market
30. System On Module Market Competitive Landscape And Company Profiles
Top Major Players:
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