Global System-On-Chip (SoC) Market to Reach US$ 326.1 Billion by 2032, Impelled by Increasing Demand for Power-efficient Electronic Devices

According to the latest report by IMARC Group, titled "System-on-Chip (SoC) Market Report by Type (Digital, Analog, Mixed Signal), Application (Smartphones, Networking Devices, PC/Laptops, Game Consoles, Digital Cameras, and Others), End Use Industry (Automotive, Aerospace and Defense, IT and Telecommunication, Consumer Electronics, Industrial, Healthcare, and Others), and Region 2024-2032," the global system-on-chip (SoC) market reached a value of US$ 176.7 Billion in 2023. A system-on-chip (SoC) is a circuit with all the electronic circuits and parts for a given system, such as a wearable computer or smartphone, on a single integrated circuit (IC). This technology is used in small, increasingly complex consumer electronic devices. SoC integrates most components of a computer or other electronic system, including a central processing unit (CPU), on-chip input/output devices, memory interfaces, input/output interfaces, and secondary storage interfaces, often alongside radio modems and graphics processing unit (GPU), on a single substrate or microchip. SoC is similar to the computer's central processing unit (CPU). However, it is compact and occupies lesser space when compared with the CPU.

Global System-On-Chip Market Trends:

The global market is majorly driven by the increasing demand for smart and power-efficient electronic devices. In line with this, the rising integration of the internet of things (IoT) with SoC creates a positive outlook for the market. Furthermore, the growing requirement for compact and scalable ICs in the electronic industry is significantly contributing to the market. Apart from this, emerging technology trends, such as the miniaturization of devices, smart wearable devices, portable medical devices, autonomous vehicles, IoT ecosystems, and digitization, are offering numerous opportunities for key market players. Moreover, the escalating demand for faster data communication, along with powerful artificial intelligence (AI) capabilities, a network of hyper-scale data centers, telecom server farms, and upcoming 5G communication towers, are catalyzing the market growth. Besides, the introduction of novel technologies and rapid innovations in automation, precision, and electronics industry verticals are propelling the demand for system-on-chip products. Additionally, the leading players are conducting extensive research and development activities, which is expected to provide a boost to the market. Other factors, including the increasing demand for ADAS-based SoC, rapid technological advancements, and heavy investments in advanced workstations, are expected to drive the market in the coming years. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 326.1 Billion by 2032, exhibiting a CAGR of 6.84% during 2024-2032.

Market Summary:

• On the basis of the type, the market has been segmented into digital, analog, and mixed signal.
• Based on the application, the market has been categorized into smartphones, networking devices, PC/Laptops, game consoles, digital cameras, and others.
• Based on the end-use industry, the market has been classified into automotive, aerospace and defense, IT and telecommunication, consumer electronics, industrial, healthcare, and others.
• On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
• The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Advanced Micro Devices Inc., Broadcom Inc., Huawei Technologies Co. Ltd., Infineon Technologies AG, Intel Corporation, MediaTek Inc., Microchip Technology Inc, Nvidia Corporation, onsemi, Qualcomm Incorporated, Renesas Electronics Corporation, STMicroelectronics N.V., Taiwan Semiconductor Manufacturing Company Limited and Texas Instruments Incorporated.
   

Report Coverage:

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