According to a new market report pertaining to the system-on-chip market, published by Transparency Market Research, the global system-on-chip market is expected to reach US$ 206.79 Bn by 2026, expanding at a CAGR of 11.0% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region rising at a CAGR of 12.6% during the forecast period from 2018 to 2026. Smartphones application of system-on-chip is anticipated to significantly drive the global system-on-chip market across the globe.
Increasing adoption of smartphones and PC/laptops due to the requirement of faster speed and all on a single chip, is witnessing noteworthy growth around the globe. The global system-on-chip market is showing significant growth due to its rising adoption in the consumer electronics and telecommunication industry. The rising demand and adoption of advance technologies to obtain faster response and lower power consumption in compact devices are estimated to contribute to the growth of the system-on-chip market in the coming years.
Key players in the market are continuously enhancing their research and development expertise to design advanced system-on-chip required in various applications such as smartphones, PC/laptops, networking devices, game consoles, digital cameras, and others. Also its usage in end use industries such as consumer electronics, telecommunication, healthcare, automotive, aerospace and defense, industrial and others, have influenced the growth of the system-on-chip market.
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The global system-on-chip market is broadly segmented by type, application, and end-use industry. According to the research study, mixed type of signal segment held the maximum market share and is anticipated to show a CAGR of above 12.1% through 2026. In terms of revenue, mixed type of signal’s contribution is primarily due to its extensive usage in various smart devices and the segment is anticipated to remain dominant over the forecast period. Digital type of signals segment is expected to expand at a CAGR of about 10.9%, followed by analog signals. Others that includes radio frequency and near field communication is expected to expand at a lower rate compared to other segments over the forecast period.
As per TMR analysis, application of system-on-chip’s in smartphones is anticipated to grab maximum market share in 2018 and a similar trend is expected to be seen over the forecast period. Commercial usage of system-on-chips in consumer electronics, telecommunication, and healthcare, is forecasted to see dominant growth over other segments such as aerospace & defense, automotive, industrial and others for system-on-chips in the global market. The consumer electronics industry showed significant market share in 2017 due to the increasing application in end use industries, and a similar trend is anticipated to be seen over the forecast period. Usage of system-on-chips in medical devices is anticipated to witness highest CAGR growth in the healthcare industry. Other industries such as aerospace and defense, automotive, and pharmaceuticals and others are expected to show decent growth over the forecast period.
