System-On-Chip Market Size to grow by USD 5.7 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on System-On-Chip Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The semiconductor market encompasses semiconductor manufacturers, including memory, logic, analog, and micro component producers, optoelectronics and sensors fabricators, and discrete semiconductor suppliers. According to Technavio, the global semiconductor market size is determined by the revenue generated from the sale of semiconductor Integrated Circuits (ICs) to Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs). This market comprises both fab and fabless companies, as well as Integrated Device Manufacturers (IDMs). Factors driving growth in the global semiconductor market include substantial investments in constructing new fabrication plants (fabs) and expanding existing facilities. - The System-On-Chip Market is experiencing significant growth, fueled by the Growing adoption of SoCs in robotics. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing adoption of SoCs in robotics
  • Growing investment in smart cities
  • Dependency of SoC vendors on IP core providers
  • Design complexity of SoCs
• Growth Projections

The market size is estimated to grow by USD 5.7 billion, at a CAGR of 4.46% during the forecast period. The global shift towards 5G communication technology is gathering momentum, with investments in 5G network infrastructure reaching a record USD19.1 billion in 2021, representing a 39% year-over-year growth. This surge in investments is fueled by the anticipated 10,000 Mbps data download speeds and other advanced features of 5G. In response to this growing demand, System-on-Chip (SoC) vendors are releasing innovative products to cater to various application segments, including 5G mmWave antenna modules, multimode modems, base stations, and RF components. These advancements in electronic components and modules are expected to further accelerate the 5G revolution, creating significant business opportunities for SoC providers.

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• Regional Insights

The System-on-Chip (SoC) market is experiencing significant growth due to the increasing demand for miniaturized and power-efficient electronic devices. SoCs integrate all essential components of an electronic system onto a single chip, offering enhanced performance, reduced power consumption, and smaller form factors. This trend is particularly prominent in the automotive, consumer electronics, and IoT sectors, driving the market's expansion. Companies are investing heavily in R&D to deliver advanced SoC solutions that cater to these industries' evolving needs.

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