The system module market size is projected to reach US$ 4713.86 million by 2031 from US$ 2331.95 million in 2023. The market is expected to register a CAGR of 9.2% during 2023–2031. Increasing use of sensors and MEMEs is likely to remain a key trend in the market.
The worldwide lockdown to reduce the transmission of the virus has significantly disrupted the supply chain activities and production capacity across several manufacturers, particularly small and medium enterprise owners. The semiconductor industry was a significant contributor to the demand for electronic components from the industrial sector and end users. The revenue model for microelectronics has declined due to the lack of mass production during the lockdown period. The semiconductor industry gradually regained market share as production facilities restarted their operations by taking social distancing measures. Additionally, work-from-home and remote monitoring strategies also increased the sales of advanced electronics products for improved connectivity. IT and telecommunication industry importance have been highlighted for the communicational purpose, which acknowledged the industry to evolve with new technologies such as high-speed Wi-Fi compatible packaging technology.
A System-on-Module (SOM) presents the core components of an embedded processing system, such as memory blocks, communication interfaces, and processor cores, on a single production-ready printed circuit board (PCB). This modular approach makes a SOM suitable for embedding in end systems, from robots to security cameras. The concept of System-on-Modules evolved from blade servers. These thin servers were created to save storage space and reduce power consumption. The architecture of SOMs influences the lean design mentality behind blade servers. They include only the components required for their intended function in as small a package as possible, and they’re flexible enough to accommodate a wide range of applications.
As flexible core components, SOMs enable rapid development across various technological applications, from consumer electronics to industrial automation, making them essential in modern product design. In the rapidly evolving environment of electronics product design, the System on Module (SoM) methodology has emerged as a key source of transformation. As a result of its compact size, high performance, and cost-effectiveness, SoM is becoming a popular choice among designers and engineers. Therefore, the increased use of SOM in the electronics industry is driving market growth.
SoMs are used in portable medical devices where reliability and compactness are critical. For example, an SoM might be integrated into a handheld ultrasound device, providing the necessary processing power and connectivity in a compact form factor. SoMs are employed in advanced driver-assistance systems (ADAS) where they provide high-performance computing capabilities needed for real-time processing of sensor data. In industrial settings, SoMs are used in programmable logic controllers (PLCs) and human-machine interfaces (HMIs), offering robust and scalable solutions for complex automation tasks.
Key segments that contributed to the derivation of the system on module market analysis are component, hardware type, and application.
The geographic scope of the system on the module market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
APAC dominates the system on module market. Many of the APAC countries are characterized by the quantity of electronic devices required for automotive components, telecommunication devices, consumer electronics, and other industrial types of machinery. The growing number of electronics manufacturing companies in China and India, due to the strong accessibility of skilled human resources, is driving the system on module market.
The regional trends and factors influencing the System on Module Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses System on Module Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2331.95 Million |
| Market Size by 2031 | US$ 4713.86 Million |
| Global CAGR (2023 - 2031) | 9.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The System on Module Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the System on Module Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The system on module market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the system on the module market are listed below:
The “System on Module Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The expected CAGR of the global system on module market is 9.2%.
The global system on module market is expected to reach US$ 4713.86 million by 2031
The increasing use of sensors and MEMEs is anticipated to play a significant role in the global system on module market in the coming years.
The key players holding majority shares in the global system on module market are Microchip Technology, Inc., Advantech Co. Ltd., SoMLabs, Axiomtek Co., Ltd., Connect Tech Inc., National Instruments Corporation, MAC, Inc., congatec GmbH, AAEON, Emcraft Systems, MIPS Technologies Inc., SiFive Inc., and Segate Technology LLC.
Increased use of SOM in the electronics industry and the SOM in portable and wireless devices in various industries are the major factors that propel the global system on module market.
APAC dominates the system on module market.