The global market for system-on-chip is expected to grow alongside the revolutionary development of smart devices and computer systems. System-on-chip or a system on a chip is a closed circuit that integrates various components of a smart device, computer system, or electronic gadget. System-on-chip uses mixed signals, radio-frequencies, and analog signals in order to accentuate the functioning of smart devices. Input and output ports, central processing units (CPUs), and memory ports are all laid on a single substrate by system-on-chip.
System-on-chip is substantially different from motherboards that integrate the components of a device through a circuit board after separating the components on the basis of type and function. It is anticipated that the demand within the global market for system-on-chip would keep trailing along an upwards graph due to the rapid advancements in the domain of electronics and computer systems. Furthermore, the utility offered by system-on-chips is greater than the traditional PC architecture consisting of motherboards. Tremendous opportunities for growth float in the global market for system-on-chip, and the market players are expected to pounce onto these opportunities to increase their profit margins.
Transparency Market Research (TMR) predicts that the global market for system-on-chip would expand at a starry CAGR of 11.0% over the period between 2018 an 2026. The global market’s total worth is expected to progressively grow over the forecast period, reaching a net value of US$ 206.79 Bn by the end of the forecast period.
Popularity of Smart Devices
Smart devices such as smart phones, personal computers, and laptops have become an indispensable part of commercial and industrial units. Furthermore, a large population of students and working professionals own more than on smart device, thus, inviting commendable demand for these devices. This factor has played a pivotal role in the growth of the global market for system-on-chip and is expected to create new opportunities for market players. Furthermore, the networking devices, digital cameras, and gaming consoles have also become extremely popular amongst the masses, and this has further fortified the global market for system-on-chip.
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Development of End-Use Industries
The growth of the global market for system-on-chip largely hinges on the development of several end-user industries. To exemplify, the consumer electronics industry extensively uses closed circuits to integrate the various components of a gadget; the ease offered by system-on-chips while integrating these components has led to their adoption across the consumer electronics industry. Besides this, industries such as healthcare, defense and aerospace, automotives, and telecommunications have emerged as ardent consumers of the system-on-chip market.
Key Business Strategies
Since the global market for system-on-chip caters to a wide array of industries, the market players are expected to customize their offerings to fit the needs of all the industries. Furthermore, the leading players in the global market for system-on-chip are projected to collaborate with huge corporations in order to retain a regular inflow of demand. Some of the key players in the global market are Apple Inc., Infineon Technologies, Broadcom Limited, Intel Corporation, and Qualcomm Inc.