by The global System on Module (SoM) market is witnessing robust growth, driven by the increasing demand for modules that incorporate critical elements of electronics design, including microprocessors, RAM, Flash, and power supplies. These modules allow businesses to offload complex design tasks and focus on peripheral and application development. This trend has accelerated due to advancements in wireless communication technologies, intelligent sensors, and industrial automation, making SoMs a critical component in various industries.
Meeting the Demand for Simplified Electronics Design
The primary driving force for the SoM market is the need for comprehensive electronic design solutions. Many SoM vendors now offer modules that go beyond the basics, including Ethernet PHY and WiFi+BT modules. This approach streamlines hardware and software design, allowing customers to concentrate on their core business, reduce time to market, and lower costs by leveraging professionally designed and proven modules.
Industrial Automation Leading the Way
Industrial automation is a significant growth segment within the SoM market, fueled by advancements in automation techniques. Manufacturers are increasingly adopting SoMs for manufacturing, product assembly, supply chain management, and logistics operations. The advantages of integrated computer systems or modules, such as high performance, minimal environmental impact, and excellent energy efficiency, are driving the demand for automation equipment and smart factories.
Asia Pacific Driving Global Growth
Asia Pacific is the largest user of SoMs and is expected to experience the fastest growth in the forecast period. Countries like China, Taiwan, South Korea, and Japan are at the forefront of semiconductor production and electronics manufacturing. Rising GDP per capita in developing nations like China and India is creating a substantial consumer base for high-tech gadgets, contributing to the SoM markets growth. The regions increasing number of electronics manufacturing businesses, along with a skilled workforce, is further boosting market expansion.
Competitive Landscape
Key players in the SoM market, including Microchip Technology, Inc., SoMLabs, Axiomtek Co., Ltd., National Instruments Corporation, Connect Tech Inc., congatec GmbH, Advantech Co. Ltd., Emcraft Systems, AAEON, and MAC, Inc., are introducing innovative products and forming strategic collaborations to meet the growing demand for SoMs.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/system-on-module-market
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This press release first seen on Brilad
COMTEX_442051398/2840/2023-10-18T00:06:58
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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