New York City, New York Jul 25, 2019 (Issuewire.com) - System-on-chip refers to a microchip on which various electronic components such as controllers, timing units, memory units, transistors, peripherals, are integrated on a single chip. It includes both software as well as the hardware that result in better response time with efficient power consumption. System-on-chip is an effective way to enhance the performance of the device and also helps to meet the increasing computational demand. The global system-on-chip market was USD 89.3 billion in 2018 and is estimated to reach USD 177.03 billion by 2025, registering a CAGR of 10.27% during the forecast period.
Growth by Region
In 2018, Asia Pacific region accounted for the highest share of the market which is attributed to the increasing acceptance of connected devices, increasing adoption of IoT based technologies in various end-user industries, and growing demand for power-efficient electronic devices such as smartphones and wearables. Asia Pacific is expected to continue its dominant position by 2025 followed by North America, Europe and LAMEA. Moreover, in terms of revenue, China is likely to hold the major market share in this region due to the increasing usage of smart devices across the country. North America is expected to show a significant growth rate, owing to the increasing adoption of consumer appliances.
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Drivers vs. Constraints
The major drivers of the global system-on-chip market include rising adoption of Internet of Things (IoT), its compact nature, rise in demand for smart, and power-efficient electronic devices. The major restraint of the market is the high initial cost of design & development and maintenance.
Industry Trends and Updates
On the basis of application, smart phones held the largest market share in 2017, and are anticipated to register the highest CAGR during the forecast period. Based on type, mixed-signal system-on-chip has dominated the global market in 2017 due to its’ low power consumption and will continue to do so during the forecast period. Moreover, continuous rise in requirement of compact and scalable ICs in the global electronic industry is anticipated to present numerous opportunities for market expansion.
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