Global System-on-Chip (SoC) Market 2019-2023 | Increase in 5G Investments to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
New market research study by Technavio on the global system-on-chips (SoC) market projects the market to grow at a CAGR of more than 6% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
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Technavio has published a new market research report on the global system-on-chip (SoC) market from 2019-2023. (Graphic: Business Wire)
Growing adoption of SoCs in robotics
Robotics are increasingly being adopted in various process and discrete manufacturing industries including automotive, healthcare, electronics, and military and defense. SoCs are integrated into robots as they include embedded software and hardware, which can help reduce the time to market and the total cost of ownership. SoCs provide network interfaces, operating system drivers, and machine learning frameworks, which are essential for robots. As SoCs are highly suitable to be integrated into robotics, the growing demand for robotics across numerous applications will fuel the growth of the SoCs market during the forecast period.
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Increase in 5G investments
5G, the next generation of communication technology, is gaining immense popularity across the world. There have been numerous investments in 5G globally in recent times, which is creating high demand for 5G network infrastructure. This is accelerating the development of electronic components and modules including 5G mmWave antenna modules, 5G base stations, and several 5G RF products. To capitalize on the growing investments in 5G, SoC vendors are introducing products that support 5G to enter a wide range of application segments. Thus, an increase in the investments in 5G will propel the adoption of SoCs during the forecast period.
According to a senior analyst at Technavio, “The SoCs market is witnessing an increase in the number of strategic partnerships and acquisitions among SoC manufacturers and other stakeholders including telecommunication network service providers, smartphone manufacturers, and semiconductor IP providers. Such partnerships will allow vendors to expand their product portfolio, improve their geographic presence, and expand their sales and distribution networks.”
Dependency of SoC vendors on IP core providers
Semiconductor manufacturers mostly rely on IP providers for the development of high-performance SoCs. However, integrating acquired semiconductor IP blocks from third-party vendors into SoCs is challenging. The complexity of IP integration and the IP design increases the number of IP blocks used, which doubles the total cost of acquiring IPs and increases the production time cycle. This will pose a high challenge to SoC designers when it comes to integrating an acquired IP core on a design IP base. However, companies are adopting exhaustive measures to tackle these challenges, which will positively impact market growth during the forecast period.
Top players in the global system-on-chips (SoC) market:
- Apple Inc.
- Huawei Technologies Co. Ltd.
- MediaTek Inc.
- Qualcomm Technologies Inc.
- SAMSUNG ELECTRONICS CO. LTD.
Some of the key topics covered in the global system-on-chips (SoC) market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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