The system on module market has experienced substantial growth, increasing from $2.22 billion in 2023 to $2.43 billion in 2024, at a CAGR of 9.6%. This growth is driven by the adoption of advanced sensor technologies, modular and flexible testing solutions, real-time testing and simulation, cloud-based testing, and data analytics. The market is expected to reach $3.53 billion by 2028, with a CAGR of 9.8%. Key growth drivers include 5G integration, edge computing rise, AI and machine learning demand, IoT ecosystem expansion, and cybersecurity focus. Major trends include customization and configurability, AI accelerators integration, power efficiency, shift to RISC-V architecture, and enhanced security features.
Major Driver In The System On Module Market
The surge in industrial robot deployment is poised to drive the system on module market. Industrial robots, mechanical machines programmed for industrial tasks, incorporate embedded systems assembled using systems on module assemblies. In 2021, the International Federation of Robotics (IFR) reported 3 million operating industrial robots globally, with a 13% increase in global robot installations, reaching 4.35K units compared to 38.4K units in 2020. Forecasts predict a steady 6% growth in robot installations from 2021 to 2024. Consequently, the escalating deployment of industrial robots is a key driver for the system on module market, with market size values in 2023, 2024, and 2028 supporting this trend.
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System On Module Market Competitive Landscape
Axiomtek Co Ltd., Reliance Industries Ltd., Avnet Inc., Advantech Co Ltd., Kontron S&T AG, Mercury Systems Inc., DFI Inc., AAEON Technology Inc., Avalue Technology Inc., iBase Technology Inc., SECO S.p.A., Eurotech S.p.A., Congatec AG, Phytec Messtechnik GmbH, iWave Systems Technologies Pvt Ltd., Toradex AG, TechNexion Ltd., Intrinsyc Technologies Corporation, VersaLogic Corporation, iENSO Inc., MYIR Tech Limited, Enclustra AG, Critical Link LLC, Variscite Ltd., SolidRun Ltd., Shiratech Solutions Ltd., Emtrion GmbH, TorizonCore by Toradex, Forlinx Embedded Technology Co Ltd.
Key System On Module Market Trend
Technological advancement is a key trend in the system on module market. Major companies operating in the system-on-module market are introducing innovative technologies, such as the iW-Rainbow-G46M solderable system on the module, to sustain their position in the market. For instance, in April 2022, iWave Systems, an India-based software company, introduced a new solderable system on a module, the iW-Rainbow-G46M. The new system on the module is based on the NXP i.MX 8XLite application processor technology. It can serve as the foundation for small connection devices.
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System On Module Market Segmentation
The system on module market covered in this report is segmented –
1) By Type: ARM Architecture, x86 Architecture, Power Architecture, Other Types
2) By Component: Hardware, Software
3) By Standard: COM Express, SMARC (Smart Mobile Architecture), Qseven, ETX (Embedded Technology Extended), Other Standards
4) By Application: Industrial Automation, Medical, Entertainment, Transportation, Test And measurement, Communication, Other Applications
By Geography:The regions covered in the system on module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the system on module market in 2023.
The System On Module Global Market Report 2024 furnishes information about the global system on module market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
