Report : Asia Pacific System on Module (SoM) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Processor Type (ARM, X86, POWER, FPGA, GPU, and DSP), Application (Industrial Automation, Entertainment, Medical, Transportation, Test and Measurement, and Others), and Standard (Qseven, SMARC, and COMExpress)
At 10.0% CAGR, the Asia Pacific System on Module (SoM) Market is speculated to be worth US$ 1,405.29 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific System on Module (SoM) market was valued at US$ 792.06 million in 2022 and is expected to reach US$ 1,405.29 million by 2028, registering an annual growth rate of 10.0% from 2022 to 2028. The new product developments in ARM architecture and rise in government initiatives for industrial expansion in Asia Pacific are the critical factors attributed to the market expansion.
Lesser complexity of system on modules based on the ARM architecture, compared to those based on x86 processors, is accelerating the adoption of ARM-based processors. The demand for ARM processors in SoM is increasing as they come with reduced instruction sets and support single cycle computing. Leading manufacturers of ARM-based system on module—such as Congatec AG, Digi International, Kontron, and ARM Holdings Corporation—are engaged in designing and developing ARM architecture, thereby contributing to the growth of the market. The growing adoption of ARM architecture-based system on modules by small and medium scale enterprises; rising demand for advanced aerial imaging technology by the various end user verticals; and increasing application of system on modules in a wide range of applications, including industrial automation, medical, entertainment, transportation, test and measurement, and communications, is anticipated to provide lucrative opportunities for the growth of the system on module market players during the forecast period.
On the contrary, increased complexity of advanced electronics devices hurdles the growth of Asia Pacific System on Module (SoM) Market.
Based on component, the Asia Pacific System on Module (SoM) Market is bifurcated into hardware and software. The hardware segment held 82.4% market share in 2022, amassing US$ 652.92 million. It is projected to garner US$ 1,131.53 million by 2028 to expand at 9.6% CAGR during 2022–2028.
Based on hardware type, the Asia Pacific System on Module (SoM) Market is segmented into ARM, X86, Power, FPGA, GPU, DSP, and RISC-V. The ARM segment held 29.9% market share in 2022, amassing US$ 195.25 million. It is projected to garner US$ 262.50 million by 2028 to expand at 5.1% CAGR during 2022–2028.
By the standard, the Asia Pacific System on Module (SoM) Market is fragmented into Qseven, COMExpress, and SMARC. With 42.9% share of the domain, the Qseven segment dominated the market in 2022. It accrued US$ 339.49 million in 2022 and is estimated to generate US$ 569.91 million by 2028 to grow at a CAGR of 9.0% over the forecast period.
By the application, the Asia Pacific System on Module (SoM) Market is fragmented into industrial automation, entertainment, medical, transportation, test and measurement, video application, and others. With 22.3% share of the domain, the industrial automation segment dominated the market in 2022. It accrued US$ 176.39 million in 2022 and is estimated to generate US$ 293.00 million by 2028 to grow at a CAGR of 8.8% over the forecast period.
Based on country, the Asia Pacific System on Module (SoM) Market is categorized into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. Our regional analysis states that China captured 31.6% market share in 2022. It was assessed at US$ 250.13 million in 2022 and is likely to hit US$ 413.44 million by 2028, exhibiting a CAGR of 8.7% during the forecast period.
Key players dominating the Asia Pacific System on Module (SoM) Market are AAEON; Advantech Co. Ltd.; Axiomtek Co., Ltd.; congatec GmbH; Connect Tech Inc.; Emcraft Systems; Microchip Technology, Inc.; MIPS Technologies Inc.; National Instruments Corporation; Segate Technology LLC; SiFive Inc.; and SoMLabs among others.
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