Report : Europe 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 8.4% CAGR, the Europe System on Module (SoM) Market is speculated to be worth US$ 900.41 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe System on Module (SoM) market was valued at US$ 554.11 million in 2022 and is expected to reach US$ 900.41 million by 2028, registering an annual growth rate of 8.4% from 2022 to 2028. The surging embedded computing market and proliferation of industrial automation are the critical factors attributed to the market expansion.
There is a high adoption of Internet of Things and embedded computers in industrial applications. The need of software-defined radio (SDR) in the automotive and transportation sectors, and benefits associated with system on module, such as reduced cost, and greater stability and reliability, are propelling the market growth. Advancements in industrial technologies have led to the introduction of wireless connectivity technologies, smart sensors, and imaging solutions, which has enabled manufacturers to offer a “single chip with multiple cores” system to improve applications and boost reliability. Further, growing demand for system on modules in rugged embedded computers that are used in the aerospace & defense industry further boosting the market growth. System on module integrates the volatile memory technologies such as RAM and DRAM, and non-volatile flash memory of a processing subsystem on a single module, which are widely used for building end products using embedded platforms. Thus, the rising demand for embedded systems due to their computing performance and ultralow power consumption is driving the growth of system on modules market.
On the contrary, increased complexity of advanced electronics devices hurdles the growth of Europe System on Module (SoM) Market.
Based on component, the Europe System on Module (SoM) Market is bifurcated into hardware and software. The hardware segment held 81.1% market share in 2022, amassing US$ 449.58 million. It is projected to garner US$ 701.48 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on hardware type, the Europe System on Module (SoM) Market is segmented into ARM, X86, Power, FPGA, GPU, DSP, and RISC-V. The ARM segment held 31.6% market share in 2022, amassing US$ 141.87 million. It is projected to garner US$ 173.71 million by 2028 to expand at 3.4% CAGR during 2022–2028.
By the standard, the Europe System on Module (SoM) Market is fragmented into Qseven, COMExpress, and SMARC. With 42.0% share of the domain, the Qseven segment dominated the market in 2022. It accrued US$ 232.50 million in 2022 and is estimated to generate US$ 357.38 million by 2028 to grow at a CAGR of 7.4% over the forecast period.
By the application, the Europe System on Module (SoM) Market is fragmented into industrial automation, entertainment, medical, transportation, test and measurement, video application, and others. With 21.3% share of the domain, the industrial automation segment dominated the market in 2022. It accrued US$ 118.27 million in 2022 and is estimated to generate US$ 179.37 million by 2028 to grow at a CAGR of 7.2% over the forecast period.
Based on country, the Europe System on Module (SoM) Market is categorized into Germany, France, Italy, Russia, the UK, and the rest of Europe. Our regional analysis states that Germany captured 30.1% market share in 2022. It was assessed at US$ 166.85 million in 2022 and is likely to hit US$ 270.02 million by 2028, exhibiting a CAGR of 8.4% during the forecast period.
Key players dominating the Europe System on Module (SoM) Market are AAEON; Advantech Co. Ltd.; Axiomtek Co., Ltd.; congatec GmbH; Connect Tech Inc.; Emcraft Systems; MAC, Inc.; Microchip Technology, Inc.; MIPS Technologies Inc.; National Instruments Corporation; Segate Technology LLC; SiFive Inc.; and SoMLabs among others.
- In 2020, the joint cooperation between Covade and SoMLabs aims to provide engineering service for projects across Europe. Covade has got significant experience and expertise in the design of embedded electronic systems.
- In 2020, the cooperation between Covade and SoMLabs aims to provide engineering service for projects across Europe. Covade has got significant experience and expertise in the design of embedded electronic systems.
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