Global System-on-Chip (SoC) Market 2019-2023
About this market
The growing demand for IoT devices will foster the growth of the system-on-chip (SoC) market in the forthcoming years. The spending on the IoT by several market vendors grows, the demand for connected devices will also increase. In the generation of large volumes of data, various connected devices are being used. Therefore, several vendors in the market are introducing SoCs for IoT applications, as it offers reliable, secure, fast, scalable, and cost-efficient solutions. And it is increasingly being deployed across complex business environments to support the processing of large volumes of data at high speeds and reduced error rates. Thus, the adoption of the IoT is driving the demand for connected devices, which is creating the demand for SoCs. Technavio’s analysts have predicted that the system-on-chip (SoC) market will register a CAGR of over 6% by 2023.
Growing investment in smart cities
The growing investments in smart city projects lead to the development of a network to facilitate machine-to-machine (M2M) communication. This will create demand for smart lighting, smart meters, and smart appliances. These devices incorporate an extensive number of MCUs, MPUs, and several analogs and mixed-signal components, which will drive the demand for SoCs during the forecast period.
The dependency of SoC vendors on IP core providers
The vendors with high financial resources will increase their footprint, and small vendors will find it difficult to compete with them in terms of quality, technology, and price. The complexity of IP cores will significantly pose a high challenge to SoC designers when it comes to integrating an acquired IP core on a design IP base.
For the detailed list of factors that will drive and challenge the growth of the system-on-chip (SoC) market during 2019-2023, view our report.
With the presence of few numbers of companies, this market appears to be fairly concentrated and with all companies constantly focusing on improving their market positions, the competitive environment among the players is quite intense. By providing a complete analysis of the market’s competitive landscape and with information on the products offered by companies, this system-on-chip (SoC) market analysis report will allow the clients to assess the market potential and design innovative strategies to strengthen their market position. Apple Inc., Huawei Technologies Co. Ltd., MediaTek Inc., Qualcomm Technologies Inc., and SAMSUNG ELECTRONICS CO. LTD, are some of the major companies covered in this report.
Huawei Technologies Co. Ltd.
Qualcomm Technologies Inc.
SAMSUNG ELECTRONICS CO. LTD.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook