Allied Market Research recently published a report, titled, “System-on-Chip Market by Type (Digital, Analog, and Mixed Signal) and Application (Consumer Electronics, Telecommunication, and Automotive): Global Opportunity Analysis and Industry Forecast, 2017–2023”. According to the report, the global system-on-chip market accounted for $117.2 billion in 2016 and is expected to reach $205.4 billion by 2023, registering the CAGR of 8.1% during the forecast period.
Rapid growth in the global system-on-chip market is owing to its compact nature, surge in demand for smart and power-efficient electronic devices. However, high initial cost of design & development and maintenance cost hinder market growth. On the contrary, surge in demand for compact and scalable ICs in the electronics industry is expected to create lucrative opportunities for the market players in the near future.
Mixed signal segment dominates the market
The mixed signal segment held the largest share in 2016, contributing about half of the total market share, owing to low power requirement and ease in replacement offered by them. However, the digital SoC segment is expected to register the fastest CAGR of 9.1% from 2017 to 2023, followed by analog SoCs segment.
Automotive segment to portray fastest growth
The automotive segment is projected to register the fastest CAGR of 10% during the study period, owing to increase in demand for small-sized chips for development. However, the consumer electronics segment held the largest share in 2016, contributing about 40% of the total market revenue and is expected to govern the market throughout the study period. Another segment of telecommunication is analyzed in the report.
LAMEA to be the fastest growing region by 2023
The Latin America, Middle East and Africa (LAMEA) region is projected to register the fastest CAGR OF 10.3% during the forecast period, owing to increased digitalization and rise in technological adoption. However, the Asia-Pacific region held the largest share in 2016, contributing one-third of the total market share, owing to rise in demand for high-speed applications such as 5G and need for better security. The other regions such as North America and Europe are also analyzed in the report.
Major market players
The report includes analysis of the major market players in the global system-on-chip industry, including Intel Corporation, Samsung Electronics Co. Ltd., Toshiba Corporation, Broadcom Limited, Apple Inc., Qualcomm Incorporated, NXP Semiconductors N.V., STMicroelectronics N.V., MediaTek Inc., and Taiwan Semiconductor Manufacturing Company Limited.
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