The micro system-on-module industry is expected to come across higher growth opportunities led by the increasing demand for miniaturization in electronic systems.
NEW YORK, United States, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “ Micro System-On-Module (SOM) Market By End-User (Robotics, Automotive, Industrial Automation, Medical, Aerospace, And Others), By Application (Medical Devices, Blade Servers, Network Appliances, Internet Of Things, Data Acquisition, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030 ” in its research database.
“According to the latest research study, the global Micro System-On-Module (SOM) Market size was valued at approximately USD 956.25 million in 2022. The market is expected to grow above a CAGR of 9.56% and is anticipated to reach over USD 1956.9 million by 2030.”
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Micro System-On-Module (SOM) Market Overview:
A micro system-on-module (SOM) is an integral component of modular embedded computing solutions. Standard micro-SOM dimensions range from 25mm x 25mm to 30mm x 40mm with a height of 3.5mm. In other words, they can be referred to as the compact version of the more widely recognized SOM, which is responsible for providing the core units of all embedded processing system types, including memory blocks, communication interfaces, and processor cores. All of these components are installed on a singular PCB or printed circuit board that is production-ready.
SOMs have become extremely popular in recent times and are used extensively in applications such as security cameras and robots owing to the modular approach employed by system-on-modules for functional purposes. Moreover, the micro version of SOM, which promotes reduced power consumption, has demonstrated outstanding compatibility with modern embedded systems, such as wearables and the Internet of Things (IoT), which is expected to boost the market for micro-SOM over the forecast period. Although the global micro system-on-module market's growth trajectory appears promising, it will be subject to certain growth constraints and challenges in the coming years.
Key Insights from Primary Research
- As per the analysis, the Micro System-On-Module (SOM) market share is likely to grow above a CAGR of around 9.56% between 2023 and 2030.
- The Micro System-On-Module (SOM) market size was worth around US$ 956.25 million in 2022 and is estimated to hit approximately US$ 1956.9 million by 2030 . Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The micro system-on-module market is projected to grow at a significant rate due to the growing demand for sustainable packaging
- Based on end-user segmentation, automotive was predicted to show maximum market share in the year 2022
- Based on application segmentation, Internet of Things was the leading application in 2022
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022
The report contains qualitative and quantitative research on the global Micro System-On-Module (SOM) market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Micro System-On-Module (SOM) market include;
- ADL Embedded Solutions Inc
- Atmel Corporation
- National Instruments Corporation
- Toradex AG
- SolidRun Ltd.
- MEN Micro Inc.
- VIA Technologies Inc.
- Infineon Technology
- Intel Corporation
- Texas Instruments
- Technique Innovator Inc.
- Advantech Sealevel Systems
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Micro System-on-Module (SOM) Market: Growth Drivers
- Increasing industrial automation to push higher growth in the market
Micro system-on-module (SOM) market growth is anticipated to be sustained by the rising demand and necessity for industrial automation. This trend entails the utilization of innovative robotics and computer software for the ultimate control of processes and machinery. Industrial automation focuses predominantly on business functions such as quality control, production, and material handling. There are numerous benefits to adopting industrial automation. Among them are attaining greater production process flexibility, increased productivity, cost reduction, superior safety, and increased human capacity. According to studies, companies that invest in automation can increase their productivity by over 400%. It can also result in cost savings of nearly 79%.
In addition, the ongoing changes and recent developments in industrial automation are anticipated to influence the demand for automation-promoting technologies. For example, the widespread use of virtual reality (VR) and augmented reality (AR) not only in the entertainment industry but also in other industries, such as healthcare, may contribute to a higher global market growth rate. According to market research, AR and VR in the healthcare industry are anticipated to become a USD 18 billion market by 2030.
Micro System-on-Module (SOM) Market: Restraints
- Performance limitations in comparison to custom-made PCB to restrict the market growth
The market growth trend for micro system-on-modules may be hampered by the performance limitations of micro SOM when compared to more traditionally used customized printed circuit boards, particularly for basic projects. PCBs are known to be more affordable and cost-effective. Additionally, they are simpler to produce and maintain over time. Micro SOM market size could be further constrained by innovations aimed at producing smaller and of a higher quality PCBs. Integrating new components such as micro system-on-modules into legacy systems further inhibits the micro SOM industry's expansion.
Micro System-On-Module (SOM) Market: Segmentation
The global micro system-on-module (SOM) market is segmented based on end-user, application, and region.
Based on end-user, the micro system-on-module industry segments are robotics, automotive, industrial automation, medical, aerospace, and others. In 2022, the highest growth was observed in the automotive segment.
Based on application, the micro system-on-module industry is divided into medical devices, blade servers, network appliances, Internet of Things, data acquisition, and others. In 2022, the Internet of Things dominated the global market growth. IoT deals with a large network of things or physical objects embedded with software, sensors, and other systems.
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Micro System-On-Module (SOM) Market By End-User (Robotics, Automotive, Industrial Automation, Medical, Aerospace, And Others), By Application (Medical Devices, Blade Servers, Network Appliances, Internet Of Things, Data Acquisition, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030
- Asia-Pacific to dominate market growth rate during the projection period
Research indicates that Asia-Pacific will dominate the global micro system-on-module (SOM) market by 2030. It is anticipated that China, Taiwan, India, Japan, and other nations will lead the growth. Taiwan is presently the leading supplier of all types of semiconductors in the world. In 2021, the nation's demand for electronic components increased by nearly 27% compared to 2020. In addition, China is the second-leading producer of semiconductors. Increasing population, demand for and use of electronic devices, and China's regional dominance as a manufacturing hub for all electronic and non-electronic products are among the most important factors contributing to the Asia-Pacific region's higher growth.
|Report Attribute||Report Details|
|Market Size in 2022||USD 956.25 Million|
|Market Forecast in 2030||USD 1956.9 Million|
|Growth Rate||CAGR of 9.56%|
|Forecast Years||2023- 2030|
|Key Companies Covered||ADL Embedded Solutions Inc, Atmel Corporation, National Instruments Corporation, Toradex AG, SolidRun Ltd., MEN Micro Inc., VIA Technologies Inc., Infineon Technology, Intel Corporation, Texas Instruments, Technique Innovator Inc., and Advantech Sealevel Systems.|
|Segments Covered||By End-User, By Application, and By Region|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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The global Micro System-On-Module (SOM) market is segmented as follows:
- Industrial Automation
- Medical Devices
- Blade Servers
- Network Appliances
- Internet of Things
- Data Acquisition
- The U.S.
- The UK
- Rest of Europe
- Southeast Asia
- Rest of Southeast Asia
The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America
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Key questions answered in this report:
- What is micro system-on-module (SOM)?
- Which key factors will influence micro system-on-module (SOM) market growth over 2023-2030?
- What will be the value of the micro system-on-module (SOM) market during 2023-2030?
- What will be the CAGR value of the micro system-on-module (SOM) market during 2023-2030?
- Which region will contribute notably towards the micro system-on-module (SOM) market value?
- Which are the major players leveraging the micro system-on-module (SOM) market growth?
- What can be expected from the global micro system-on-module (SOM) market report?
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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