Growth of Industrial Robot Deployment: A Key Driver Transforming the System On Module Market 2024

Growth of Industrial Robot Deployment: A Key Driver Transforming the System On Module Market 2024

System On Module Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

System On Module Market Overview

The Business Research Company’s System On Module Global Market Report for 2024 presents insights into market growth. The report reveals significant expansion in the system-on-module market. This sector is expected to grow from .22 billion in 2023 to .43 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.6%. The adoption of sensor technologies and real-time testing solutions primarily drives this growth.

Projected Growth Rate and Market Drivers

Analysts anticipate the system on module (SoM) market will reach .53 billion by 2028. This growth will occur at a CAGR of 9.8%. The integration of 5G connectivity and the rise of edge computing significantly influence this market. Increased demand for artificial intelligence (AI) and machine learning also contributes to this trend. Furthermore, the expansion of Internet of Things (IoT) ecosystems plays a pivotal role in driving market dynamics.

Customization and configurability are prominent trends in this sector. Companies focus on integrating AI accelerators while emphasizing power efficiency. Additionally, a shift towards RISC-V architecture and improved security features in embedded systems represent key advancements in the market.

Key Factors Driving Market Growth

The increasing deployment of industrial robots significantly enhances the system on module market. These robots, designed for various industrial tasks, utilize embedded systems derived from system on module assemblies. According to the International Federation of Robotics, three million industrial robots were operational worldwide in 2021. Installations of these robots are projected to grow steadily at a rate of 6% from 2021 to 2024, further fueling market expansion.

Leading companies in this market include Axiomtek Co Ltd., Reliance Industries Ltd., and Avnet Inc. Other key players consist of Advantech Co Ltd., Kontron S&T AG, and Mercury Systems Inc. These organizations continue to innovate and adapt to the evolving demands of the industry, strengthening their market positioning.

Technological Innovations and Trends

Technological innovation remains a core trend within the system-on-module market. For instance, iWave Systems launched the iW-Rainbow-G46M solderable system-on-module in April 2022. This module is based on the NXP i.MX 8XLite application processor technology, which serves as a foundation for compact connection devices. This launch exemplifies the market’s commitment to developing advanced solutions to meet growing demands.

The report segments the system-on-module market by type, component, standard, and application. The types include ARM architecture, x86 architecture, and Power architecture, among others. Key applications span industrial automation, medical, entertainment, and transportation sectors.

Regional Insights and Market Scope

In 2023, Asia-Pacific emerged as the largest region in the system on module market. The report covers various geographical regions, including Western Europe, North America, and the Middle East. The report also provides extensive market size data and analysis for both historical and future periods.

The System On Module Global Market Report 2024 by The Business Research Company is an essential resource. It offers valuable insights into market drivers, significant players, and growth potential. This report aids companies in identifying segments with the highest growth opportunities, making it a crucial tool for strategic planning.

For further insights, explore additional reports from The Business Research Company, including the System On Chip Global Market Report and the System Basis Chip Global Market Report. Each report provides unique perspectives on market trends and growth opportunities.

For inquiries, please contact Oliver Guirdham at The Business Research Company. You can reach him at +44 20 7193 0708 or via email at info@tbrc.info.