A system on a chip or SoC refers to an integrated circuit that integrates all the components of a computer or other electronic systems into a single chip. It includes digital, analog, mixed-signal, and often radio-frequency functions—all on one integrated circuit. SoCs are widely used in smartphones, tablets, laptops, desktops and a variety of consumer electronic devices owing to advantages such as reduced product size and cost. The increasing demand for consumer electronics and miniaturization of devices has boosted the usage of SoCs.

The global System on a Chip (SoC) Market is estimated to be valued at US$ 164.45 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity
The booming consumer electronics industry is estimated to drive the demand for SoCs during the forecast period. The rising penetration of smartphones, tablets, smart homes devices and other wearable devices worldwide has fueled the growth of consumer electronics industry. According to Coherent Market Insights, the global consumer electronics market is expected to reach US$ 1,605 Bn by 2027, growing at a CAGR of 5.5% during the forecast period. The increased usage of various consumer electronic devices has led to surge in demand for advanced and miniaturized components like SoCs. This burgeoning consumer electronics industry provides huge growth opportunities for the SoC market.
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Porter’s Analysis
Threat of new entrants: The SoC market has high entry barriers due to huge capital requirements for R&D. New companies also find it difficult to attain economies of scale.

Bargaining power of buyers: Individual buyers have low bargaining power due to the highly specialized nature of SoC's. However, large OEMs enjoy significant bargaining power due to large volume purchases.

Bargaining power of suppliers: A few large foundries dominate the global semiconductor fabrication market. This enables them to exercise some control over prices for their manufacturing services.

Threat of new substitutes: No direct substitutes exist for SoC's. However, alternatives like multi-chip modules pose a potential threat.

Competitive rivalry: Intense competition exists among key players to gain market share and introduce new innovative products.

SWOT Analysis
Strength: Technology leadership, huge R&D investments, portfolio of specialized designs.
Weakness: High capital expenditure, reliance on outsourcing of manufacturing, pricing pressures from OEMs.
Opportunity: Growth in connected devices and IoT, opportunities in automotive and 5G infrastructure.
Threats: Trade disputes impacting supply chain, growing protectionism.

Key Takeaways
The rapid growth of IoT connected devices and proliferation of 5G networks is expected to further propel the Global System On A Chip (SoC) Market Size during the forecast period.

Regional Analysis: The global SoC market is dominated by a few Asia Pacific countries like China, South Korea and Taiwan. China in particular has emerged as the leading producer and consumer of SoCs globally due to its huge electronics manufacturing base and growing domestic market.

Key players operating in the SoC market are Honor Technology, Inc., Vesta Healthcare (Hometeam Care, Inc.), HomeHero, Inc., Seniorlink, Inc. , GreatCall, Inc., Cariloop, Inc., Room2Care, Ltd., UnaliWear, Inc., Care.com, Inc., Ianacare.com, Mable, Homage, Ouihelp, The Helper Bees, Elder, and CareLinx, Inc. Major players are focused on developing advanced System-on-Chip designs for applications in smartphones, laptops, AI assistants, smart home devices and automobiles.

For More Insights, Read: https://www.trendingwebwire.com/system-on-a-chip-soc-market-trends-growth-and-regional-outlook-2024-2030/