The system-on-chip market has seen significant growth due to rising applications across end-use industries, with smartphones application holding the largest market share. Industries such as consumer electronics, telecommunication, and healthcare have been leading verticals in adopting system-on-chip technology so as to enhance the performance of smart devices, networking devices, and biomedical devices.
Within application devices, smartphones and PC/laptops have been in the forefront, with networking devices and gaming consoles gaining momentum of late. A close study of recent product launches and developments of key industry participants active in the system-on-chip market reveals that industries such as consumer electronics, telecommunication, and healthcare would continue to dominate the market throughout the forecast period.
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Applications such as gaming consoles and digital cameras are expected to witness demand for the adoption of system-on-chip during the coming years, helping the system-on-chip market to take significant strides toward growth in the second half of the forecast period.
Factors such as rise in demand from smart devices, lowered cost per function of ICs, and the increasing demand for multicore technologies is seen as crucial aspects influencing the market growth trends. The system-on-chip market however faces challenges such as overlapping functionalities and the technological advancement in the form of new embedded software that has negatively affected further large scale proliferation of technology.
The existing technology integration and overlapping functionality challenges give way to possible opportunities, such as improvement in the cycle time of the overall system and the 3D integration of system-on-chip. Any further development and exploration of the system-on-chip structure is expected to open new sets of unexplored opportunities, thereby supporting the growth of the system-on-chip market during the forecast period.