System on Module Market Size, Share, Growth Analysis, By Type(ARM Architecture, x86 Architecture, Power Architecture and others), By Application(Industrial Automation, Medical, Transportation, Communication), By Region - Industry Forecast 2024-2031

System On Module Market size was valued at USD 1 billion in 2022 and is poised to grow from USD 1.15 billion in 2023 to USD 3.06 billion by 2030, at a CAGR of 15% during the forecast period (2023-2030).

Leading market players in the System on Module (SoM) industry are heavily investing in research and development (R&D) to expand their product portfolios, which is expected to drive further growth in the market. These companies are also undertaking various strategic initiatives to enhance their presence, such as introducing new products, entering into contractual agreements, pursuing mergers and acquisitions, increasing investments, and collaborating with other organizations. To remain competitive in this dynamic and growing market, competitors in the SoM industry must focus on providing cost-effective solutions that meet the evolving demands of customers. 'Advantech Co., Ltd. - Taiwan', 'Congatec AG - Germany', 'Toradex Systems (India) Pvt. Ltd. - India', 'SECO S.p.A. - Italy', 'AAEON Technology Inc. - Taiwan', 'Axiomtek Co., Ltd. - Taiwan', 'Kontron S&T AG - Germany', 'Digi International Inc. - United States', 'Variscite Ltd. - Israel', 'Critical Link, LLC - United States', 'MSC Technologies GmbH - Germany', 'TechNexion Ltd. - Taiwan', 'iWave Systems Technologies Pvt. Ltd. - India', 'EMAC, Inc. - United States', 'Phytec America LLC - United States', 'Advantech-DLoG GmbH - Germany', 'Olimex Ltd. - Bulgaria', 'Gateworks Corporation - United States', 'Eurotech S.p.A. - Italy', 'Avalue Technology Inc. - Taiwan'

The rapid growth of the Internet of Things (IoT) has been a major driver for the SoM market. The need for connected devices and smart solutions across various industries has led to the increased demand for SoM, which provides a compact and integrated platform for IoT applications.

Growing adoption of Internet of Things (IoT): The increasing implementation of IoT across various industries is driving the demand for systems on modules. These modules provide a compact and integrated solution for IoT devices, enabling seamless connectivity and data processing. There is a surge in the demand for embedded devices across industries such as healthcare, automotive, industrial automation, and consumer electronics. System on modules offer a cost-effective and efficient solution for developing embedded systems, fueling their market growth.

The Asia-Pacific region is experiencing significant growth in the SoM market. Factors such as the rapid adoption of advanced technologies, increasing investments in IoT, rising demand for embedded devices in various industries, and the presence of major semiconductor manufacturers in countries like China, South Korea, and Japan contribute to the growth in this region. The expanding manufacturing and automotive sectors, as well as the emergence of smart cities, further boost the demand for SoM solutions in Asia-Pacific.