Global System on Chip (SoC) Market Forecast

In the wave of global digitalization, System on Chip (SoC) technology has become a key force driving innovation in electronic devices. With the rapid development of cutting-edge technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and 5G, the SoC market is facing unprecedented growth opportunities.Mordor Intelligence has released the GLOBAL SYSTEM ON CHIP (SOC) MARKET (2023-2028) report. This report aims to provide a comprehensive analysis of the current status, future trends, market dynamics, and competitive landscape of the global SoC market, offering in-depth market insights for investors, industry participants, and policymakers.According to the report's forecast, from 2023 to 2028, the global SoC market is expected to achieve significant growth. The development of IoT, AI, and 5G technologies, along with the increasing demand for high-performance, low-power electronic devices, are key factors driving this growth. Additionally, the economic recovery post-pandemic and the acceleration of digital transformation have also positively impacted the market.Furthermore, the report indicates that in 2022, the global SoC market size reached $146.04 billion, and it is projected to grow to $211.34 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 7.94%. Digital SoC held the largest market share in 2022, accounting for 47.02%, while mixed-signal SoC is expected to achieve the highest CAGR during the forecast period, reaching 8.75%. The consumer electronics sector held the largest market share in 2022, at 45.89%, and the communications sector is expected to achieve the highest CAGR during the forecast period, at 9.84%. The Asia-Pacific region held the largest market share in 2022, at 53.72%, and is expected to achieve the highest CAGR during the forecast period, at 8.98%.Technological advancements and innovation are driving the development of the SoC market, especially in the fields of 5G, AI, and IoT. As the demand for smaller-sized, higher energy-efficient, and higher-performance devices increases, SoC design and manufacturing are becoming increasingly complex. Global supply chain challenges, including the impact of the pandemic, geopolitical tensions, and rising raw material costs, are affecting the SoC market. Environmental, Social, and Governance (ESG) factors, including attention to sustainability and carbon footprint, are becoming important considerations for SoC manufacturers.