LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global system-on-chip (SOC) test equipment market predicts the market to witness a CAGR of about 9% during the forecast period. This research report segments the market by application (consumer electronics; IT and telecommunication; automotive; and others) and geography (APAC, Americas, and EMEA).
Advent of autonomous vehicles to gain popularity
The advent of autonomous vehicles is likely to foster the growth of SoC test equipment market during the next few years. Global automotive industry is anticipating large-scale investments in the development of autonomous vehicles. Autonomous vehicles deploy many sensors which send signals to a computing platform built on SoCs. Therefore, there will be a rise in demand for SoC from autonomous vehicles. This is encouraging several market players to introduce powerful and complex SoCs. Thus, with the rising development of SoCs for autonomous vehicles, the global system-on-chip (SOC) test equipment market will witness a surge over the next few years.
Consumer electronics application segment to garner the highest share
The consumer electronics segment uses SoC test equipment to check several consumer electronic products including smartphones, smartwatches, tablets, and smart home appliances. The market share of this segment is quite high as consumer electronics are sold in significantly large numbers. SoCs used in consumer electronics not only reduce power consumption but also increase run time on a single charge. In addition, these chips help in miniaturization of consumer products. Therefore, with the rise in adoption of SoC in consumer electronics, the demand for SoC test equipment will increase in the forthcoming years.
“Increasing penetration of smart technologies coupled with the growing trend of smart homes will propel the demand for consumer electronics during the forecast period. This rising adoption of innovative technologies will create considerable growth opportunities for SoC test equipment manufacturers leading to significant market growth over the forecast period,” says a senior research analyst at Technavio
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System-on-chip (SOC) test equipment to witness fastest adoption in the APAC region.
APAC will witness the fastest SoC test equipment market growth owing to several factors including the rise in demand for mobile communication devices and growing investments in the telecommunication network infrastructure. In addition, APAC has significant growth potential with respect to implementation of 4G and 5G technologies in emerging economies including Malaysia, Indonesia, and India. Therefore, the increasing focus on improving telecommunication network infrastructure in the region will further accelerate the demand for SoC used in communication equipment and base stations. This, in turn, will fuel the demand for SoC test equipment in the APAC region in the upcoming years.
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Some of the key topics covered in the global system-on-chip (SoC) test equipment market analysis include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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