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).
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Technavio has published a new market research report on the global SoC test equipment market from 2019-2023. (Graphic: Business Wire)
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.
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
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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View source version on businesswire.com: https://www.businesswire.com/news/home/20190530005040/en/