System on Module Market Trends

Growth Drivers

• Increase in Industrial Robots Drives System on Module Market Growth- It is anticipated that the system on module market will grow as industrial robot adoption increases. Mechanical devices created and programmed to do industrial activities are known as industrial robots. Embedded systems on module assemblies are used in the assembly of these industrial robots. For instance, the International Federation of Robotics (IFR) estimates that 3 million industrial robots will be in use globally in 2021. The number of robots installed worldwide increased by 13% to 4.35K, from 38.4K in 2020. From 2021 to 2024, the number of robot installations is expected to increase at a consistent rate of 6%. Consequently, the system on module market is being driven by the growing use of industrial robots.
• Increase in The Market for Wireless and Portable Gadgets- One of the most important needs for wireless and portable devices is optimal space and functionality, which has been achieved by the system's increasing miniaturization of modules. Utilizing the same hardware that will be used in their final product, developers may write application software. Therefore, during the forecast period, the growing demand for wireless and portable gadgets is anticipated to propel the expansion of the system on module market. Due to the usage of IoT, AI, and machine learning technologies, the market for wearable and portable devices is expanding dramatically. As a result, the demand for more compact, user-friendly gadgets is rising quickly.
• Technological Developments Changing the Module Market System- One significant trend in the system-on-module industry is technological improvement. To maintain their market share, major players in the system-on-module space are offering cutting-edge technologies like the iW-Rainbow-G46M solderable system on module. For example, the India-based software business iWave Systems unveiled the iW-Rainbow-G46M, a novel solderable system on a module, in April 2022. The NXP i.MX 8XLite application processor technology serves as the foundation for the new system on the module. It can act as the basis for tiny connecting devices.

Challenges

• Electronic Devices' Complicated Integration Restrains Market Growth- To simplify the design process, hardware manufacturers are concentrating on creating numerous systems features on a single module. However, the growing expense of installing cutting-edge technology equipment might potentially impede low- and middle-class consumers' market expansion. Furthermore, devices become increasingly sophisticated when fully interconnected systems are adopted. The market is growing less quickly as more components are added, such as different operating voltages, modes, and functionalities.
• The system on module market growth rate may be constrained by a shortage of qualified specialists or system operators.
• The rate of system expansion on the module market will be further inhibited by the system complexity found in x86-based modules.