System-on-Chip (Soc) Market Is Expected to Reach Usd 71.98 Billion in 2021

System-on-chip (SoC) is an integrated circuit (IC) that assimilates the complex components of a computer or other electronic devices in a single chip, generally called microchip. The technology that we use today has become smarter and more complex. Whether it is our personal computers, smartphones, or other consumer electronic devices, they have become more dynamic and sophisticated to adapt to our changing preferences. A system-on-chip is embedded in such complex devices and it acts as their central processor.

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Consumers nowadays demand highly power-efficient and smarter electronic devices. Additionally, the market for smart appliances and digital homes has registered tremendous growth in the last two decades. Such changes are largely attributed to advances introduced in device technology that have enabled the integration of billions of transistors on a chip with extremely high processing capabilities. Hence, the growth of the system-on-chip market is directly proportional to the increasing demand for embedded graphics and multicore technologies.

Increased Integration of SoCs across Smart Devices to Drive Global SoC Market

The applications of SoCs have tremendously increased in the last couple of years. The technology is now used across a myriad of smart electronics such as wireless communication equipment, smartphones, electrocardiogram (ECG) telemetry devices, automotive body electronics, and others.Increasing demand for energy-efficient devices has ushered in new developments in the technology, wherein the SoCs inbuilt in devices have become smaller in size, function faster than their predecessors, and consume less power. The global system-on-chip market is poised to grow exponentially with the evolution of SoC technologies and increased manifestation of Moore’s law. According to a report published recently by...