Since the requirement for embedded computing has been spiraling upward, the market for system on module in European countries has been progressing considerably. Surging at a 10% CAGR between 2020 and 2026, the Europe system on module industry size is anticipated to surpass $1 billion by the end of the forecast timeframe.
Embedded computing systems can utilize SoM for controlling, monitoring, and performing a specific function through execution of commands. The microcontrollers and microprocessors, which are incorporated into these modules, are some basic components of the embedded computing systems. They are being used across numerous applications including banking & finance, office automation, automobile, healthcare, home applications, and security & defense among others. Since the integration of these modules ensures higher accuracy, higher speed, enhanced reliability, greater adaptability, and lower power consumption as compared to conventional modules, the Europe system on module market is likely to witness an upsurge.
Another key factor pushing the expansion of the market is the increasing adoption of autonomous vehicles. According to a 2018 press release of the European Patent Office, the growth in the number of applications for patents pertaining to autonomous vehicles is nearly 20 times faster when compared to other technologies across the region. This rapid advancement in the development of technology is likely to have a direct bearing on the Europe system on module market size.
The growing demand for AI, advanced telematics, vehicle-to-everything or V2X communication systems, and ADAS by the manufacturers of autonomous vehicles has been adding to the market revenue. Thus, the Europe system on module market has been gaining substantial momentum, driven by the surge in demand for self-driving vehicles and connected cars across the region.
The industry share from medical segment is projected to expand at a 6.5% CAGR through the forthcoming times. During 2019, the segment accounted for almost 10% of the total Europe system on module market share and is certain to gain higher revenue by 2026. The integration of system on modules into wearable medical devices has been responsible for the growth of the segment. Numerous medical devices including fit bits, optical heart rate monitors, pulse-oximeters, and blood glucose monitors feature these modules. The implementation of artificial intelligence (AI) across smart medical devices will also fuel the Europe system on module industry forecast.
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Germany SoM market share is poised for remarkable growth due to the continuous flow of investments by manufacturers. Rising at a 12.5% CAGR through the forecast timeframe, the regional industry is thriving on account of proactive investments by emtrion GmbH, Kontron, Phytec, and NXP Semiconductors among several other industry players for development of advanced products. For instance, Kontron introduced its new mini SoM device, SL I/MX8M, that utilizes Linux board and ensures minimum footprint, higher energy optimization, and improved performance, rendering it ideal for low-power home appliances.
Some other noteworthy manufacturers include EMAC, Toradex Systems, and Eurotech. They have been emphasizing on product innovation with a view to stay ahead of the curve in the Europe system on module industry.
Table of content:
Chapter 1 Methodology And Scope
1.1 Research Methodology
1.2 List of data sources
Chapter 2 Market Snapshot
2.1 Europe automotive lightweight materials market snapshot
Chapter 3 Europe Automotive Lightweight Materials Trends
3.1 Industry coverage
3.2 Industry size and forecast, 2016 – 2026
3.3 Value chain analysis
3.3.1 Company product snapshot
3.4 Innovation landscape
3.5 Regulatory norms & directives
3.6 Drivers & restraints
3.6.1 Market drivers
3.6.2 Market restraints
3.7 COVID-19 impact on industry
3.8 Industry analysis – Porter’s
3.9 Product growth mapping
3.10 Competitive benchmarking, 2019
3.10.1 Strategy dashboard
3.11 PESTLE analysis
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