System on Module Market Trends

Global System on Module Market size was valued at USD 1.15 billion in 2023 and is poised to grow from USD 1.32 billion in 2024 to USD 4.05 billion by 2032, growing at a CAGR of 15.0% during the forecast period (2025-2032).

Leading market players in the System on Module (SoM) industry are heavily investing in research and development (R&D) to expand their product portfolios, which is expected to drive further growth in the market. These companies are also undertaking various strategic initiatives to enhance their global presence, such as introducing new products, entering into contractual agreements, pursuing mergers and acquisitions, increasing investments, and collaborating with other organizations. To remain competitive in this dynamic and growing market, competitors in the SoM industry must focus on providing cost-effective solutions that meet the evolving demands of customers. 'Kontron AG (Austria) ', 'u-blox Holding AG (Switzerland) ', 'Advantech Co., Ltd. (Taiwan) ', 'Congatec AG (Germany) ', 'Axiomtek Co., Ltd. (Taiwan) ', 'Eurotech S.p.A. (Italy) ', 'SECO S.p.A. (Italy) ', 'Aaeon Technology Inc. (Taiwan) ', 'Artesyn Embedded Technologies (USA) ', 'Radisys Corporation (USA) ', 'CompuLab Ltd. (Israel) ', 'Phytec Messtechnik GmbH (Germany) ', 'Toradex AG (Switzerland) ', 'Variscite Ltd. (Israel) ', 'Emcraft Systems (USA) ', 'Critical Link LLC (USA) ', 'Technexion Ltd. (Taiwan) ', 'SolidRun Ltd. (Israel) ', 'Microchip Technology Inc. (USA) ', 'NXP Semiconductors N.V. (Netherlands)'

The rapid growth of the Internet of Things (IoT) has been a major driver for the SoM market. The need for connected devices and smart solutions across various industries has led to the increased demand for SoM, which provides a compact and integrated platform for IoT applications.

Growing adoption of Internet of Things (IoT): The increasing implementation of IoT across various industries is driving the demand for systems on modules. These modules provide a compact and integrated solution for IoT devices, enabling seamless connectivity and data processing. There is a surge in the demand for embedded devices across industries such as healthcare, automotive, industrial automation, and consumer electronics. System on modules offer a cost-effective and efficient solution for developing embedded systems, fueling their market growth.

The Asia-Pacific region is experiencing significant growth in the SoM market. Factors such as the rapid adoption of advanced technologies, increasing investments in IoT, rising demand for embedded devices in various industries, and the presence of major semiconductor manufacturers in countries like China, South Korea, and Japan contribute to the growth in this region. The expanding manufacturing and automotive sectors, as well as the emergence of smart cities, further boost the demand for SoM solutions in Asia-Pacific.