How big is the system on chip (SoC) market?

The global system on chip market size was estimated at USD 169.54 billion in 2023 and is expected to reach USD 181.58 billion in 2024.

What is the system on chip (SoC) market growth?

The global system on chip market is expected to grow at a compound annual growth rate of 8.5% from 2024 to 2030 to reach USD 295.49 billion by 2030.

Which segment accounted for the largest system on chip (SoC)market share?

The portable electronic device segment in the market, registered the largest share of over 23.7% in 2023, due to the high demand for the portable electronic devices, such as smartphones, tablets, and wearable technology which requires high-performance, energy-efficient processing solutions

Who are the key players in system on chip (SoC) market?

Some of the key players operating in the System on Chip market include Broadcom Inc., Intel Corporation, Mediatek Inc., Microchip Technology Inc., NXP Semiconductors NV, Qualcomm Incorporated, Samsung Electronics Co. Ltd, STMicroelectronics NV, Toshiba Corporation Taiwan Semiconductor Manufacturing Company Limited (TSMC), among others.

What are the factors driving the system on chip (SoC) market?

The proliferation of mobile devices is a major driver of the SoC market as smartphones, tablets, and wearable devices require compact, powerful chips that can handle multiple functions, such as processing, graphics, and connectivity, within a single, integrated package. This demand for smaller, faster, and more energy-efficient components pushes manufacturers to innovate continuously, leading to significant advancements in SoC technology which is further boosting the system of chip market.