SOC Testing Platform Market Expected to Surpass US$13.1 Billion Amid Growing Demand for Smart Electronic Devices, Fact.MR Report
NEW YORK, March 9, 2022 /PRNewswire/ — The global SOC test platform market is expected to reach US$4.5 billion in 2022. Overall market sales are estimated to exceed US$13.1 billionregistering a CAGR of 11.3% CAGR between 2022 and 2032.
With the increase of request for SOC test platform in wireless devices such as smartphones, cameras, and tablets, the market is expected to witness tremendous growth over the next decade. For this reason, SOC test platforms are expected to contribute nearly 65% of overall sales in the global automated test equipment market.
The increasing adoption of System on Chip (SOC) in smartphones and other electronic devices to multitask is expected to drive the demand in the market. SOCs also help reduce the size and weight of electronic systems. Hence, the adoption of these chips is increasing in laptops and desktops.
In addition to this, the growing inclination for luxury homes and comfortable living is propelling advancements in home connectivity technologies. This, in turn, is likely to create remunerative opportunities for market growth.
Growing penetration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning in home appliances will fuel the growth of the SoC test platform market.
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With the launch of Industry 4.0, smart manufacturing techniques have gained ground in real-time monitoring, automation, and network and real-time data analysis. Hence, the demand for IoT-enabled ecosystems and smart manufacturing across multiple industries is expected to drive the demand for SoC test platforms.
The adoption of electronic digital equipment for remote monitoring and data analysis services by manufacturing industries is increasing. This will further promote the growth of the SOC test platform market.
Subsequently, increasing investments for the development of autonomous vehicles, in particular in China, will bode well for the market. According to Fact.MR, sales of SOC test platforms are expected to reach US$2.4 billion end of 2032.
Base year value (2021A)
Estimated annual value (2022E)
Projected year value (2032F)
World growth rate (2022-2032)
Key points to remember:
- China SoC test platform market is poised to grow at a CAGR of 14% during the forecast period (2022-2032).
- Indian SoC test platform market is expected to reach US$36 million in 2022 driven by the development of the 5G network in the countryside.
- Based on end-use industry, the information and telecommunications technology segment is expected to exceed $1.4 billion in 2022.
- In terms of platform type, the technology-driven platform segment is expected to hold 3/4and in overall market share by 2032.
- By end-use industry, the automotive segment is expected to hold 14% of the market demand share.
- Rising adoption of smart devices and devices is expected to drive the demand for SOC test platform in consumer electronics segment.
- The growing demand for autonomous vehicles in countries such as India, Chinathe United States and others are likely to increase the sales of the SOC test platform in the automotive industry.
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According to Fact.MR’s market analysis, the top 5 manufacturers in the SOC test platform market are expected to account for 80% of the overall market share.
The major players operating in the global SOC test platform market are focusing on upgrading their product portfolio and manufacturing processes to expand their consumer base.
Meanwhile, some of the players are focusing on developing innovative product designs to address the needs and challenges associated with component placement in the engine environment.
In 2020, Arrays GmbH Xilinx received US$14.1 million of good will and US$18.2 million acquisition-related intangible assets after the acquisition. This acquisition is part of its wireless strategy to create end-to-end radio reference designs to popularize its RFSoC technology.
Top Companies Featured by Fact.MR
- Advantest Corporation
- Cohu inc.
- CHROMA ATE inc.
- Teradyne Inc.
More Valuable Insights into the SOC Testing Platform Market
Fact.MR in its report offers an unbiased analysis of the Global SOC Testing Platforms Market, providing key trends and opportunities for the forecast period 2022 to 2032. This survey also reveals the growth of the technology in the SOC Test Platform Market with detailed segmentation as follows:
By type of platform:
- Technology-driven platforms
- Application-centric platforms
- Digital SoC test platforms
- Analog SoC Test Platforms
- Mixed Signal SoC Test Platforms
- Embedded systems
- mobile computing
- Display systems
By end-use industry:
- Consumer electronics
- IT and Telecommunications
- Manufacture of computer devices
- North America
- Latin America
- East Asia
- South Asia & Oceania (SAO)
- Middle East & Africa (SOUL)
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Key Questions Covered in the SOC Testing Platform Market Report
- What was the size of the global SOC testing platform market in 2021?
- How fast will the global SOC test platform market grow in 2022-2032?
- What are the key trends supporting the growth of the SOC test platform market?
- What is the expected revenue share of the SOC Testing Platform market in 2022?
- Who are the major players dominating the global SOC test platform market?
- What was the growth rate of the global SOC test platform market during the period 2017-2021?
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