Sales of SOC Test Platform in Consumer Electronics Industry to Increase by 12% by 2032
The latest study by Fact.MR conducted on the SOC test platform market offers comprehensive insights into key factors driving growth. It also studies the market across various segments in terms of solution, platform type, application, type, and end-use across six major regions
The global SOC test platform market is forecast to reach US$ 4.5 Bn in 2022. The overall sales in the market are estimated to surpass US$ 13.1 Bn, registering a CAGR of 11.3% CAGR between 2022 and 2032.
With increasing demand for SOC test platform in wireless devices such as smartphones, cameras, and tablets, the market is estimated to witness staggering growth over the upcoming decade. On account of this, the SOC test platforms are anticipated to contribute nearly 65% of overall sales in global automated test equipment market.
Growing adoption of system-on-chip (SOC) in smartphones and other electronic devices to perform multiple task is anticipated to boost the demand in the market. SOCs also helps in reducing the size and weight of electronic systems. Hence, adoption of these chips is increasing in laptops and desktop computers.
In addition to this, rising inclination towards luxury homes and a comfortable life is propelling the advancements in home connectivity technologies. This, in turn, is likely to create remunerative opportunities for the growth in the market.
Growing penetration of advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), and machine learning in electronic home appliances will fuel the growth in the SoC test platform market.
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With the launch of Industry 4.0, the intelligent manufacturing techniques has gained traction in real-time surveillance, automation, and network & real-time data analysis. Hence, demand for IoT-enabled ecosystem and smart manufacturing across several industries is expected to spur the demand for SoC test platforms.
Adoption of electronic digital equipment for remote monitoring and data analytics services by the manufacturing industries is increasing. This will further promote the growth in the SOC test platforms market.
Subsequently, growing investments for the autonomous vehicle development, especially in China, will bode well for the market. As per Fact.MR, sales of SOC test platforms are estimated to reach US$ 2.4 Bn by the end of 2032.
|Base Year Value (2021A)||US$ 3.9 Bn|
|Estimated Year Value (2022E)||US$ 4.5 Bn|
|Projected Year Value (2032F)||US$ 13.1 Bn|
|Global Growth Rate (2022-2032)||CAGR 11.3%|
- China SoC test platform market is poised to expand at a CAGR of 14% during the forecast period (2022-2032).
- India SoC test platform market is forecast to reach US$ 36 Mn in 2022 owing to the development of 5G network in the country.
- Based on end-use industry, the IT and telecommunication segment is projected to surpass US$ 1.4 Bn in 2022.
- In terms of platform type, the technology-driven platforms segment are projected to hold 3/4th of the overall market share by 2032.
- By end-use industry, automotive segment is anticipated to hold 14% of demand share in the market.
- Growing adoption of smart devices and appliances is predicted to drive demand for SOC test platform in consumer electronics segment.
- Rising demand for autonomous vehicles in countries such as India, China, the U.S., and others is likely to surge the sales of SOC test platform in automotive industry.
According to Fact.MR market analysis, the top 5 manufacturers of the SOC test platform market are expected to account for 80% of the overall market share.
Leading 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 meet the needs and challenges associated with component placement in the engine environment.
· In 2020, Arrays GmbH Xilinx received US$ 14.1 Mn of goodwill and US$ 18.2 Mn of acquisition-related intangibles post acquisition. This acquisition is part of its wireless strategy to build end-to-end radio reference designs for popularizing its RFSoC technology.
Key Companies Profiled by Fact.MR
- Advantest Corporation
- Cohu Inc.
- CHROMA ATE Inc.
- Teradyne Inc.
More valuable Insights on SOC Test Platform Market
Fact.MR, in its report, offers unbiased analysis on the global SOC test platform market providing key trends and opportunities for the forecast period of 2022 to 2032. This survey also reveals the growth of technology in the SOC test platform market with detailed segmentation as follows:
By Platform Type:
- Technology-driven Platforms
- Application-driven 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 Telecommunication
- Computing Device Manufacturing
- North America
- Latin America
- East Asia
- South Asia & Oceania (SAO)
- Middle East & Africa (MEA)
Key Questions Covered in SOC Test Platform Market Report
- What was the market size of the global SOC test platform market in 2021?
- At what rate will the global SOC test platform market grow during 2022-2032?
- Which are the key trends bolstering the growth of the SOC test platform market?
- What is the expected revenue share of SOC test platform market in 2022?
- Which are the leading players dominating the global SOC test platform market?
- What was growth rate of the global SOC test platform market during 2017-2021?
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