The global SOC test platform market is expected to reach $4.5 billion by 2022. Between 2022 and 2032, the market’s total sales are anticipated to surpass US$ 13.1 billion, showing a CAGR of 11.3%.
The demand for SOC test platforms in wireless devices like smartphones, cameras, and tablets is expected to expand significantly during the next ten years. As a result, it is expected that the SOC test platforms will account for close to 65% of the market’s entire sales of automated test equipment.
The market is expected to see increased demand as system-on-chip (SOC) technology is increasingly used in smartphones and other electronic devices to execute numerous tasks. SOCs also aid in making electronic systems smaller and lighter. As a result, these chips are being used more frequently on laptops and desktop computers.
Additionally, a growing preference for luxurious living and a pleasant lifestyle is fueling the development of home connectivity technology. This will certainly result in lucrative chances for the market’s expansion.
The market for SoC test platforms will expand as advanced technologies like artificial intelligence (AI), the Internet of Things (IoT), and machine learning become more prevalent in electronic home appliances.
Since the introduction of Industry 4.0, real-time monitoring, automation, and network & real-time data analysis has become more popular intelligent manufacturing approaches. Consequently, it is anticipated that demand for IoT-enabled ecosystems and smart manufacturing across several industries would increase demand for SoC test platforms.
The manufacturing industries are increasingly utilizing electronic digital technology for remote monitoring and data analytics services. This will help the market for SOC test platforms grow even further.
Consequently, increasing expenditures on the development of autonomous vehicles, particularly in China, will be positive for the market. By the end of 2032, sales of SOC test platforms are anticipated to reach US$ 2.4 Bn, according to Fact. MR.
- The market for SoC test platforms in China is anticipated to grow at a CAGR of 14% during the anticipated time frame (2022-2032).
- India’s market for SoC test platforms is anticipated to grow to US$ 36 million by 2022 as a result of the country’s 5G network’s growth.
- The IT and telecommunications segment is anticipated to surpass US$ 1.4 Bn in 2022 based on end-use industries.
- By 2032, it is anticipated that the technology-driven platforms segment will account for 3/4 of the market.
- The automobile category is estimated to account for 14% of market demand by the end-use industry.
The top 5 manufacturers of SOC test platforms are anticipated to have 80% of the total market share, according to a Fact.MR industry analysis.
Leading companies in the worldwide SOC test platform market are improving their product lines and production techniques to attract more customers.
Some of the players, meantime, are concentrating on creating novel product designs to address the requirements and difficulties related to component placement in the engine environment.
- Arrays GmbH Xilinx earned goodwill at US$ 14.1 million and acquisition-related intangibles worth US$ 18.2 million in 2020. This purchase is a component of its wireless plan to develop complete radio reference designs for marketing its RFSoC technology.
Key Companies Profiled: Advantest Corporation, Cohu Inc., CHROMA ATE Inc., Teradyne Inc., Xilinx