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Global System-on-Chip (SoC) Test Equipment Market to Grow by USD 58.84 Billion during 2019-2023| Technavio

LONDON--(BUSINESS WIRE)--May 30, 2019--

Technavio’s latest market research report on the global system-on-chip (SOC) test equipment market predicts the market to witness a CAGR of about 9% during the forecast period. This research report segments the market by application (consumer electronics; IT and telecommunication; automotive; and others) and geography (APAC, Americas, and EMEA).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190530005040/en/

Technavio has published a new market research report on the global SoC test equipment market from 2019-2023. (Graphic: Business Wire)

Advent of autonomous vehicles to gain popularity

The advent of autonomous vehicles is likely to foster the growth of SoC test equipment market during the next few years. Global automotive industry is anticipating large-scale investments in the development of autonomous vehicles. Autonomous vehicles deploy many sensors which send signals to a computing platform built on SoCs. Therefore, there will be a rise in demand for SoC from autonomous vehicles. This is encouraging several market players to introduce powerful and complex SoCs. Thus, with the rising development of SoCs for autonomous vehicles, the global system-on-chip (SOC) test equipment market will witness a surge over the next few years.

Consumer electronics application segment to garner the highest share

The consumer electronics segment uses SoC test equipment to check several consumer electronic products including smartphones, smartwatches, tablets, and smart home appliances. The market share of this segment is quite high as consumer electronics are sold in significantly large numbers. SoCs used in consumer electronics not only reduce power consumption but also increase run time on a single charge. In addition, these chips help in miniaturization of consumer products. Therefore, with the rise in adoption of SoC in consumer electronics, the demand for SoC test equipment will increase in the forthcoming years.

“Increasing penetration of smart technologies coupled with the growing trend of smart homes will propel the demand for consumer electronics during the forecast period. This rising adoption of innovative technologies will create considerable growth opportunities for SoC test equipment manufacturersleading to significant market growth over the forecast period,” says a senior research analyst at Technavio

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System-on-chip (SOC) test equipment to witness fastest adoption in the APAC region.

APAC will witness the fastest SoC test equipment market growth owing to several factors including the rise in demand for mobile communication devices and growing investments in the telecommunication network infrastructure. In addition, APAC has significant growth potential with respect to implementation of 4G and 5G technologies in emerging economies including Malaysia, Indonesia, and India. Therefore, the increasing focus on improving telecommunication network infrastructure in the region will further accelerate the demand for SoC used in communication equipment and base stations. This, in turn, will fuel the demand for SoC test equipment in the APAC region in the upcoming years.

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in theglobal system-on-chip (SoC) test equipment market analysisinclude:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. It provides detailed market research reports that provide clients with actionable insights to help them identify market opportunities and design effective strategies to optimize their market position.

With over 500 specialized analysts, Technavio boasts of an extensive report library comprising of over 10,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than a hundred Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets. Technavio helps companies to assess their competitive position within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com:https://www.businesswire.com/news/home/20190530005040/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS DATA MANAGEMENT ELECTRONIC DESIGN AUTOMATION HARDWARE INTERNET NETWORKS NANOTECHNOLOGY OTHER TECHNOLOGY MOBILE/WIRELESS MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 05/30/2019 10:05 AM/DISC: 05/30/2019 10:05 AM

http://www.businesswire.com/news/home/20190530005040/en

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