Single Board Computer market to register highest growth from defense & aerospace applications over 2016-2024
Single board computer market is projected to collect noticeable revenue due to shifting consumer trends toward wearable electronics, electric vehicles, and the Internet of things (IoT) devices and solutions. IoT incorporated with embedded systems undoubtedly helps perform operations in real-time. Single board computers, which are basically hardware components integrated with IoT, garner a huge demand from numerous end-user industries. According to Global Market Insights, Inc., “Single Board Computer market will record a CAGR of 12.5% over the period of 2016 to 2024.”
Single board computer industry has widespread application areas such as transportation, entertainment, industrial automation, medical, and aerospace & defense. Aerospace & defense application will exhibit a CAGR of more than 13% over the coming years of 2016 to 2024, owing to the requirement for improved performance and high-density communication in cost-restrained environment. Industrial automation is also another lucrative application segment that will register substantial gains over the next few years.
U.S. single board computer market size, by technology, 2013-2024 (USD Million)
VME technology is increasingly being deployed across the military & defense sector driven by its high reliability and efficiency. This will lead to VME-based SBC market registering an annual growth rate of more than 10% over the period of 2016 to 2024. xTCA, VPX, and cPCI are the other prominent technology segments of single board computer industry. cPCI-based single board computer market accounted for more than 25% of the market share in 2015 and will grow lucratively in the years ahead.
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Taking into account the end-use segment, single board computer industry comprises communication, research, data processing, and test & measurement. Test and measurement end-use segment will generate considerable revenue over 2016-2024, augmented by the ample availability of technologically advanced products.
System integration, aftersales, and customization are the key service segments of single board computer market. System integration dominated the service landscape by accounting for more than 45% of the industry share in 2015, owing to its widespread deployment across myriad professional sectors. Customized service reduces the total development time and associated costs, in response to which this segment will record a CAGR of more than 12% over the coming years of 2016 to 2024.Based on the processor type, single board computer industry is mainly composed of PowerPC, x86, ARM, and atom. X86 processor market is predicted to generate considerable revenue over the coming seven years, owing to the properties such as power saving capability and high processing speed. ARM (advanced RISC machines) processor accounted for 40% of the processor market share and will exhibit substantial growth rate over 2016-2024, which can be attributed to the notable characteristics such as multi-core processing, lower power consumption, and flexibility.
Considering the regional landscape, China single board computer market will grow at an annual growth rate of more than 18% over the period of 2016 to 2024, primarily driven by the surging need for industrial automation across this region. In addition, the availability of widespread manufacturing base will also boost the regional trends.
U.S. single board computer industry share will hold a significant share of the global revenue over the coming timeframe, driven by the escalating implementation of SBCs across this region. Increasing usage of SBCs for application sectors such as energy, medical, and transportation will also influence the industry growth noticeably.
To sustain their position in the business, market players are reducing product prices and developing a range of new, advanced products to attract a broader consumer base. Key players in single board computer market are Digi International, VersaLogic Corp., Olimex, American Portwell Technology, Inc., Advantech, Wandboard, UDOO, Adlink Technology Inc., Mercury Systems, NETBurner, Kontron, Radisys, and Eurotech Group.
Author Name :Sunil Hebbalkar