PORTLAND, Ore., Oct. 8, 2020
- Rise in demand for single board computer components in aerospace and defense and increase in need for industrial automation drive the growth of the single board computer market
PORTLAND, Ore., Oct. 8, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Single Board Computer Market By Processor (ARM, X86, ATOM, and PowerPC) and End Use (Industrial Automation, Aerospace & Defense, Consumer Electronics, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global single board computer industry was estimated at $2.86 billion in 2019, and is anticipated to hit $3.80 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027.
Drivers, Restraints and Opportunities
Rise in demand for single board computer components in aerospace and defense and increase in need for industrial automation drive the growth of the single board computer market. On the other hand, complex integration process of advanced electronics devices curtails down the growth to some extent. However, miniaturization of electronic devices is expected to create lucrative opportunities for the key players in the industry.
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The X86 Segment to Dominate By 2027
Based on product type, the X86 segment accounted for nearly half of the global single board computer market revenue in 2019 and is expected to lead the trail by the end of 2027, owing to its large manufacturing capacity and compatibility with other applications. The ARM segment, on the other hand, would portray the fastest CAGR of 5.1% throughout the forecast period, due to increasing applications of single board computers in consumer electronics.
The Industrial Automation Segment to Maintain the Dominant Share
Based on end use, the industrial automation segment contributed to more than two-fifths of the global single board computer market share in 2019 and is anticipated to rule the roost till 2027. The same segment would also manifest the fastest CAGR of 4.9% from 2020 to 2027. This is due to the digital transformation of the manufacturing and the production processes in the major industries across the world.
North America Garnered the Major Share in 2019
Based on geography, North America garnered the major share in 2019, holding nearly two-fifths of the global single board computer market, due to increasing applications of the single board computers in the aerospace and defense sector. At the same time, the Asia-Pacific region would grow at the fastest CAGR of 5.8% during the study period, owing to the presence of large number of consumers in the province. Also, growing applications of industrial automations have propelled the growth.
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Key Players in the Industry
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