Single Board Computer Market Growth Predicted at 14% Through 2027: GMI
Europe recorded over 20% of the single board computer market share in 2020 and is pegged to strike a CAGR of 11% up to 2027.
SELBYVILLE, Del. - August 10, 2021 - (Newswire.com)
The single board computer market size is anticipated to record a valuation of USD 2.5 billion by 2027, according to the most recent study by Global Market Insights Inc. Increasing deployment of IoT in smart home appliances and the higher incursion of connected solutions in industrial automation will influence the single board computer industry forecast. The surge in the number of government initiatives, specifically in South Korea, has ramped up the deployment of these technologies for smart city development. The significant advancements in the gaming sector and mount in the global number of smart factories will further fuel the industry growth.
Single board computers (SBC) are mainly devices powered by various consoles, as well as virtual reality hardware, to render high flexibility to design manufacturers. Given their smaller footprint and high energy efficiencies, they mark widespread presence across several automated machines, human-machine interfaces, and industrial robots.
Below mentioned are a few trends that will play a crucial role in transforming single board computer market forecast:
Innovations in atom x86- x64 processors
The single board computer market size from atom x86- x64 processors will reach a significant value through the analysis time considering their increasing adoption in multiple embedded applications to offer enhanced power management capabilities and low power. These processors are used in medical devices, robotics, factory automation, and military and aerospace applications.
Due to this, numerous single board computer market players are coming up with new product innovations and R&D activities. For instance, IBASE Technology, in April 2021, introduced IB836, its new single board computer powered with the Intel Atom x6000 processor to amplify the CPU performance by 50% whilst offering uses in automation, transport, retail, and medical.
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Thriving demand across the medical sector
Medical applications held over 15% of the overall single board computer market share in 2020 and could observe a CAGR of 14% up to 2027 due to the higher deployment of AI and IoT technologies. Apart from offering optimized and real-time results with higher accuracy in medical devices, SBC's provide longevity in system designing and reliability. On account of this trend, they are finding extensive use in x-ray machines, ultrasound machines, MRI, infusion pumps, medical robots, and imaging applications.
The rise in government initiatives and funding activities has also ramped up the development of medical facilities, given the present COVID-19 pandemic. For instance, The U.S. Department of Health and Human Services (HHS), in June 2021, entered a public-private partnership to speed up the commercialization and introduction of novel technologies and medical products amidst the crisis.
In another instance, in April 2020, an ECE team led by Professor Willy Wong programmed a single board computer in order to remotely monitor patients whilst protecting the health care workers during the COVID-19 crisis.
Accelerated funding activities in Europe
Europe recorded over 20% of the single board computer market share in 2020 and is pegged to strike a CAGR of 11% up to 2027 driven by the mount in funding activities and the rising innovations in the aerospace and defense sectors. To state an instance, the U.K. Ministry of Defense, in March 2021, has invested close to USD 1,000 billion in equipment over the next four years. Besides, the product is increasingly adopted in regional avionics and defense OEMs to offer signal processing, high-performance computing, as well as command and control.
Competitive business strategies
Providers of various single board computer types are actively indulging in novel product initiatives and R&D activities to gain competitive advantages. For instance, Garz & Fricke, in March 2020, launched TANARO, its novel single board computer for industrial image processing applications.
Recent advances in wireless technologies and automated security systems have led to the robust need for managing data processing in real-time applications. This has given rise to numerous government initiatives along with funding activities for the rapid IoT developments. For instance, the Government of Brazil, in June 2019, signed a National IoT Plan with Brazilian Development Bank (BNDES) to speed up the adoption and incorporation of IoT solutions across the manufacturing, smart city, healthcare, and agriculture sectors.
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Original Source: Single Board Computer Market: Top 4 Trends Driving the Global Industry Revenue by 2027: Global Market Insights Inc.
