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SoC is a highly integrated chip that includes a CPU, memory, and other peripherals all on a single chip. SoCs are designed for high-performance applications with stringent power and requirement for space. While Microcontroller or MCU is a simpler, more specialized chip that combines a processor, memory, and peripherals, used for control-oriented tasks in embedded systems with relatively less power and processing requirements.

DSP (Digital Signal Processor) is a specialized processor designed for high-speed numerical processing. It is integrated in MCU to handle complex mathematical operations efficiently resulting in enhancement of MCU's ability to process audio, video, and other real-time data.

SoCs stand for "System on Chips." This term refers to highly integrated circuits that combine all the components of a computer into a single silicon chip.

SoCs are generally better for applications requiring high integration, low power consumption, and space efficiency. In comparison, FPGAs do offer flexibility but consume more power and space. However, FPGAs are great for applications requiring reconfigurability and customization.