The module will usually need to be mounted on a carrier board (or “baseboard”) which breaks the bus out to standard peripheral connectors. Some COMs also include peripheral connectors and/or can be used without a carrier.
Using a carrier board is a benefit in many cases, as it can implement special I/O interfaces, memory devices, connectors or form factors. Separating the design of the carrier board and COM makes design concepts more modular, if needed. A carrier tailored to a special application may involve high design overhead by itself. If the actual processor and main I/O controllers are located on a COM, it is much easier, for example, to upgrade a CPU component to the next generation, without having to redesign a very specialized carrier as well. This can save costs and shorten development times. On the other hand, this only works if the board-to-board connection between the COM and its carrier remains compatible between upgrades.