Embedded Systems Market
According to Market Research Future (MRFR), the global embedded systems market is projected to reach USD 291.25 billion, with a CAGR of 5.8% from 2022 to 2030 (forecast period). The report explains the effect of the novel COVID-19 pandemic on the global embedded systems market and provides a thorough analysis of the expected fluctuations in demand during the forecast period.
Embedded systems are described as a combination of hardware and software integrated with the program or are designed to perform functions within systems or devices. Technological advancements and a reduction in the cost of semiconductors are factors that contribute to the growth of the market. Embedded systems assist, control, or monitor operations related to equipment, devices, and machinery. These systems are developed to perform the task within a shorter amount of time, resulting in the improved overall performance of the system.
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Market Dynamics
The growing demand for smartphones, laptops, desktops, communications systems, and others around the globe is one of the key factors contributing to the growth of the market for embedded systems. As per GSMA, there were 5.1 billion new mobile subscribers in 2018, and this figure is anticipated to reach 5.8 billion by 2025, rising at a CAGR of 1.9% during the 2018-2025 forecast period. Furthermore, the commercialization of 5G is also estimated to promote the growth of the market. The varying prices of semiconductors are, however, a factor that hinders the development of the market.
Key Players
MRFR recognizes the prominent players in the global embedded systems market as Atmel Corporation (US), Intel Corporation (US), Texas Instruments (US), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Microsoft Corporation (US), Samsung Electronics Corporation (South Korea), Renesas Electronics Corporation (Japan), Analog Devices Inc.(US), Kontron AG (Germany), Advantech Co., Ltd. (Taiwan), ARM Limited (UK), Fujitsu Limited (Japan), Microchip Technology Inc. (US), Xilinx, Inc. (US), STMicroelectronics (Switzerland), among others.
Market Segmentation
The global market for embedded systems has been segmented based on type microcontroller performance, functionality, and application.
By type, the global embedded systems market has been segmented into hardware and software.
By microcontroller performance, the global embedded systems market has been segmented into small-scale embedded systems, medium-scale embedded systems, and large-scale embedded systems.
By functionality, the global embedded systems market has been segmented into stand-alone embedded systems, real-time embedded systems, mobile embedded systems, and networked embedded systems.
By application, the global embedded systems market has been segmented into automotive, telecommunication, healthcare, industrial, consumer electronics, military aerospace, and others.
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Regional Analysis
By region, the global embedded systems market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America held the largest market share in 2018 due to high investments made by companies in the development of new technologies. Rapid urbanization and demand for smart appliances and the presence of large-scale industries in the region are among the vital factors driving the market in the region. In addition, the presence of different companies, such as Atmel Corporation, Intel Corporation, Texas Instruments, and others, contribute to the market's growth by providing different systems to different industries to carry out the tasks associated with their applications.
The region has been segmented based on countries such as the United States, Canada, and Mexico. The US has a significant market share in the region due to the presence of advanced technology and the increasing development and production of various IoT devices. In addition, the rapid adoption of smart homes, smart kitchens, connected cars, and others in the country is also impelling the growth of the market. Canada is the fastest-growing country in the region due to increasing investment by manufacturing companies in developing new devices and systems.
