Press release
Embedded Systems Market is expected to reach US$254.19 billion by the end of 2024
Embedded system is a computer system, used within in large mechanical and electrical systems to solve real time computing constraints. It is integrated within the hardware of the electric or mechanical parts. These systems provide better adaptability, reliability, accuracy, power and smaller size. Embedded systems are employed in variety of industry verticals such as electronics, mobile communication, railways, automobiles, healthcare and aeronautics tom fulfill specialized purposes.
The Embedded Systems market is expected to be driven by increasing adoption in automobiles, wearable devices, smart appliances in smart homes, use of multi-core processor technology in military applications and burgeoning demand in healthcare equipments. Moreover, innovation in technology coupled with smart grid initiatives likely to fuel of the Embedded systems market. However, the market is constrained with production of embedded systems, which requires set of complications arise on real time embedded systems implementations and theft and data privacy concerns.
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The revenue generated in the global market for embedded systems is, as a result, expected to progress at a strong CAGR of 6.1% from 2017 to 2024. This market is expected to reach US$254.19 billion by the end of 2024.
GlobalEmbedded Systems Market: Segmentation
Embedded system market, by Functionality
Stand alone embedded systems
Real time embedded systems
Networked embedded systems
Mobile embedded systems
Embedded system market, by Microcontroller
Small scale embedded systems
Medium scale embedded systems
Large scale embedded systems
Embedded system market, by Types
Embedded Hardware
Embedded Software
Embedded system market, by Application
Automotive
Telecommunication
Healthcare
Industrial
Consumer electronics
Aerospace and defense
Others
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Regional Outlook
The major chunk of total revenue in the embedded systems market is expected to come from North America. The region is has consistently remained top consumer of embedded systems and is likely to show high demand in the region.
Asia Pacific is expected to show meteoric rise in demand for the embedded systems in the coming years. The region comprises of large number of industries that are rapidly evolving will require embedded systems to streamline their processes. The availability of skilled professionals in software development and presence of fabrication plants in the regions will further augment the growth of the embedded systems market.
Competitive Scenario
The companies operating in the Embedded Systems Market are Intel Corporation (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), Microchip Technology Incorporated (US), STMicroelectronics N.V. (Switzerland), Qualcomm Technologies Incorporated (US), Cypress Semiconductor Corporation (US), Analog Devices Inc. (US), Broadcom Limited (US), Fujitsu Limited (Japan), NXP Semiconductors N.V. (Netherlands), and Toshiba Corporation (Japan).
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