Embedded System Market SWOT Analysis of Key Players : Altera, Arm, Atmel, Infineon Technologies, Intel Corporation, Microchip Technology, Microsoft, NXP Semiconductors, Renesas Electronics, Samsung Electronics, STMicroelectronics, Texas Instruments

Embedded System Market size is likely to be valued USD 258.72 billion by 2023, as per a new research report by Global Market Insights, Inc. Mounting need mainly from application sectors such as healthcare as well as automotive is expected to drive demand. In addition, emergence of IoT is anticipated to fuel industry growth.

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Key manufacturers include Altera, Arm, Atmel Corporation, NXP acquires Freescale Semiconductor, Infineon Technologies, Intel Corporation, Microchip Technology Inc., Microsoft, NXP Semiconductors, Renesas Electronics, Samsung Electronics, STMicroelectronics and Texas Instruments.

Internet of Things (IoT) market is a network of physical objects implanted with sensors, software, connectivity and electronics in order to exchange data for the effective and efficient operation. It requires analysis embedded as well as data management systems to effectively utilize the data gathered for the optimal functioning of devices. However, security concerns are likely to pose challenge to the demand growth over the forecast period. It is essential to safeguard the embedded system from unauthorized software and other vulnerability problems such as theft and data privacy. In addition, continuous efforts are being made in order to tackle these concerns and securing the systems from thefts and data hackers.

Technology innovation in wireless communications, software and digital processing is expected to positively impact embedded system market size. Systems that effectively and efficiently drive the electronic contents within vehicles have also increased significantly in automotive sector. This assists safety systems on the highest priority by monitoring parameters such as tire inflation, antilock braking systems, remote keyless entry, antitheft and airbag systems. However, security risks related to the systems is anticipated to hinder the industry growth.

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Embedded hardware system market size was valued USD 154.82 billion in 2015 and is anticipated to observe significant gains, with USD 240.11 billion at a CAGR of 5.5% from 2016 to 2023. Technological innovation and advancement in emerging nations such as Russia, India, China, Brazil and Taiwan is likely to spur growth. Embedded software was valued at USD 10.46 billion in 2015, and is anticipated to attain USD 18.61 billion by 2023, at an estimated CAGR of over 7.3% over the forecast period.

Key insights from the report include:

• Global embedded system market size was valued USD 165.28 billion in 2015 and is anticipated to attain USD 258.72 billion by 2023 at 5.6% from 2016 to 2023.

• Automotive sector valued USD 34.64 billion in 2015 which is likely to attain USD 56.04 billion by 2023, growing at a CAGR of 6% from 2016 to 2023. Increasing acceptance of hybrid as well as electric vehicles in order to control emissions is likely to fuel the industry growth. Healthcare sector is likely to grow at a CAGR of 6.3% over the next few years. Rising need for portable medical devices in this application is predictable to boost the global growth.

• U.S. embedded system market share dominated the regional demand, accounting for over 30% of total revenue in 2015. Asia Pacific is anticipated to grow at a CAGR of 6% up to 2023. This can be attributed to the presence of fabrication plants in the region.

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Asia Pacific embedded system market size was valued over USD 46 billion in 2014 and is anticipated to reach USD 81 billion by 2023. This can be mainly attributed to easy availability of skilled professional in software development. In addition, presence of fabrication plants in the region has also lowers the manufacturing costs over the forecast period.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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