Embedded Software Market to see 7% CAGR, Key Players: Intel, LG CNS, Microsoft, Mitsubishi, National Instruments, Renesas Electronics, STMicroelectronics, Texas Instruments, Toshiba, Mentor Graphics, Green Hills Software, HCL Technologies, IBM
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North America dominates the embedded software market with a share of more than 51% in 2017 due to the presence of key players in this region. Microsoft, Intel, and Microchip are some of the major industry leaders of the market in the U.S. Moreover, a rise in the number of startup companies offering innovative software solutions is also expected the augment the growth of the region over the forecast timeline. Canada is expected to witness the highest market growth with a CAGR of more than 7% between 2018 and 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & analysis:
2. Intel Corporation
5. Microchip Technology Inc.
6. Mitsubishi Corporation
9. Mentor Graphics
Embedded Software Market, By Operating System (OS)
o General Purpose Operating System (GPOS)
o Real Time Operating System (RTOS)
Embedded Software Market, By Application
o Consumer Electronics
o Media & Entertainment
o Military & Defense
The Asia Pacific embedded software market is expected to record a CAGR of more than 10% over the forecast period. In July 2018, Chinese chip manufacturer, Chengdu Haiguang IC Design Co., has started the development of the x86 processors named “Dhyana” that includes their operating system. This strategic move helped the Chinese manufacturers to reduce their dependence on the operating systems of the U.S. A surge in disposable incomes of developing countries including India, Japan, and South Korea will also augment the embedded software market.
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Embedded Software Market in automotive sector is expected to witness the highest CAGR of more than 11% over the forecast timeline due to a rise in the market prominence of embedded OS in the electric and hybrid electric vehicles. A rise in the demand for enhanced in-vehicle infotainment systems such as navigation systems, parking assistance, adaptive cruise control, and airbag system is expected to drive the market. The integration of these technologies into automobiles enables the companies to offer safety, security, and scalability to their end users. Further, the development of these technologies enables the manufacturers to stabilize the car in a critical situation and prevent the driver from steering out of control.
Embedded Software Market size is set to exceed USD 19 billion by 2024; according to a new research report by Global Market Insights, Inc. The embedded software market growth is attributed to the increasing adoption of smart devices in the consumer electronics and healthcare sector. The deployment of IoT technologies in smart and connected devices has enabled the end user to establish cross-device connectivity and implement smart features in operating systems.
The RTOS segment in embedded software market is projected to register a CAGR of more than 11% due to a surge in the demand for special-purpose hardware using real-time systems such as ThreadX, Windows CE, Fusion RTOS, LynxOS, and VxWorks. The RTOS-enabled software uses a round-robin scheduling process that reduces the hog in the CPU and performs an error-free process in real-time. Such systems offer mission-critical and safety-critical applications to various industry verticals such as military, healthcare, manufacturing, and the automotive sector.
Furthermore, such software supports multitasking and inter-task communication that helps the engineer to perform complex applications simultaneously. It also supports all the microcontrollers and microprocessors that include different memory sizes such as 8-bit, 16-bit, 32-bit, and 64-bit systems. In June 2018, Green Hills Software partnered with Paragon software to integrate its Integrity RTOS with Paragon’s file system link to support various file types into the system.
Browse key industry insights spread across 150 pages with 177 market data tables & 35 figures & charts from the report, “Embedded Software Market Size By Operating System (General Purpose Operating System (GPOS), Real Time Operating System (RTOS), By Function (Standalone System, Real Time System, Network System, Mobile System), By Application (Automotive, Consumer Electronics, Manufacturing, Retail, Media & Entertainment, Military & Defense, IT&Telecom), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
The RTOS segment is projected to witness the highest market growth with a CAGR of over 11%. An increase in the market penetration of development of special-purpose hardware integrated with real-time operating systems such as Fusion RTOS, Thread X, LynxOS, and VxWorks is anticipated to have a positive impact on the growth of the market. Further, the RTOS-enabled devices allow the business to perform inter-task communications and multitasking operations without human intervention.
An increase in the demand for IoT-enabled software development for embedded systems in the consumer electronics and healthcare industry is expected to augment the growth of the market. A rise in the use of smart wearables and web-enabled TVs to offer enhanced technological convergence in a single device is also anticipated to fuel the market. Moreover, the escalating cost of development of complex consumer electronics has enabled the vendors to develop systems to shift over-development of systems with its own operating systems. The manufacturing of these devices enables the enterprises to reduce the development costs and maximize the functionality & performance of electronic products.
Currently, numerous companies have invested in the embedded software market focusing on the upcoming lucrative business opportunities. In order to augment their position in the industry, leading players in the embedded software industry are acquiring smaller companies. For instance, a few days before, L&T Technology Services has revealed its plan to acquire the Bengaluru headquartered Graphene Semiconductor Services for INR 93 crore. Through this acquisition, L&T is looking forward to strengthening its portfolio in chip design and embedded software services. In addition to this, L&T also plans to extend its regional reach across Malaysia, Taiwan, and Singapore by purchasing Graphene Semiconductor Services. Such business strategies implemented by the players are likely to strengthen their stance in the embedded software industry.
The key players operating in the embedded software market are ENEA, Green Hills Software, IBM, Intel, Microsoft, Advantech, Microchip, Mitsubishi, STMicroelectronics, Express Logic, LG CNS, Mentor Graphics, National Instruments, Segger, Texas, Renesas, HCL, Qualcomm, Toshiba, Via, Dexcel, Graphene, and Qualitat systems.
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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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