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Embedded System Market in Hardware Product Segment Will Grow At A CAGR of Over 5.5% by 2023 | Leading Players are Altera, Arm, Atmel, Infineon Technologies, Intel, Microchip Technology Inc., Microsoft, NXP Semiconductors, Renesas Electronics, STMicroelect

Embedded System Market

Embedded System Market

The report projects the Embedded System Market to witness burgeoning growth and surpass US$258.72 billion by 2023. Smart grid initiatives, rising investments in automation technologies and persistent growth in consumer electronic devices segment is likely to drive the demand.

Internet of Things (IoT) is an emerging technology which consists of various devices such as sensors, connectivity, software, and electronics for effective communication within the network. IoT devices adoption will grow exponentially over the years. Compliance of data communication standards improves interoperability of the unit. Electronic setups and data management tools are employed to enable IoT further empowering the embedded system market growth.

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The need for high performance of electronic units has resulted in development of multicore processors wherein the advanced technology increases the speed of equipment functionality. It consumes more power, thereby dissipating thermal energy. Wireless connectivity enhances the functioning of electronic and mechanical units. Innovations in electronic units providing robust solutions will steadily boost the embedded system industry.

The major manufacturers covered in this report: -

1. Altera
2. Arm
3. Atmel Corporation
4. NXP acquires Freescale Semiconductor
5. Infineon Technologies
6. Intel Corporation
7. Microchip Technology Inc.
8. Microsoft
9. NXP Semiconductors
10. Renesas Electronics
11. Samsung Electronics
12. STMicroelectronics
13. Texas Instruments

Healthcare is likely to be the second largest application area for the embedded system market. The growing population and increasing number of diseases have imposed a burden on the global healthcare expenditure. Healthcare sector, over the past few years, has witnessed rapid technology adoption, and the trend is likely to continue, driven by the escalating demand for affordable and advanced medical devices along with the rising healthcare costs. Embedded system industry share in the healthcare sector is projected to witness a CAGR of 6% over the period of 2016-2023.

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Hardware holds major industry share and is predicted to grow at a CAGR of over 5.5% over the forecast timeline. Software segment is anticipated to be valued at over USD 15 billion by 2023. Software includes middleware, tool and operating system. Adoption of Java in smart devices controls proximity communication and image recognition technology will spur the embedded system market.

North America embedded system market is projected to be worth 84 billion at a growing CAGR of 5.7% in the near future. Europe is anticipated to pick up the pace during the projected period and surpass USD 62 billion over the predicted time frame. Asia Pacific market is likely to register USD 81 billion by 2023 owing to the largely available skillful professionals in software development.

Key participants of the moderately competitive market include Renesas Electronics, Freescale Semiconductor, Microchip, Infineon Technologies, Atmel Corporation, Samsung, STMicroelectronics and Texas Instruments.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/embedded-system-market

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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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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