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By 2023, Embedded System Market in APAC Region Is Likely to Cross A Revenue of USD 81 billion | Key Players Are Infineon Technologies, Freescale Semiconductor, Atmel Corporation, Renesas Electronics, Samsung, STMicroelectronics, Texas Instruments.
Embedded System Market
Embedded system market is one of the top industries witnessing a plethora of opportunities in the evolving “connected” and “smart” era. Digitization has embarked its strong presence across all the industries worldwide, which in turn has generated a wide set of opportunities for the embedded system market players. According to Global Market Insights, Inc. Global embedded system market is estimated to witness a CAGR of 5.6% over the period of 2016-2023.
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With the rapid advancements in technology, the global demand for hi-tech equipment and devices has surged substantially, resulting in a huge adoption of embedded system across various industries such as Automotive, Consumer Electronics, Industrial, Healthcare, Telecommunication, and Military & Aerospace. Among these, automotive industry dominated the application landscape, accounting for over 22% of the global share in 2014. The growing trends in the automotive industry such as connected cars, electric and hybrid electric vehicles, smart vehicles, etc. will proliferate the embedded system market share in the automotive industry. Embedded system market in the automotive industry is likely to witness a CAGR of 5.5% over the period of 2016-2023.
Embedded system marketSS is a combination of computer software and hardware specifically designed or programmed to execute a particular function. It plays an important role in almost every electronic device. An MP3 player, cell phone, control menu on TV systems, are a few examples of day to day applications of this system. It is found wide acceptance in every sector including automobiles, Industrial machines, cameras, medical equipment, airplanes, household appliances, toys, vending machines, and many more.
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On account of the product trends, embedded software market is forecast to grow substantially over the coming years, owing to the rising trend of wireless technology coupled with a huge demand from automotive and consumer electronics sector. Embedded software market is likely to surpass USD 18 billion by 2023. Moreover, economic developments in emerging countries such as India, China, Russia, Taiwan, and Brazil will drive embedded hardware industry, with CAGR estimations of 5.5% over the period of 2016-2023.
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Embedded system market is quite consolidated with the top four players sharing 45% of the overall business space. Key industry participants include Infineon Technologies, Samsung, Freescale Semiconductor, STMicroelectronics, Texas Instruments, Atmel Corporation, and Microchip.
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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Global Market Insights, Inc.
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