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Embedded System Market To Have A Promising Future Ahead! | Altera, Arm, Atmel Corporation, NXP acquires Freescale Semiconductor, Infineon Technologies, Intel, Microchip Technology Inc., NXP Semiconductors, Renesas Electronics
Embedded System Market
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Following are the projected key trends:
1. Designing Secure Systems on Focus
2. Emergence of M2M Communication drives Demand for Embedded M2M Solutions
3. Smart devices and vehicles open up the application avenues
4. Growing Role of Electronic Control and Signaling in Railway Networks creates prospects
5. Advancement in Medical and Healthcare Boosts Market Opportunities
The key players covered in this study: -
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
The embedded system market is segmented into application as automotive, telecommunication, healthcare, industrial, military & aerospace, and consumer electronics. The automotive segment was valued at over USD 30 billion in 2015 and is expected to exceed USD 50 billion by 2023 owing to increasing adoption rate of electric and hybrid vehicles. The electronic contents in automotive assist in monitoring safety features such as tire inflation, remote keyless entry, airbag, antilock braking, and antitheft units. Healthcare sector is anticipated to grow at over 6% CAGR owing to rising demand in handheld and portable devices during the forecast timeframe.
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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 market share in the healthcare sector is projected to witness a CAGR of 6% over the period of 2016-2023.
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 is forecast to dominate the regional landscape, with revenue estimations of USD 84 billion by 2023. The growth can primarily be attributed to the growing trend of IOT across this region. US will be the major revenue pocket for the North America market, having had a 30% regional share in 2015. Asia Pacific embedded system market will also grow significantly over the coming timeframe, driven by the factors such as lower manufacturing costs, easy availability of software professionals, and huge presence of fabrication plants across this region. APAC embedded system market is likely to cross a revenue of USD 81 billion by 2023.
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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.
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