Embedded System Market in North America Region is Expected to Grow at CAGR of 5.7% By 2024
Internet of things, precisely the most buzzing topic worldwide, has shaken the entire global industry landscape. 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 industry players.
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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 industry share in the automotive industry. Embedded system market size in the automotive industry is likely to witness a CAGR of 5.5% over the period of 2016-2023.
Embedded system market for software sector 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 size, with CAGR estimations of 5.5% over the period of 2016-2023.
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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 2016-2024.
Some Point from Table of Contents:
Chapter 4. Embedded System Market Application Insights
4.1. Global market share by application, 2014 & 2023
4.2.1. Global market estimates by region, 2012 - 2023
4.3. Consumer Electronics
4.3.1. Global market estimates by region, 2012 - 2023
4.4.1. Global market estimates by region, 2012 - 2023
4.5.1. Global market estimates by region, 2012 - 2023
4.6. Military & Defense
4.6.1. Global market estimates by region, 2012 - 2023
4.7.1. Global market estimates by region, 2012 - 2023
4.8.1. Global market estimates by region, 2012 - 2023
Chapter 5. Embedded System Market Product Insights
5.1. Global market share by product, 2014 & 2023
5.2. Embedded hardware
5.2.1. Global market estimates by region, 2012 - 2023
5.3. Embedded software
5.3.1. Global market estimates by region, 2012 – 2023
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