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Why Embedded System Market are Booming So Rapidly? Industry in-Depth Analysis with Growing Trends || ARM, Atmel Corporation, Broadcom, Cypress Semiconductor Corporation, Fujitsu, Infineon Technologies, Intel Corporation, Lattice Semiconductor, Microchip T
Embedded system market has emerged as one of the most profitable industry verticals in recent years. The market is anticipated to experience remunerative growth trends in the forthcoming timeframe due to its applications across numerous fields such as automotive, telecommunication, healthcare, industrial, consumer electronics, and aerospace & defense among others. Embedded systems that provide real-time functioning have also been some of the most prominent factors that have helped augment the market gain significant traction across a number of industries.Increasing sales of electric & hybrid vehicles in emerging economies in order to control emission rates are also fostering the demand for embedded systems across the globe. According to estimates, embedded system market is expected to cross USD 160 billion by the year 2026.Application of embedded systems in healthcare sector is also stimulating the industry outlook. Embedded systems are used in healthcare in several imaging systems such as MRI and CT scan.
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It is also used to monitor vital signs and to amplify the sound in electronic stethoscopes. Additionally, the components enable clinicians and doctors to monitor the health of the patient remotely which further allows for quick decision-making via telemedicine. Rising adoption of embedded systems in biomedical sensors such as pacemakers, CPAP machines and glucose monitors are facilitating the business expansion.
On the geographical front, Europe embedded system market is predicted to witness massive growth through 2026. The region is likely to register a healthy CAGR of 5% throughout the forthcoming timeframe. Germany is likely to lead market share in the region.
Considering the geographical landscape, estimates claim that Europe embedded system market will witness a growth rate of 5% during the period of 2020-2026. Increasing number of intensive care residents have impelled the demand for telemedicine in Germany. This factor along with rising adoption of advanced technologies in vehicles are facilitating the business scenario in Europe.
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The prominent manufacturers, developers and suppliers of embedded systems are Microsoft Corp., NXP Semiconductors, Texas Instrument and Atmel Corporation, among many others. These market participants are concentrating on mergers and acquisitions in order to increase their current partner network and to aim for new product launches.
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