Embedded software and tools market was valued at US$ 18,335.3 Mn and is estimated to reach US$ 29,103.0 Mn by 2029

Embedded software and associated tools are gaining high levels of traction as these machines control and run the operations of the embedded systems to a considerably satisfying level. The industry of embedded software and tools is growing steadily owing to the rise in the demand, surged awareness, as well as increasing application of these tools and software solutions in high-end sectors.
The major driving factors of the global embedded software and tools market include an increase in the end user inclination, rise in retail and other sectors, rise in approvals by regulatory authorities. In addition to that, the strategic alliances by prominent players, and increasing awareness created by the stakeholders boosts the growth rate of the market.

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Several government agencies, associations, and private firms are supporting the usage of embedded software solutions. In light of this, several players operating in this market are investing in development of the many technologies that are suitable for producing cutting edge solutions. Public discussions are also generating a high level of awareness about the benefits as well as putting light on other concerns of end users in different fields.
However, the increased cost, and the dearth of skilled professionals are elements that hinder the market growth to a certain extent. However, the growing initiatives taken by companies to produce cutting edge offerings in the near future is a promising opportunity.
A significant number of players are operating in the global embedded software and tools market. Some of the prominent players include Advantech, Emerson, Enea AB, Green Hills Software, Intel Corp., IBM, Microsoft Corp., NXP, STMicroelectronics, and Texas Instruments, among others.
The top players in the market are continually involved in rigorous strategic moves to sustain themselves in the market. The companies operating in the embedded software and tools industry are also aiming to commercialize their offerings and carrying out ample innovative and strategic initiatives. The providers focus on incorporating newer features in their products to gain a competitive edge over their counterparts.

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COVID-19 Impact
The unprecedented Covid-19 outbreak, in early 2020, hampered several industries, including the embedded software and tools market. Several countries had to undergo a forceful closure of industries, including tourism, aviation, and retail industry. The outbreak supported social distancing and safe hygiene maintenance steps, which discouraged many activities. Moreover, the prolonged lockdown curbed the manufacturing processes, and there was a disruption in the supply chain to a certain extent.
However, with the advent of vaccination drives, the industry is overcoming the brunt of COVID-19. The market is already started to grow as government restrictions are minimum, and end users are back on track with their projects. Even in the midst of the COVID-19 outbreak, the embedded software and tools industry has been high levels of demand in many parts of the world. Since the inclination towards digital services, automation, and ease of accessibility in software is increasing and preferred by many players, the embedded software and tools industry indicates an effective solution to all curtailing current issues. Many startups, and mid-sized companies are focused on overcoming the pandemic outbreak losses and focusing on launching innovative products to start growing in the industry. A lot of companies in the major regions of the world faces research and development losses, and administration losses, in terms of employee absenteeism, growth of the attrition rates, slowdown and stringency in funding procedures and processes, as well as pay out and debts. Nevertheless, many companies are now aiming to grow at a steady rate and overcome the brunt. For instance, in July 2022, Imagination Technologies announced its first real time embedded RISC-V CPU. The IMG RTXM-2200, is a 32bit core, aiming at SoCs for networking, packet management, storage controllers, sensor management for AI cameras as well as smart metering. Thus, such updates fuel the growth rate of the embedded software and tools market at a substantial level and promise huge opportunities in the near future.

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