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Embedded Systems Market Key Trends, Insights, Analysis 2024-2033: A Comprehensive Report
Embedded Systems Market Key Trends
As per the report, the embedded systems market size has grown strongly in recent years. It will grow from $101.44 billion in 2023 to $110.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The embedded systems market size is expected to see strong growth in the next few years. It will grow to $159.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
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Energy Efficiency and Sustainability Fueling Growth in the Embedded Systems Market
The increasing focus on energy efficiency and sustainability is expected to propel the growth of the embedded systems market going forward. Energy efficiency and sustainability refer to the practice of using less energy to perform the same tasks, thereby reducing energy waste, and adopting methods and technologies that meet present needs without compromising the ability of future generations to meet their own needs. Energy efficiency and sustainability are in need due to increasing concerns over environmental degradation, resource depletion, and climate change. Embedded systems contribute to energy efficiency and sustainability by optimizing energy usage, integrating renewable energy sources, and enabling intelligent grid technologies. For instance, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global energy investment rose to $1,740 billion in 2023 from $1,617 billion in 2022. Around USD 2.8 trillion will be invested in energy in 2023. More than USD 1.7 trillion is being allocated to clean energy initiatives, encompassing renewable power, nuclear, grids, storage, low-emission fuels, efficiency enhancements, end-use renewables, and electrification. Therefore, the increasing focus on energy efficiency and sustainability is driving the growth of the embedded systems market.
Strengthening Embedded Systems Security Innovations And Solutions
Major companies operating in the embedded systems market are developing security solutions to protect embedded devices and systems from cyber threats. Security solutions help to protect embedded devices and systems from cyber threats by implementing various measures such as encryption, authentication, and secure boot mechanisms. For instance, in July 2023, Kaspersky, a Russia-based cybersecurity and anti-virus software company, launched Kaspersky Embedded Systems Security. Kaspersky Embedded Systems Security offers robust protection for Linux-based embedded devices tailored to their specific security needs. It features multi-layered defenses, application controls, and integrity monitoring, ensuring compliance and protection against evolving threats.
The embedded systems market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Function: Real-Time, Standalone, Mobile, Networked
3) By System Size: Small Size, Medium Size, Large Size
4) By End-Use Industry: Automotive, Consumer Electronics, Aerospace And Defense, Healthcare, Telecommunication, Industrial, Other End-Use Industries
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Major companies operating in the embedded systems market are Samsung Electronics, Sony Semiconductor Solutions Corporation, Siemens AG, Intel Corporation, Qualcomm Technologies Inc., Honeywell International Inc., Broadcom Inc., Nvidia Corporation, Advanced Micro Devices Inc., Texas Instruments, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc. , Marvell, Vishay Intertechnology Inc., Arm Limited, Silicon Labs, Nordic Semiconductor, Lattice Semiconductor, Raspberry Pi Foundation, Arduino
Contents of the report:
1. Executive Summary
2. Embedded Systems Market Report Structure
3. Embedded Systems Market Trends And Strategies
4. Embedded Systems Market - Macro Economic Scenario
5. Embedded Systems Market Size And Growth
…..
27. Embedded Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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