Embedded System Market - 18.3% of the Market Value by 2021
Embedded graphics systems have now become a mainstay in consumer electronics, which is another industry growing at an exceptional rate.
Healthcare, defense, aerospace, and telecommunications are other industries where the use of embedded systems is bringing about a sea of changes for the better. Embedded systems are also finding a wide range of use in the current high demand concept of smart electronics and connected devices.
The cumulative growth in demand for embedded systems through all these application industries is expected to be a high impact driver for its global market and all its players.
There is, however, a major constraint on the production of embedded system, and that is the set of complications that arise on real time embedded systems implementations.
Real time applications impose a very high strain on embedded systems that are already restricted by regulatory concerns over cooling, weight, power, size, and reliability. This can be mitigated to a large degree through the implementation of modern low-energy consumption embedded systems and low performance controller applications.
The revenue generated in the global market for embedded systems is, as a result, expected to progress at a strong CAGR of 6.4% from 2015 to 2021. This market is expected to reach US$233.19 bn by the end of 2021.
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North America’s Lead over Embedded Systems to Prevail
By the end of 2021, the demand for embedded systems in North America is expected to generate a revenue of US$89.87 bn, which will be the leading share at the time.
The demand for embedded systems in this region has always been very high due to a head start this region gained from early penetration in the U.S. This region has housed a great number of the key players currently functioning in the global market, including Intel Corporation, Texas Instruments, and Freescale Semiconductor.
The high level of research and development efforts taken by these companies has increased the self-reliance of the embedded systems market in North America and eventually had a positive impact on the global market as well.
Asia Pacific held the second place in the top revenue generating regions for embedded systems players in 2014 and is expected to retain its position till 2021. China, Taiwan, South Korea – to name a few – are well on their way towards large scale implementation of modern embedded systems in automotive and consumer electronics industries. The region is expected to see a boom in the demand for embedded systems in the healthcare sector over the coming years.
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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