Global Embedded System Market to Soar at a CAGR 5.6% to 2023: Growth Factors & Trends

Global Embedded System Market is Projected to grow at 5.6% CAGR during the period 2016-2023. Embedded System Industry research report also provides granular analysis of the market share, Size, segmentation, revenue forecasts and geographic regions of the market.

Embedded hardware system market size was valued USD 154.82 billion in 2015 and is anticipated to observe significant gains, with USD 240.11 billion at a CAGR of 5.5% from 2016 to 2023. Technological innovation and advancement in emerging nations such as Russia, India, China, Brazil and Taiwan is likely to spur growth. Embedded software was valued at USD 10.46 billion in 2015, and is anticipated to attain USD 18.61 billion by 2023, at an estimated CAGR of over 7.3% over the forecast period.

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Embedded system market size is likely to be valued USD 258.72 billion by 2023, as per a new research report by Global Market Insights, Inc. Mounting need mainly from application sectors such as healthcare as well as automotive is expected to drive demand. In addition, emergence of IoT is anticipated to fuel industry growth.

Technology innovation in wireless communications, software and digital processing is expected to positively impact embedded system market size. Systems that effectively and efficiently drive the electronic contents within vehicles have also increased significantly in automotive sector. This assists safety systems on the highest priority by monitoring parameters such as tire inflation, antilock braking systems, remote keyless entry, antitheft and airbag systems. However, security risks related to the systems is anticipated to hinder the industry growth.

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Key insights from the report include:
Global embedded system market size was valued USD 165.28 billion in 2015 and is anticipated to attain USD 258.72 billion by 2023 at 5.6% from 2016 to 2023.

Automotive sector valued USD 34.64 billion in 2015 which is likely to attain USD 56.04 billion by 2023, growing at a CAGR of 6% from 2016 to 2023. Increasing acceptance of hybrid as well as electric vehicles in order to control emissions is likely to fuel the industry growth. Healthcare sector is likely to grow at a CAGR of 6.3% over the next few years. Rising need for portable medical devices in this application is predictable to boost the global growth.
U.S. embedded system market share dominated the regional demand, accounting for over 30% of total revenue in 2015. Asia Pacific is anticipated to grow at a CAGR of 6% up to 2023. This can be attributed to the presence of fabrication plants in the region.

Moderately competitive industry consists of top four manufacturers accounting for more than 50% of the embedded system market share. Key manufacturers include Infineon Technologies, Freescale Semiconductor, Atmel Corporation, Renesas Electronics, Samsung, STMicroelectronics, Texas Instruments and Microchip among others.

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Related Reports: -
Global Industrial Embedded Systems Market 2016-2020
Integrated circuits and microchips have revolutionized industrial automation. The earliest example of a single board single purpose design is the PC/104, which had accessory boards to accommodate many application needs, but was as large as a 3.5-inch floppy disk. Chip manufacturers subsequently improvised and developed single board systems with smaller processors that can perform advanced functions.
https://www.marketstudyreport.com/reports/global-industrial-embedded-systems-market-2016-2020//?utm_source=RR-SP

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