Throughout the forecast period, the embedded systems market is expected to develop at a CAGR of 5.8%. By 2022 and 2032, the market is expected to be valued US$ 86,450.3 million and US$ 1,52,544.6 million, respectively.
The embedded system is rapidly gaining popularity worldwide because it is extensively used in manufacturing for a variety of operations such as temperature control, driving, networking machinery, controlling assembly line speed, and other activities. This might be attributed to the fact that embedded systems are frequently used to manage, monitor, and support machinery, plant, and equipment operations.
The term “embedded system market” describes the market for computer systems that are created to carry out certain tasks within bigger systems, such as machinery or electronic gadgets. Embedded systems are designed for low power consumption, small size, and real-time operation and often include a microprocessor or microcontroller along with other hardware and software components.
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The growing demand for smart and connected devices across numerous industries, including automotive, healthcare, industrial automation, and consumer electronics, is what propels the market for embedded systems. These sectors make use of embedded systems to increase productivity and performance while enabling features like communication, control, and monitoring.
Based on the hardware components employed, such as microcontrollers, digital signal processors (DSPs), field programmable gate arrays (FPGAs), and application-specific integrated circuits (ASICs), the embedded system market can be divided into many groups. The most often utilized embedded system components are microcontrollers because they provide an affordable and adaptable solution for a variety of applications.
Competitive Landscape
Key Players Revolutionizing the Embedded Systems Market
The market is consolidated by key players present all around the region. These players play a vital role in the growth of the market by applying various marketing strategies to acquire maximum revenue. Some of the common methodologies are product launches, mergers, and collaborations.
Recent Developments in the Embedded System Market
- In December 2019, a company named NXP Semiconductors acquired Marvell Company’s Wi-Fi and Bluetooth connectivity for US$ 1.8 Billion. The deal was taken place to improve the connectivity and scalable processing to their consumers.
- In November 2019, STMicroelectronics launches its new product STM32WB, which is a wireless microcontroller that can support 5.0 technology Bluetooth. It provides high security and is affordable.
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Key Segments in the Embedded Systems Market
By Type:
- Embedded Hardware
- Embedded Software
By End Use Industry:
- Automotive
- Industrial
- Healthcare
- Consumer Electronics
- Energy
- Communication
- Aerospace & Defence
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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