Embedded System Market Forecast: Growth Driven by Cross-Industry Adoption and 5G Innovations

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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