Luton, Bedfordshire, United Kingdom, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Embedded System market.
The global embedded system market is expected to grow at a 5% CAGR from 2022 to 2029. From USD 86.5 billion in 2020, it is expected to exceed USD 103.02 billion by 2029.
Market Overview
An embedded system is a hardware and software system based on a microprocessor or microcontroller that is designed to perform specific functions within a larger mechanical or electrical system.
Embedded systems are at the heart of many different products, machines, and intelligent operations, such as machine learning and artificial intelligence applications. As embedded systems applications proliferate in every industry and sector today, embedded devices and software play an increasingly important role in the operation of automobiles, home appliances, medical devices, interactive kiosks, and other everyday items.
While real-life embedded systems have become an important part of our lives, they are designed to function with little human intervention. Because of their small size, simple design, and low cost, they are used in industries such as aerospace, automotive, healthcare, and even smart cities. As a result, they are a driving force behind today's digital, connected, and automated world.
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Growth Drivers
- Growing usage of embedded systems in smart homes
- Increasing demand in healthcare applications Rapidly growing demand for wearable devices
- Growing need for optical sensors in medical applications
- Rising demand for embedded systems in military
- Increasing adoption of industrial automation and robotics
- Rising adoption of embedded systems in automotive electronics
- Growing adoption of artificial intelligence and IoT
- Rapidly growing demand for wearable devices
Challenges
- Complex designs of embedded systems
Highly Customizable Embedded Systems Will Drive Innovation
- Use of multi-core processor platforms: Due to new processes and power conservation technologies These platforms also enhance processor design by increasing clock speed, lowering power consumption, and integrating graphic performance.
- Address security problems: Embedded systems with components (processor, operating system, applications) that are imbued with security features are more likely to experience accelerated demand.
- Meet the demand for video processing: As embedded electronic devices are now equipped with higher processing power; consumers are demanding better video processing and enhanced visuals. Embedded systems with increased capabilities to enhance video data transfer and social sharing will capture an even larger market.
- New 3D design software – Becoming increasingly complex, embedded electronic hardware has rendered some computer-aided design programs obsolete. New and more advanced 3D design software is needed to replace existing tedious embedded system design processes to drive growth in the field.
- Deliver cost-effective solutions – Because embedded systems are relatively new and costly to implement, the costs may easily hinder innovation. To bridge the gap, developers and designers must present more economical embedded system designs that are affordable.
- Leverage the emergence of 5G - The 5G market is expected to reach US$2.2 trillion by 2034. Embedded electronic devices based on 5G architecture are bound to fuel the growth of the embedded systems market.
- Match demand in the automotive industry - Embedded systems are playing an important role in the evolution of the automotive industry, this is especially so in the development of the Advanced Driver-Assistance System for hybrid and electric vehicles.
The Future of Embedded Systems
Embedded Systems are a combination of computer software and hardware suited to a particular task that is in itself a part of a larger system. In 20 years from now, ESs are going to be everywhere.
In contrast to traditional ESs, current operating systems are becoming more complex; that is, they are turning more autonomous, more open, more networked, and more intelligent.
A new era of novel ESs, Intelligent embedded systems (IESs), has come to the surface as an application to real-time control features afforded by artificial intelligence (AI).
With the advent of the field of electronics, networking, and wireless communications, robotics, and devices around us communicate in more ways than we have ever imagined. Some future applications of ESs:
- Smart healthcare systems: Having smart healthcare systems might be one of the most important applications of future ESs.
- Internet of Things: The Internet of Things is a technology revolution becoming a reality. It involves connecting and communicating devices carefully integrated into the objects with which we interact in our daily lives.
- Smart agriculture: Agriculture is one of the primary fields that require technical assistance of something as awesome as ESs.
- Intelligent transport systems
- Smart architecture: Smart cities, buildings, and homes have become a reality. These houses have electronic circuits and sensors embedded through their walls and floors and allow you to operate your entire house via your smartphone/tablet App.
Embedded System Market Segmentation Insights
By Component
- Hardware
- ASIC & ASSP
- Microcontroller (MCU)
- Microprocessor (MPU)
- Power Management Integrated Circuit (PMIC)
- Field programmable gate arrays (FPGA)
- Digital Signal Processor (DSP)
- Memory
- Software
- Operating System
- Middleware
By Function: Real-time system will gain lucrative opportunities from the defense sector
- Standalone System
- Real-time System
- Network System
- Mobile System
The real-time segment in the embedded system market is estimated to attain a CAGR of 9% by 2026 owing to the advent of smart sensors, advanced human-machine interfaces, and IoT in embedded systems.
The embedded system's real-time operation increases its use in industrial robots, digital cameras, wireless routers, gaming consoles, microwave ovens, and other devices. In addition, the segment is gaining popularity in the weapon defense system, which functions as a naval destroyer by shooting down incoming missiles.
By System Size
- Small-Scale Embedded Systems (8 bit -16 bit)
- Medium-Scale Embedded Systems(16 bit -32 bit)
- Large-Scale Embedded Systems (32-bit -64 bit)
The medium-scale embedded systems segment dominated the global embedded system market, accounting for 72.36% of the market in 2020. Medium-size embedded systems are those that use 16-bit to 32-bit microcontrollers.
The market is expanding due to rising demand for medium-sized embedded systems in home appliances and telecommunications.
By End User
- Automotive
- Consumer Electronics
- Manufacturing
- Retail
- Media & Entertainment
- Military & Defense
- Telecom
During the forecast period, the automotive segment will be the fastest-growing segment in the embedded system market, owing to rising demand for infotainment and ADAS systems in vehicles.
The advanced use of embedded systems in vehicles aids in pollution control, accelerating their global market demand. Stringent regulations on low carbon emission requirements will add to the industry's value.
Embedded System Market Regional Insights
North America had the highest share of Embedded Systems. The internet of things (IOT) is a thriving industry, particularly in the North American embedded industry, where tech companies are increasingly developing innovative electronic appliances. Almost 66% of North American homes have at least one IOT device, with 25% of North American homes having more than two IOT devices.
Over the forecast period, Asia Pacific is expected to grow significantly. Analysts predict that the APAC region will grow at a moderate rate of 7.65% during the estimated study period.
During the forecast period, Europe is expected to trail the Asia-Pacific and North American regions. During the forecast period, Europe is expected to acquire 24.8% of the total market share of embedded systems.
Competitive Insights
Some major key players in the embedded system market are Freescale Semiconductor, Renesas Electronics Corporation, Qualcomm, Advanced Microdevices, Samsung Electronics Corporation, Intel Corporation, Analog Devices, Broadcom, Cypress Semiconductor, Infineon, Intel, Marvell, Maxim Integrated, Microchip, Nuvoton, NXP Semiconductors, Renesas, Samsung Electronics, Silicon Laboratories, STmicroelectronics, Texas Instruments, Toshiba and others.
Industry News:
- May 24, 2022: Samsung Electronics and Red Hat Announce Collaboration in the Field of Next-Generation Memory Software
- Mar 15, 2022:Intel Announces Initial Investment of More Than €33 Billion for Semiconductor R&D and Manufacturing in EU
FAQS
- What is the Growth Outlook for the Embedded System Market?
- Which Region Leads the Embedded System Market?
- Which are the prominent embedded systems players across the globe?
- What segments are covered in Global Embedded System Market?
- What will be the future of the Embedded System Market?
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