New York, United States , June 12, 2023 (GLOBE NEWSWIRE) -- The Global Embedded System Market Size is to grow from USD 156.35 billion in 2022 to USD 262.05 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
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Embedded systems are computing devices designed to perform specific tasks within a larger system. These systems are integrated into other products or devices and work behind the scenes to provide functionality. They are found in a wide range of applications such as home appliances, automobiles, medical equipment, and industrial machinery. Embedded systems are typically designed to be low-power, compact, and operate in real-time. They may include a microcontroller, sensors, and other components that allow them to interact with the environment and perform their intended function. As the demand for smart, connected devices increases, the importance of embedded systems continues to grow.
Report Coverage
This research report categorizes the market for embedded system market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the embedded system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the embedded system market.
Browse key industry insights spread across 210 pages with 125 market data tables and figures & charts from the report on "Global Embedded System Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Function (Standalone system, Real-time system, Network system, and Mobile system), By Application (Automotive, Consumer Electronics, Manufacturing, Retail, Media & Entertainment, Military & Defense, Telecom, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here:
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The microprocessor component is expected to grow at a CAGR of 6.5% during the forecast period.
Based on the type of component, the global embedded system market is segmented into hardware and software. The microprocessor component sub-segment of hardware is anticipated to witness significant growth in the forecast period within the embedded system market. This growth can be attributed to the increasing demand for more powerful and energy-efficient microprocessors to support the advancement of complex applications such as artificial intelligence, machine learning, and edge computing. The expanding use of microprocessors in various industries, including automotive, healthcare, and industrial automation, is driving the growth of this segment. Furthermore, advancements in semiconductor technology and the development of multicore processors are further fueling the growth of the microprocessor component segment.
The standalone system segment held the largest revenue share of around 32.4% in 2022.
Based on function, the global embedded system market is segmented into standalone system, real-time system, network system, and mobile system. The standalone system segment held the largest market share in 2022, the demand for standalone embedded systems is driven by factors such as ease of use, portability, and lower cost of implementation. Additionally, standalone systems offer higher security and data privacy, making them suitable for sensitive applications. With the increasing demand for smart and connected devices, the standalone system segment is expected to continue dominating the embedded system market, especially in applications that require high levels of security and reliability.
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Asia-Pacific is anticipated to grow at a significant CAGR over the forecast period.
Based on region, Asia-Pacific is poised to witness significant growth in the forecast period in the embedded system market. The region's rapid economic growth, coupled with a rising population and increasing urbanization, creates a favorable environment for the adoption of embedded systems. The expanding consumer electronics market, especially in countries like China and India, is a key driver for this growth. Additionally, the automotive industry in the region is experiencing substantial development, with a focus on electric vehicles and advanced driver-assistance systems, further propelling the demand for embedded systems. Moreover, the growing industrial automation and smart manufacturing initiatives in countries like Japan and South Korea contribute to the anticipated growth of the embedded system market in the Asia-Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global embedded system market includes Intel Corporation, Renesas Electronics, Texas Instruments Inc., NXP Semiconductors, Qualcomm Incorporated, Cypress Semiconductors, Infineon Technologies, Analog Devices Inc, Microchip Technology Inc., STMicroelectronics N.V., Samsung Electronics, On Semiconductor, and Toshiba Corporation.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global embedded system market based on the below-mentioned segments:
Embedded System Market, By Component
- Hardware
- Software
Embedded System Market, By Function
- Standalone system
- Real-time system
- Network system
- Mobile system
Embedded System Market, By Application
- Automotive
- Consumer Electronics
- Manufacturing
- Retail
- Media & entertainment
- Military & Defense
- Telecom
- Others
Embedded System Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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