Embedded Systems Market Sales to Top ( USD 173.4 Billion by 2032 ) | CAGR of 6.8%
Updated · Mar 06, 2023
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Published Via 11Press: The Global Embedded Systems Market was valued at USD 91.3 billion in 2022. This market is estimated to register the highest CAGR of 6.8% in the forecast period of 2023-2032. It is expected to reach USD 173.4 billion.
In terms of application, the healthcare industry holds one of the largest shares in the global embedded system market due to its rising use in medical imaging equipment, patient monitoring systems, and wearable medical devices. The automotive sector is another key user of embedded systems as they are used in a variety of applications ranging from infotainment systems to advanced driver assistance functions. Additionally, manufacturers have been increasingly adopting machine vision solutions powered by artificial intelligence (AI) and deep learning technologies implemented on embedded computing platforms for industrial automation purposes.
Due to their widespread use across different end-user industries, growth in demand for embedded system products from OEMs has been very significant over recent years; this has spurred vendors worldwide into developing new technology solutions for data processing and management capabilities based on these platforms.
Key Takeaways of the Embedded System Market
- The global embedded systems market is expected to grow at 6.8% CAGR during the forecast period, from USD 91.3 billion in 2022 up to USD 173.4 billion in 2032.
- With the increasing adoption of connected cars and advanced driver assistance systems (ADAS), the automotive industry is still the largest end-user for embedded systems.
- With the growing adoption of remote patient monitoring systems and medical devices, the healthcare industry is also a significant end-user for embedded systems.
- Consumer electronics will see significant growth in the embedded systems market due to the growing demand for smart homes, wearables, and connected devices.
- Due to IoT technology adoption and growing demand for automotive electronics and consumer electronics in countries like China, India, and Japan, the Asia-Pacific region will see significant growth in embedded system sales.
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North America: Led by major technology companies and the widespread adoption of IoT technologies across various industries, the North American embedded system market is the largest worldwide. With a major emphasis on the automotive and healthcare sectors, the United States has been the primary driving force behind market expansion.
Europe: The demand for smart devices and IoT technologies across various industries is propelling growth in the European embedded system market. Germany, France, and the UK are leading this growth with their strong economic foundations.
Asia-Pacific: The market for embedded systems in this region is forecast to expand significantly during the forecast period due to rising IoT technology adoption rates and an uptick in consumer and automotive electronics demand. Recently, sectors such as automotive, healthcare, and consumer electronics have received much attention – with China, India, and Japan being the main drivers of market growth within these fields.
Latin America: With the increasing acceptance of IoT technologies and demand for smart devices, the Latin American embedded system market is expected to expand moderately over the forecast period. Brazil and Mexico are leading this expansion with a strong emphasis on the automotive, healthcare, and consumer electronics sectors.
Middle East & Africa: The embedded systems market in this region is forecast to increase moderately over the forecast period due to increasing IoT technology adoption and demand for smart devices. The United Arab Emirates and South Africa, particularly with a focus on the automotive, healthcare, and consumer electronics industries, will be the main driving forces of market expansion.
Smart devices are becoming increasingly popular
The embedded system market is experiencing tremendous growth due to the growing demand for smart devices like smartwatches, phones, and electricity. One of the greatest challenges when designing these products is integrating multiple technologies together. An embedded system takes all of this software and hardware from smart devices together, making them more efficient overall. As a result, demand for these intelligent products continues to grow steadily.
The automotive industry increasingly turns towards embedded systems for efficiency.
Since 2010, embedded systems have seen exponential growth. Automakers are embedding embedded technology into their cars for various functions like ignition and security, as well as in airbag systems, GPS navigation systems, antilock braking systems, and fuel injection controller devices.
Growing privacy and security risks pose growing threats.
Sensitive data must often be stored, accessed, and communicated via embedded systems, raising security and privacy worries. One major risk associated with embedded systems is that hackers could exploit them to gain access to smart cars, the rapidly expanding networks for connected transportation infrastructure, homes, and industrial equipment – potentially restricting industry expansion due to growing privacy and security worries.
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Increasing use of embedded systems in medical equipment
Nowadays, embedded systems in the healthcare sector provide several benefits. They have been utilized in numerous technologies, including MRIs, CT scans, and monitoring systems for vital signs. Also, the embedded system enables medical experts to remotely monitor the patients. Also, smart hospital beds are made using embedded technology. Consequently, growing embedded system applications in the healthcare sector provide market expansion potential for vendors.
Manufacture shortage of skilled professionals
The integration of new technologies is making embedded systems more complex. There is a shortage of qualified professionals with in-depth knowledge of the embedded system. Accordingly, the market’s growth will be impeded by a shortage of skilled professionals over the forecast period.
The acquisition of Cypress Semiconductor Company by German semiconductor maker Infineon Technologies AG has been approved in all relevant jurisdictions, and the transaction is anticipated to complete in five working days.
In order to increase server performance and utilization, Baidu’s BIDU cloud platform has chosen Broadcom Inc.’s Stingray Ethernet-based adapter, known as 100G SmartNIC. Broadcom Inc. is an American designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products.
Key Market Segments
- Operating Systems
- Consumer Electronics
- Aerospace and defense
Top Key Players in the Market
- Intel Corporation
- Texas Instruments Corporation
- Infineon Technologies AG
- NXP Semiconductors
- Renesas Electronics Corporation
- Analog devises Inc.
- Kontron AG
- Advantech Co., Ltd.
- Microchip Technology Inc.
- Xilinx, Inc.
- Qualcomm Technologies, Inc.
- Other Key Players
|The market size value in 2022||USD 91.3 Bn|
|Revenue forecast by 2032||USD 173.4 Bn|
|Growth Rate||CAGR Of 6.08%|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World|
|Short-Term Projection Year||2028|
|Long-Term Projected Year||2032|
Frequently Asked Questions (FAQ)
Q: What are some key players in the embedded system market?
A: Key players in the embedded system market include Intel Corporation, Texas Instruments Corporation, Infineon Technologies AG, NXP Semiconductors, Microsoft, SAMSUNG, Renesas Electronics Corporation, Analog devises Inc., Kontron AG, Advantech Co., Ltd., Microchip Technology Inc., Xilinx, Inc., Broadcom, Qualcomm Technologies, Inc., Marvell, Other Key Players
Q: What is the size of the embedded system market?
A: Embedded Systems Market was valued at USD 91.3 billion in 2022. This market is estimated to register the highest CAGR of 6.8% in the forecast period of 2023-2032. It is expected to reach USD 173.4 billion.
Q: What are the different Applications of the embedded system market?
A: Different applications in the embedded system market include Automotive, Healthcare, industrial, Consumer Electronics, Communication, Aerospace, and defense
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