According to a report, “Embedded System Market Analysis By Product (Hardware, Software), By Application (Automotive, Telecommunication, Healthcare, Industrial, Consumer Electronics, Military & Aerospace) And Segment Forecasts To 2020”, published by Grand View Research, Inc., The global embedded systems market is expected to reach USD 214.39 billion by 2020. Growing adoption and evolution of the Internet of Things (IoT) driven by technological advancement is also expected to fuel the industry over the next six years.
Increasing demand for end-use industries such as healthcare and consumer electronics is expected to positively impact the embedded systems market. Key requirements for an efficient embedded system include high degree of reliability and responsiveness as well as low cost, since these devices are embedded in safety critical systems. Decreasing prices of microcontrollers, which are a key component of embedded hardware, is expected to give impetus to the market in the coming years.
Key Takeaways from the report:
- Embedded hardware is expected to remain the dominant product segment and accounted for 93.8% of the global market in 2013. It includes Digital Signal Processors (DSP), microprocessors as well as microcontrollers. Embedded software is expected to grow at the fastest rate of 8.1% from 2014 to 2020.
- Automotive is expected to continue leading the global market; the segment accounted for 20.8% of the overall market share in 2013. This can be attributed to the high electronic content in automotives coupled with growing focus on Hybrid Electric Vehicles (HEV) for energy efficiency. The market for healthcare applications is expected to be the fastest growing, at a CAGR of 7.1% from 2014 to 2020.
- North America accounted for over 34% of the global market in 2013, and is expected to remain the largest regional market over the next six years. The market in Asia Pacific is marked by the presence of semiconductor fabrication plants such as the Taiwan Semiconductor Manufacturing Company (TMSC); the region also comprises a significant number of skilled professionals. As a result, the market in this region is expected to grow at a CAGR of 6.7% from 2014 to 2020, faster than the global average.
- Companies operating in the global embedded systems market offer embedded software development as well as hardware such as microcontrollers and microprocessors. Key industry participants include Renesas Electronics, Intel Corporation, Freescale Semiconductor, Infineon Technologies, Atmel Corporation and Samsung Electronics among others.
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Grand View Research has segmented the global embedded systems market on the basis of product, application and region:
Embedded Systems Product Outlook (Revenue, USD Billion, 2012 – 2020)
- Embedded Hardware
- Embedded Software
Embedded Systems Application Outlook (Revenue, USD Billion, 2012 – 2020)
- Consumer Electronics
- Military and Aerospace
Embedded Systems Regional Outlook (Revenue, USD Billion, 2012 – 2020)
- North America
- Asia Pacific
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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