Embedded Computing Industry Overview:
Embedded computing market is expected to garner $236.5 billion by 2022, registering a CAGR of 6.2% during the forecast period 2016 to 2022. Embedded computing system is a combination of embedded hardware and software which are designed to perform specific dedicated function in an electronic device or machine. The hardware and software are two distinguished parts of any embedded computing system and are activated by set of commands called program to perform an operation as lone system. Microcontrollers (MCUs) or microprocessors (MPUs) or other custom designed chips along with supporting software in ROM (Read Only Memory) are used to run an embedded computing system. They have strong characteristics of high speed, low power consumption, accuracy, adaptability, reusability, reliability, size and others. Some of the elements in an embedded computing system include interfaces, input/output devices, display, memory and others. In general, it encompasses storage, timers, power supply, system application circuits and serial communication part. Embedded computing systems are used to control, monitor or perform a specific function of an electronic equipment by executing a fixed set of commands, rules, plan or programs, such functions include reading inputs, data processing, display output, generating & transmitting data and others.
Embedded computing systems are vastly used in a variety of applications including home applications, office automation, banking and financial institutes, security, automobile, defense, personal, healthcare and other sectors. The market for embedded computing has been driven by growing adoption of consumer electronics and rise in adoption of artificial intelligence. Other factors impacting the global embedded computing market include growing digitization in healthcare, industrial automation and increasing demand in automobile, defense and other sectors. The demand for embedded computing is increasing worldwide on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs). Also, the hardware of embedded system has limitations of its own including limited life-span, memory capacity and others.
Embedded computing market is segmented based on type in to two segments-1. Hardware and 2. Software. Software is further segmented as Microprocessors, Microcontrollers, Digital Signal Processors and others (ASCI & FPGA). As per end user, embedded computing market is segmented as automotive, industrial, healthcare, energy, communication, consumer electronics and others (banking, transport, government, robotics, defense).
Global embedded computing market by end users:
The healthcare sector uses embedded computing technology to a great extent owing to its high reliability and capability of providing efficient healthcare solutions and services. For research in medical sciences, embedded computing plays a vital role in various applications such as medical electronic devices, customized medical monitoring systems, fault tolerant wearable computers, electrocardiogram, and others.
Healthcare organizations collaborate diverse systems to monitor and improve patient care. These organizations are focused toward utilizing enhanced networking solutions that help in reducing reconfiguration time for medical systems. For example, CustMed is a network-enabled platform that reduces the reconfiguration and customization time for medical systems. The embedded computing system is used for data reading with the help of devices such as sensors and nodes, ultrasounds, ECG, fitness equipment, X-ray & computed tomography (CT) scan, magnetic resonance imaging (MRI), remote patient monitoring, and other devices.
Key growth factors and opportunities
The evolution in technology and increasing use of Internet facilitates the rise in adoption of embedded computing solutions and services in the healthcare sector. The migration of X-rays from film to files; evolution of MRIs from slow & fuzzy to fast & highly detailed, portable ultrasound devices; possibility of retinal implants; and others are some of the advanced technological devices in the healthcare sector. Advancement in medical imaging, telecom complementing the medical imaging, and Internet of Things-enabled devices are projected to accelerate the market.
Top factors impacting Global embedded computing market
Increasing use of embedded computing system in consumer electronics
Embedded computing is an integral part of consumer electronics. Variety of electronic devices such as mobile phones, laptops, personal computers, gaming consoles, and others depend embedded computing technology. Rising standards of living, awareness about technology, and falling prices of consumer electronics devices has increased the penetration of consumer electronics equipped with embedded computing among end user verticals. The demand for consumer electronics devices is expected to increase owing to innovation and rapid adoption of technological advancements, which in turn is projected to drive the embedded computing market growth during the forecast period.
Usage of embedded computing in Artificial intelligence
The adoption of artificial intelligence is growing at a significant rate in end user verticals due to the increasing demand for solving complex problems. The acceptance of artificial intelligence is observed in computer games, power system stabilizers, medical sciences, accounting database, robotics, and others. Artificial intelligence is highly reliable on embedded computing for complete existence, therefore the rising demand for artificial intelligence is projected to have positive impact over the embedded computing market growth.
Changing dynamics in the developing countries has provided immense opportunities for the key players operating in the embedded computing market. Growing GDP and high adoption of technology have provided potential customer base for the major players offering embedded computing solutions and services. Emerging economies that include India, China, Singapore, Brazil, Thailand, Mexico, Vietnam, United Arab Emirates, Malaysia, and others have unique commercial environment and offer growth opportunities for key players to target untapped markets. Several government initiatives and rules & regulations have been resulting into increase in demand for embedded computing systems.
Embedded Computing Market Key Benefits:
- This report provides an in-depth knowledge of the Global embedded computing market to elucidate opportunities in the market.
- Current trends and future estimations have been outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold.
- A quantitative analysis of the current market trends and forecast from 2016 to 2022 has been provided to highlight the financial competency of the market.
- Porter’s Five Forces analysis of the industry illustrates the potency of buyers and suppliers operating in the market.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
EMBEDDED COMPUTING MARKET SEGMENTATION:
The market for embedded computing is segmented as:
- Microprocessor (MPUs)
- Microcontroller (MCUs)
- Digital Signal Processor (DSPs)
- Others (ASIC & FPGA)
By End User
- Consumers Electronics
- Others (Banking, Transport, Government, Robotics, Defense)
- North America