Embedded Systems Market

Embedded Systems Market Research, 2031

The global embedded systems market was valued at $89.1 billion in 2021, and is projected to reach $163.2 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.

A computer hardware and software combination created for a particular purpose is an embedded system. Additionally, embedded systems may operate as part of a bigger system. The systems may be programmable or may only perform certain functions. An embedded system is generally found in industrial equipment, consumer electronics, agricultural and processing sector equipment, automobiles, medical equipment, cameras, digital watches, home appliances, airplanes, vending machines, and others.Embedded systems engineer are revolutionising the embedded system design process and altering the way data centres are managed. These chips allow critical tasks to be transferred from software to hardware in order to save power, which is critical for power-sensitive embedded systems applications.

The global embedded systems market is expected to witness notable growth during the forecast period, owing to an increase in demand for advanced driver-assistance system (ADAS) in electric vehicles (EV)s and hybrid vehicles. Furthermore, rise in in the number of embedded systems-related research and development projects will drive the global embedded systems market growth. Moreover, demand for multicore central processing units (CPUs) in military applications is expected to propel the embedded systems industry growth during the forecast period. However, security of embedded devices is one of the main restraints that has restricted the growth of the embedded system market. On the contrary, rise of 5G and development of 5G based embedded devices is expected to provide lucrative opportunities for the growth of the market during the forecast period.

The outbreak of COVID-19 has significantly impacted the growth of global embedded systems market in 2021, owing to a significant impact on prime players operating in the supply chain. However, increase in ADAS in EV and hybrid vehicles and Increase in the number of embedded systems-related research and development projects globally acts as one of the major factors that propelled the market growth during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects, owing to partial or complete lockdown globally. Furthermore, rise of 5G and development of 5G based embedded devices is expected to grow for a long period.

The embedded systems market is segmented into Application and Component.

Based on application, the market is segregated into automotive, consumer electronics, industrial, aerospace and defense, and others. The consumer electronics segment acquired the largest share in 2021 and is expected to grow at a significant CAGR from 2022 to 2031 for embedded systems market forecast.

On the basis of component, the market is divided into hardware and software. In 2021, the hardware segment dominated the market, in terms of revenue, and is expected to follow the same trend during the forecast period.

Region-wise, the embedded systems market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America remains a significant participant in the embedded systems market. Major organizations and government institutions in the country are intensely putting resources into technology to grab embedded systems market opportunity during the forecast period.

Competitive analysis and profiles of the major global embedded systems market players that have been provided in the report include, Analog Devices, Cypress semiconductors, Infineon Technologies, Intel Corporation, Microchip Technology, NXP Semiconductors, Qualcomm Incorporated, Renesas Electronics, STMicroelectronics and Texas Instruments, Inc.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the embedded systems market size segments, current trends, estimations, and dynamics of the embedded systems market analysis from 2021 to 2031 to identify the prevailing embedded systems market opportunities.
• The embedded systems market outlook is offered along with information related to embedded systems market share key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the embedded systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global embedded systems market trends, key players, market segments, application areas, and market growth strategies.

 Embedded Systems Market Report Highlights