According to a recent report published by Allied Market Research, titled, "Embedded Processor Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2026," the global embedded processor market was valued at $21,425.2 million in 2018, and is projected to reach $36,381.4 million by 2026, registering a CAGR of 6.6% from 2019 to 2026.
An embedded processor is especially designed for handling the needs of an embedded system and to handle multiple processors in real time. A processor embedded into a system handles all the computational and logical operations of a computer. These processors are in a form of computer chip that is embedded in various microcontrollers and microprocessors to control various electrical and mechanical systems. These processors are also equipped with features such as storing and retrieving data from the memory.
The embedded processor market share is expected to experience growth in the near future due to increasing initiatives by the government in terms of funding toward digitalization. Innovation in technologies in consumer electronics industry such as integration of IoT, cloud connectivity, and Bluetooth networking, are increasing the demand for embedded processors. Embedded processors can support the functionality of advanced displays and graphics, with privacy and reliable security features, which increases it adoption in many electronic devices. For instance, NXP semiconductor recently launched i.MX applications processors that support multimedia and display applications.
North America occupied a major share in the global embedded processor market size in 2018. The region has major players offering advanced solutions. This is attributed to the extensive adoption of advanced technology by the region, which is expected to propel the market growth. Rise in number of electronics applications fuels the growth of the embedded processors market in the region. Increase in the semiconductor industry coupled with rise in trends in data processing and power transmission and processing propel the growth of the U.S. embedded processor market. The U.S. is the fastest adopter of technology owing to which the growth of consumer electronics device, upcoming automobile technology such as electric & hybrid vehicles, healthcare monitoring systems, and others, is high. Increase in disposable income of the people in the U.S. drives the sales of the equipped embedded processors.
Based on the embedded processor market analysis, consumer electronics segment has generated the highest revenue in 2018 followed by automotive & transportation segment, mentioned in the report.
An embedded system is an electronic or computer system that is designed to control and access the data in an electronics-based system. In addition, the use of embedded systems is experiencing growth among various industry verticals. The incorporation of embedded processors in automobiles has increased rapidly in the past two decades. Automobile manufacturers incorporate embedded processors in their cars for different functionalities such as ignition, security, and audio system. The technological innovations of various embedded systems within the vehicle are aiming toward building energy efficient, network savvy, and safer automobiles. Applications such as embedded airbag system, embedded navigation system, adaptive cruise control, embedded rain sensing system, and among others requires the usage of embedded processors which contribute towards the latest embedded processor market trends.
Key Findings of the Embedded Processor Market :
- Based on type, the microprocessor segment generated the highest revenue in the global embedded processor market in 2018.
- Based on application, the consumer electronics segment generated the highest revenue in the embedded processor market in 2018.
- Based on region, Asia-Pacific generated the highest revenue in the embedded processor market in 2018.
The key players profiled in the report include NXP Semiconductors, Broadcom Corporation, STMicroelectronics, Intel Corporation, Infineon Technologies AG, Analog Devices Inc., Renesas Electronics, Microchip Technology Inc., Texas Instruments, and ON Semiconductor. These key players adopt several strategies such as, new product launch and development, acquisition, partnership & collaboration, and business expansion to increase their embedded processor market share during the forecast period. For instance, in June 2018, Analog Devices launched ADuCM355 precision analog microcontroller with biosensor and chemical sensor interface that enables the next generation of intelligent electrochemical sensors.