Global Embedded System Market to Reach US$233.13 bn by 2021 owing to Increasing Demand for Smart Devices
Embedded systems are primarily deployed in advanced devices such as smart meters to ensure accurate functioning. Embedded systems are a single-purpose, application-specific computer, which are designed into a larger system to monitor and control the overall system.
The rising demand for various embedded systems with embedded graphics and multi-core technologies is predicted to propel the global embedded system market in the years to come. Further, the increasing demand for power-efficient and smarter electronic devices is expected to boost the global embedded system market in the next few years.
Global Embedded System Market to Expand at 6.40% CAGR from 2015 to 2021
The increasing adoption of embedded systems across the globe is predicted to contribute towards the growth of the global embedded system market. Recently, in Fremont, CA, American Portwell Technology, Inc., a global leader in the Industrial PC market, announced the launch of the new WEBS-21A0 fanless embedded system featuring the 15W SKUs of 5th-generation Intel Core processor product family. The compact, rugged design, and high performance capability would make the WEBS-21A0 an ideal solution for applications in digital signage, kiosks, in-vehicle mobile video surveillance, defense, and medical purposes. With its greater processing power, support for 4K resolution, and high performance capability, Portwell’s WEBS-21A0 is an ideal solution for 3D video/image applications.
The global embedded system market is predicted to expand at a 6.40% CAGR during the period between 2015 and 2021 owing to the impact analysis of drivers, the increasing demand for smart devices, and the increasing applications of embedded systems across various industries, especially in the automobile industry. The global embedded system market is predicted to progress from US$152.94 bn in 2014 to US$233.13 bn by 2021.
Automotive Segment to Register Maximum Demand for Embedded Systems
The increasing demand for processors with embedded graphics and multi-core technologies is set to boost the global embedded system market in the next few years. However, design restraints on real-time embedded systems are expected to hamper the growth of the global embedded system market throughout the forecast period. The constant evaluation of the Internet of Things (IoT) will create growth opportunities in the global embedded system market.
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The global embedded system market is segmented on the basis of application, geography, type, functionality, and microcontroller. Based on functionality, the global embedded system market is classified into real-time, standalone, mobile, and networked. In 2014, the global embedded system market was dominated by the real-time segment. Automotive, healthcare, consumer electronics, telecommunications, industrial, aerospace and defense, and others are some of the applications of embedded systems. In 2014, the global embedded system market was dominated by the automotive segment, which accounted for 18% of the market.
North America to Lead Global Embedded Systems Market
Based on geography, the global embedded system market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, the global embedded system market was dominated by North America, with a share of more than 36%. Some of the prominent players operating in the global embedded system market are Atmel Corporation (U.S.), HCL Technologies, Ltd. (India), Infosys, Ltd. (India), Microsoft Corporation (U.S.), Renesas Electronics Corporation (Japan), Texas Instruments, Inc. (U.S.), Freescale Semiconductor, Inc. (U.S.), Intel Corporation (U.S.), Infineon Technologies AG (Germany), and NXP Semiconductors (Netherlands).