The use of embedded systems has grown extensively over the last few years, particularly in the automotive industry. Multi-core technology equipment is in high demand across several industry verticals and are highly being appreciated. These type of embedded graphic systems have now turned out to be a backbone of the consumer electronics sector. Manufacturers of embedded technology are also looking forwards to gain from the opportunities arising from the telecommunications, aerospace, defense, and healthcare industries. The competition among the players operating in the market is expected to be relatively high over the coming years owing to the sizeable shares accounted by a few key companies. As a result, most of these manufacturers are catering directly to the consumer electronics sector and are thus completely reliant on the sector’s demand for production rates and profit.
The global embedded systems market is likely to exhibit a 6.4% CAGR between 2015 and 2021. The market is projected to be worth US$233.19 bn by the end of 2021.
How is the automotive sector likely to benefit the market for embedded systems?
The automotive industry has constantly provided the chief demand for embedded systems over the last few years and it is expected to retain a leading position in revenue generation for embedded systems until 2021. By the end of 2021, the revenue for the global embedded systems market from the automotive industry is anticipated to touch US$42.64 bn, due to the wide range of applications in internal systems and modern cars. The demand for consumer electronics is likewise high and is projected to rise significantly in the coming years.
For instance, mechatronics, which has a gamut of industrial applications, has introduced the advanced version of embedded systems known as embedded motion to differentiate its consumer products from their rivals.
What are the problems that the embedded systems market is likely to face in future?
The prime inhibiting factor of the global embedded systems market is the problems in achieving real time high-end calculations with the employment of small embedded systems. The areas where embedded systems need to be small, light, and less power consuming are military equipment, audio electronics, automobiles, and airplanes. This is expected to act as a significant challenge for manufacturers, thus restricting the scope of use.
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On which regions should manufacturers focus to make a profit?
North America is expected to emerge as the key revenue generator for the global embedded systems market by 2021 with a valuation of US$89.87 bn. The demand for embedded systems is anticipated to rise in the region owing to the presence of a large number of key players in the region and high demand for automobiles and consumer electronics. Asia Pacific is also expected to open a plethora of opportunities owing to the mass implementation of advanced embedded systems in South Korea, Taiwan, and China.