Embedded System Market Predicted to Garner USD 173.4 Billion by 2032, At CAGR 6.8%


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New York, March 08, 2023 (GLOBE NEWSWIRE) — The global embedded System market size was USD 91.3 billion in 2022. The embedded system market is set for explosive growth, To reach around USD 173.4 billion by 2032, growing at 6.8% CAGR during the forecast period 2023 to 2032. An embedded system is a combination of hardware and software designed to perform a particular function. Systems can have programmable or fixed functions. Embedded systems can function within larger systems. Industrial machinery, consumer electronics, agricultural and process industrial equipment, automobiles, and mobile devices are potential candidates for embedded systems.

global embedded systems market

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Key Takeaway:

  • By component, in 2022, the Hardware Segment segment has generated the highest revenue share.
  • By application, the communication segment has dominated the market and it is expected to grow at the highest CAGR over the forecast period 2023 to 2032.
  • In 2022, North America dominated the market with the highest revenue share of 34%.
  • Asia Pacific has held a 26% revenue share in 2022.

The embedded systems market will gain momentum as a result of global efforts to improve energy efficiency, which will drive up demand for smart meters over the forecast period.

Technological advancements and a decrease in the cost of microcontroller units are also anticipated to benefit the market during the forecast period. Embedded systems are used in many end-user industries with rising demand from healthcare and consumer electronics areas is expected to help the embedded system market growth.

Factors affecting the growth of the Embedded Systems Market

There are several factors that can affect the growth of the embedded systems market industry. Some of these factors include:

  • Increasing application of advanced technology: The growing demand for multi-core embedded systems is promoting the application of virtualization technology in embedded systems
  • Competitive Market: Manufacturers are integrating more processors and microcontrollers into their products to add more features due to intense competition in the consumer electronics market.
  • Increased Demand For Smart Electricity Meters: Demand for products like smart power meters is increasing, which will likely drive the global market
  • Increase in Automation Activities: Automation applications are changing many industries, from manufacturing to the automotive sector. As embedded systems allow devices to be small and agile while still being able to move quickly, they are widely used in automation.
  • Demand for ADAS and hybrid vehicles: Embedded technology restructures the automotive industry These systems are used in ADAS technology incorporated in electric and hybrid vehicles.

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Top Trends in Global Embedded Systems Market

Standalone embedded systems can be used to maximize power efficiency, optimize performance, and manage operations in harsh environments. Small-scale embedded systems, in general, are small circuit boards that include a microprocessor and memory as well as a power supply. They also have external interfaces to communicate with other parts of larger systems.

Embedded technology restructures the automotive industry. These systems are used by ADAS technology in hybrid and electric vehicles. The market for embedded systems is growing because of the increased demand for hybrid and electric cars. This aspect is driving the market for embedded systems to expand significantly.

The Embedded systems market will be able to absorb the growing demand for wearable devices as well as the increasing need for optical sensors for medical applications. The market for embedded systems will grow faster due to the increasing adoption of robotics and industrial automation.

Market Growth

The increasing level of disposable income and rising urbanization will drive market value growth. The market’s growth rate will also be affected by the increasing adoption of the internet of things as well as artificial intelligence. Automation applications are changing many industries, from manufacturing to the automotive sector. As embedded systems allow devices to be small and agile while still being able to move quickly, they are widely used in automation.

Embedded processors are experiencing remarkable growth with their widespread use in devices. Device makers are integrating more processors and microcontrollers into their products to add more features and compete in a competitive market.

Regional Analysis

North America dominates the embedded systems market with a market share of 34% and will continue to lead during the forecast period. This is due to increased demand for connected and smart devices and various manufacturers in the region.

The Asia-Pacific market is going to witness significant growth during the forecast period. Increasing per capita income and ongoing massive industrialization and urbanization are the factors driving the market growth in the Asia Pacific (APAC) region.

The Europe region is expected to follow the Asia-Pacific and North America regions during the forecast period. Europe could soon capture a large market share in embedded systems. The steady growth in this region is due to the rapidly developing automotive sector in the region increasingly using embedded systems.

Competitive Landscape

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. the global embedded systems market is classified due to the diversity of manufacturers, designers, integrators, service providers, and software developers. Furthermore, businesses in the embedded system market are developing new products and portfolio expansion strategies through investments and mergers, and acquisitions. Key players in the embedded systems market include advanced micro devices, inc., microchip technology inc., renesas electronics corporation, and texas instruments incorporated.

Scope of the Report

Report Attribute Details
Market Value (2022) USD 91.3 billion
Market Size (2032) USD 173.4 billion
CAGR (from 2023 to 2032) 6.8%
North America Revenue Share 34%
Asia Pacific Revenue Share 26%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The global embedded system market is expected to drive increasing demand for smart power meters. These gadgets use embedded systems to provide the desired functionality. The rising demand for smartphones and desktops, communication systems, as well as other devices, are some of the key factors driving the market growth.

Automation applications are transforming industries from manufacturing to automotive. Embedded systems are widely used in automation as they allow devices to be smaller, more agile, and faster. Embedded network systems can be very complex with complex user interfaces. Embedded systems are used in many end-user industries with rising demand from healthcare and consumer electronics areas. This is expected to help the embedded system market grow.

Market Restraints

The IoT microcontroller market is on the rise due to its various applications. There are however some obstacles that hinder the demand for IoT controllers. IoT microcontrollers can be difficult to produce due to their complexity and power-critical design. Manufacturers are investing significant amounts in R&D in order to create cutting-edge microcontrollers.

Market Opportunities

Manufacturing industries are adopting automated solutions to reduce energy consumption, wasted resources, and labor. Embedded systems market solutions act as programmable operating systems in manufacturing activities, performing a variety of tasks such as temperature control, motor operation, network hardware, and assembly line speed control. They are used to monitor and facilitate the functions of machines, equipment, and factories. This factor will create new opportunities for this market.

The embedded systems industry could benefit from the introduction of 5G technology. With 5G integrated into the system, embedded devices used in intelligent in-vehicle video surveillance systems offer fast response times. Increased strategic cooperation and emerging new markets act as market drivers with increasing lucrative opportunities for market growth rates.

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Report Segmentation of the Embedded Systems Market

Component Insight

Based on components, the hardware segment dominated the Embedded systems market. In the hardware segment, the microcontroller captured the highest market share. Growth in this segment is driven by the continued use of microcontrollers in implantable medical devices, automotive engines, and others. With Increasing Automation in every industry the requirement for microcontrollers is increasing with it.  A number of verticals adapting the LoT helped the growth of secured applications and less energy-consuming devices.

The software segment in embedded systems is used to control specific, limited functions of hardware devices and usually does not require input. Its functionality is operated by another control, either by external action on the device itself or by remote input. The device can have communication links to other devices for advantage or in a case needs to customize the device. The software segment is expected to grow at an exponential growth rate with the increasing demand for software applications for the growing hardware segment.

Application Insight

Based on application, the communications segment is a big part of the embedded microprocessor. This segment includes microprocessors used in communication and signaling systems such as mobile phones, routers, modems, and other network devices. Communication and signaling occupy a high Embedded systems market share due to the increasing adoption of 5G technology.

The consumer electronics segment is anticipated to grow strongly as the increasing adoption of smart devices and the Internet drives the growth. Additionally, the growing trend of smartwatches, smart home devices, voice assistants, and the increasing popularity of smart speakers are contributing to the growth of this segment.

In automotive systems, more and more devices are changing from mechanical to electronic. Embedded systems are the heart of vehicle electronic systems due to their versatility and flexibility. The electronics revolution has manipulated automobile design, including fuel combustion, and powertrain crash protection.

The embedded system is used in almost every type of medical device and various biomedical sensors. In biomedical applications, embedded systems allow physicians to distantly monitor patients’ health and make diagnostic and treatment decisions through telemedicine and other remote systems.

Recent Development of the Embedded systems Market

  • In September 2022, Marvell announced LiquidSecurity 2 (LS2) hardware cryptographic module (HSM) adapters for general use and payment transaction. It is based on the company’s technology and is used in prime hyper-scale clouds. The HSM adapter not only offers powerful and powerful cryptographic acceleration and sorting, but also a hardware-protected collection of up to millions of AES, RSA, and ECC encryption keys for these applications that provides 45 partitions.
  • In May 2022, Broadcom acquired VMware for about $61 billion. As a branch of Broadcom, VMware is expected to provide enterprise customers with more choice and variability to meet their most complicated IT infrastructure challenges. This accelerates Broadcom’s

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Market Segmentation

By Component

  • Hardware
  • Operating Systems
  • Middleware

By Application

  • Automotive
  • Healthcare
  • industrial
  • Consumer Electronics
  • Communication
  • Aerospace and defense

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Players:

  • Intel Corporation
  • Texas Instruments Corporation
  • Infineon Technologies AG
  • NXP Semiconductors
  • Microsoft
  • Renesas Electronics Corporation
  • Analog Devices Inc.
  • Kontron AG
  • Advantech Co., Ltd.
  • Microchip Technology Inc.
  • Xilinx, Inc.
  • Broadcom
  • Qualcomm Technologies, Inc.
  • Marvell
  • Other Key Players

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