Computer Engineering Market Size

Computer Engineering Market Size

Computer Engineering Market size was valued at around USD 1,800 billion in 2016 and will grow at a CAGR of around 5% from 2017 to 2024

Growth in the field of internet and cloud computing is a major factor driving the computer engineering market. Increase in usage of electronic products in automotive, industrial, medical, and consumer industries has created a connected landscape for smart devices. Several software applications are being developed by developers to expand the potential of the connected devices. These developments have been fueled by innovations in the software and semiconductor industries. Several manufacturers are combining several components such as ICs, embedded software, custom logic, memory, and processor into a single System-on-Chip (SoC), which is necessitating highly complex chip designs which is a common trend in the industry

Several semiconductor manufacturers are largely adopting the trend of miniaturization by delivering smaller sizes, flexible mounting possibilities, and integrating multiple functionalities into a single set. In some scenarios, this has enabled the semiconductors to be utilized in applications, where they were not used before, such as surgical devices and smart fitness products. The medicine industry is a promising application for the computer engineering market owing to the growing usage of medical implants in advanced medical therapies. These implants are helpful to detect several chronic conditions and can be safely charged, which is opening several new prospects for the segment. In addition, the semiconductor technology is providing healthcare consumers the ability to extend the lifetime of an implant as the battery can be wirelessly recharged, and can eliminate the need for battery in some conditions, thereby driving demand for the computer engineering market.
 

The manufacturing process of electronic devices is a highly complex activity with specific requirements and conditions for manufacturing an equipment. The initial cost of setting up an electronics manufacturing plant is a major factor hindering the growth of the computer engineering market. Moreover, a key challenge in the industry is the availability of counterfeit electronic devices and products. Since the last few years, several lookalike products have been swamping the industry, thereby seizing the industry share of leading vendors.