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Embedded System Market - By Component (Hardware, Software), By Function, By Application (Automotive, Consumer Electronics, Manufacturing, Retail, Media & Entertainment, Military & Defense, Telecom) & Global Forecast, 2023-2032
- Report ID: GMI117
- Published Date: Jan 2023
- Report Format: PDF
Embedded System Market Size
Embedded System Market size was worth more than USD 140 billion in 2022 and is projected to witness over 6% CAGR from 2023-2032. Rising sales of smart devices and wearables and a steady increase in use of automated solutions in the industrial sector will accelerate industry growth over the forecast period.
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The use of smart devices like smart power meters has elevated across industrial settings. Embedded systems are finding key applications in automobiles, household appliances, medical equipment, interactive kiosks, and other end-user devices.
Consistent advancements in laptops, smartphones, communications systems, and electric vehicles would boost the requirement for embedded systems in the years to come. For instance, in 2021, the Government of India announced that it plans to increase EV sales for private cars by 30% by 2030 due to an immediate need to decarbonize the transport sector. Proliferation of technologies like machine learning (ML) and artificial intelligence (AI) should fuel the need for more complex embedded systems over the estimated timeframe.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Embedded System Market Size in 2022: | USD 140 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6 % |
| 2032 Value Projection: | USD 250 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 310 |
| Tables, Charts & Figures: | 325 |
| Segments covered: | Component, Function, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Excessive energy consumption of compact embedded systems may impede product adoption to some extent. A number of industry players are working on creating energy-efficient embedded systems to facilitate its integration in a variety of industrial applications. Companies are also looking to offer cost-effective embedded system to promote product sales. Ongoing research and development (R&D) activities to introduce smarter and energy-efficient electronic gadgets will help eliminate the challenges impacting the growth of embedded system market.
Embedded System Market Analysis
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Embedded system market from mobile system segment is expected to reach over USD 35 billion by 2032. Smartphones, digital cameras, mp3 players, and personal digital assistants are some of the many mobile devices that rely on embedded systems. Mounting sales of smartphones worldwide would majorly duel the demand for compact and advanced embedded systems. According to the China Academy of Information and Communications (CAICT), in January 2022, China shipped around 32.7 million smartphones domestically, indicating a 29.6% increase year-on-year. Shortage of semiconductor chips and components due to high demand could however impact market growth to some extent.
Embedded system market size from microprocessor component segment is anticipated to record a 3% CAGR between the forecast years 2023 to 2032. The sales of smart gadgets such as digital cameras, televisions, and wearable devices have elevated drastically in recent years, compelling the requirement for microprocessors. The incorporation of advanced features such as touchscreen displays, high-speed internet connectivity, and better GPU would call for a large number of integrated circuits (ICs).
New investments by governments worldwide to expand the consumer electronics sector will open new avenues for embedded system manufacturers. For instance, in July 2021, the Government of France announced its electronics strategy under which the country will inject more than €5 billion into the development and industrialization of electronic technologies.
Embedded system market from manufacturing application is anticipated to hold over 10% share by 2032. Manufacturing sector is steadily shifting to automated solutions to reduce energy consumption, resource, and labor waste. Embedded solutions function as programmable operating systems in manufacturing activities for performing a variety of tasks such as regulating temperature, operating motors, networking hardware, and managing the speed of the assembly line. They are used to control, monitor, and facilitate the functioning of machinery, equipment, and factories.
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Asia Pacific region held a 25% share of the global embedded system market in 2022. Rising per capita income, and widespread industrialization and urbanization are some of the key drivers of the regional market. The availability of affordable electronic components has favored the wide-scale utilization of microprocessors and microcontrollers in various end-user applications such as consumer electronics and automobiles. The increasing use of robots in manufacturing plants and the steady adoption of embedded vision systems are expected to enhance the growth prospects of market across APAC.
Embedded System Market Share
Some of the leading players in the global embedded system market include
- Infineon Technologies
- Analog Devices
- Intel Corporation
- NXP Semiconductors
- On Semiconductor
- Renesas
- Qualcomm
- Samsung Electronics
- Texas Instruments
- Toshiba Corporation
- STMicroelectronics
These companies are focusing on expanding production and distribution of embedded systems and components across international borders. For instance, in February 2022, Curtiss-Wright’s Defense Solutions announced its partnership with Northrop Grumman to bring Real-time Virtualization And Modernized Protection (ReVAMP) technology to the embedded avionics sector.
Impact of COVID-19 Pandemic
COVID-19 pandemic led to temporary halt of production and distribution activities in the consumer electronics sector. The automotive industry was also heavy impacted by the pandemic due to large-scale shortage of semiconductor chips and embedded systems. This led to a delay in delivery of vehicles, subsequently impacting the revenue share of the automotive sector. However, robust demand for medical equipment in the healthcare domain sustained the embedded system industry during the pandemic. Improving economic conditions and resumption of manufacturing activities worldwide should complement the embedded systems industry over the forecast period.
The embedded system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Component:
- Hardware
- ASIC & ASSP
- Microcontroller
- Microprocessor
- Power Management Integrated Circuit (PMIC)
- Field Processing Gate Arrays (FPGA)
- Digital Signal Processor
- Memory
- Software
- OS
- Middleware
By Function:
- Standalone system
- Real-time system
- Network system
- Mobile system
By Application:
- Automotive
- Consumer electronics
- Manufacturing
- Retail
- Media & entertainment
- Military & defense
- Telecom
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- MEA
- GCC
- South Africa
Frequently Asked Questions (FAQ) :
Embedded System Market Scope
