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Embedded System Market Size, By Component (Hardware, [ASIC & ASSP, Microcontroller, Microprocessor, Power Management Integrated Circuit (PMIC), Field Programmable Gate Array (FPGA), Digital Signal Processor (DSP), 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), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI117
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

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.
 

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.
 

Increasing sales of smartphone devices to accelerate the need for embedded systems

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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.
 

Rising sales of smart gadgets will accelerate the demand for compact microprocessors

Authors: Preeti Wadhwani, Aayush Jain

Frequently Asked Questions (FAQ) :

Market size for embedded system was worth more than USD 140 billion in 2022 and is projected to witness over 6% CAGR from 2023-2032.
The manufacturing application segment is anticipated to hold over 10% share of the embedded system industry by 2032 driven by the growing use of automated solutions and robots.
Asia Pacific held a 25% share of the global embedded systems industry in 2022 driven by factors like rising per capita income, widespread industrialization, and urbanization.
Some of the leading players in the embedded system include Infineon Technologies, Analog Devices, Intel Corporation, NXP Semiconductors, On Semiconductor, Renesas, and Qualcomm.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 31
  • Tables & Figures: 325
  • Countries covered: 16
  • Pages: 310
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