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Embedded System Market Analysis
- Report ID: GMI117
- Published Date: Jan 2023
- Report Format: PDF
Embedded System Market Analysis
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.
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.
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Embedded System Market Scope
