Embedded System Market worth over $160bn by 2026

Embedded System Market size is set to surpass USD 160 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

The real-time characteristics of embedded systems are gaining lucrative opportunities in the field of robotics for voice control, touch screen applications, and others. The rising adoption of industrial robots due to growing trends of industry 4.0 is projected to create growth opportunities for the embedded system market.

 

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Embedded systems in automobiles are used in a variety of applications such as Antilock Braking System (ABS), airbags, adaptive cruise control, emission control, automatic parking, telematics, entertainment system, etc. The rising trend for safety features among consumers and the deployment of various government regulations for road safety will accelerate the demand for advanced vehicles system, which is projected to drive the embedded system market revenue.
 

In May 2018, the European Commission implemented a proposal that will create a shift in the standard vehicle safety equipment. The proposal includes new accident avoidance systems that involve emergency lane keeping & advanced emergency braking systems and will aid in accident reduction.
 

Adding to this, several OEMs have initiated vehicle safety programs to gain a high market share in the automotive sector. For instance, in July 2018, IC Bus, a subsidiary of Navistar, announced the development of a collision mitigation technology and Electronic Stability Control system (ESC) to be mandatory in its RE & CE series school buses. Therefore, the above growing trends in the automotive sector aid as opportunities for embedded system manufacturers to increase their market share with the proliferation of safety systems in vehicles.
 

U.S. Embedded System Market

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ASIC holds high growth opportunities in automotive applications

The hardware component segment is the dominant segment in the embedded system market. The ASIC & ASSP segment in the hardware segment dominating the market owing to its features to design electronic applications in a single integrated circuit that eliminates the requirement for additional components. ASIC devices are widely used in applications such as automotive, consumer electronics, industrial, healthcare, and telecommunication.
 

However, ASSPs are gaining more advantages from consumer electronics as they offer efficient images with high quality. These devices are also catering to the increasing demand from data center technology and industrial automation. Therefore, companies are coming up with innovations in product offerings to cater the high demand.
 

In November 2019, Renesas Electronics Corporation, a manufacturer of advanced semiconductor solutions, launched ASI4U-V5 ASSP that implements ASi-5 (Actuator Sensor Interface version specification version 5) standard used in industrial network equipment. The new product helps in the integration of fieldbus for developers working with actuators, sensors, and other industrial equipment.
 

Browse key industry insights spread across 250 pages with 277 market data tables and 39  figures & charts from the report, “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, Healthcare, Telecommunication, Industrial, Consumer Electronics, Aerospace & Defense), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/embedded-system-market
 

Mobile system accounts for a profitable market share

The mobile system segment is experiencing a lucrative growth opportunity in the embedded system market and is with its growing implementation in portable embedded devices such as digital cameras, smartphones, personal digital assistance, etc.
 

The rise in demand for smartphones and other portable devices is likely to boost the market for embedded systems. According to CTIA (Cellular Telecommunications and Internet Associations), in the U.S. the number of smartphones active has increased to 31% from 2014 to 2017. This is majorly due to increase in internet usage worldwide and the growing adoption of 5G technology.
 

According to IBEF (Indian Brand Equity Foundation), the growing mobile phone penetration and declining data cost will add approximately 500 million new internet users in India, creating a huge opportunity for the market size.
 

North America consumer electronics segment to offer lucrative opportunity in the embedded system market

The consumer electronics segment dominates the market and accounts for over 15 % share in 2018. This is due to rising penetration of mobile phones and wearable devices globally. This is positively influenced by the rising consumer disposable income and changing lifestyle preferences, increasing the demand for smart electronic devices. The advancement in embedded technology offers energy monitoring and helps in the reduction of energy consumption, which is likely to accelerate the demand in the consumer electronics sector.
 

The deployment of advanced technologies, such as AI and IoT, in smart and connected devices helps consumer electronics companies to boost their market position. This is owing to increasing demand for home automation among consumers to access home appliances with smartphones and tablets. This will further accelerate the demand for embedded systems in the coming years.
 

Furthermore, the rising demand for wearable devices for health monitoring and self-diagnosis in the U.S. is creating lucrative opportunities for consumer electronics, driving the market size. According to the report generated by PLOS, in 2016, the U.S. fitness services sold were 19 million, which increased to 110 million in 2018.
 

Demand for electric vehicles in Asia Pacific to create market opportunities

Asia Pacific is the fastest-growing region in the embedded system market, growing at a CAGR of 8% due to emergence of the automotive sector in China and India. The increasing adoption of real-time systems in various vehicle applications, especially in electric vehicles will drive the regional growth in the automotive sector. China is one of the major producers of electric vehicles worldwide, further contributing to the growth of the industry.
 

In July 2018, Tesla planned to begin a new electric car production plant at Shanghai and will produce around 500,000 cars a year. Adding to this, India is also taking several initiatives for the proliferation of electric vehicles in the country.
 

The key players operating in the embedded system market are Atmel Corporation, Texas Instrument, NXP Semiconductors, Microsoft Corporation, etc. These companies are experiencing highly competitive and thereby need to design more enhanced embedded solutions to improve their position in the market.
 

The rising adoption of real time embedded and industry 4.0 is expected to positively drive the overall market growth. Other than this, the companies are implementing various business strategies such as acquisition and collaboration to gain highly competitive edge.
 

For example, in September 2019, Avnet announced the acquisition of Witekio, engaged in offering embedded systems and software solutions for developers to solve the complexity and technical challenges in the development of IoT solutions. This acquisition will help the company to enhance its expertise for embedded software, security and edge computing mainly from hardware to cloud.
 

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