Embedded System Market Is Projected To Be Around $254.87 Billion By 2022
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A research study titled, “Embedded System Market by Application and Product - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Embedded System Market is projected to be around $254.87 billion by 2022.
The global Embedded System market was worth USD 132.50 billion in the year of 2012 and is expected to reach approximately USD 254.87 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 6.06% during the forecast period. An embedded system is a computer system with a dedicated capacity inside a bigger electrical or mechanical system, usually with computing constraints on real-time basis. It is embedded as a major aspect of a complete device commonly including equipment and mechanical components. Embedded systems manage numerous gadgets in common utilization today. 98 percent of all microchips are made as segments of embedded systems. Cases of properties of typical embedded computers when compared to general-purpose counterparts are rugged operating ranges, low power consumption, small size, and low per-unit cost. This comes at the cost of constrained preparing assets, which make them essentially harder to program and to associate with.
Rising demand for devices, for example, smart electricity meters are anticipated to boost the global market over the estimate time frame. Improvements in technology, and in addition, decline in prices of microcontroller units, are anticipated to positively influence the market over the figure time frame. Embedded systems are utilized as a part of several end user industries; therefore, expanding demand from application ranges, for example, consumer electronics and healthcare is required to boost market growth throughout the upcoming years.
On the basis of application the Embedded System market is segmented into Consumer Electronics, Automotive, Military and Aerospace, Telecommunication, Healthcare and Industrial. On the basis of product the market is segmented into embedded software and embedded Hardware. The key players in the market are Samsung Electronics Co Ltd, Qualcomm, Intel Corporation, Renesas Electronics, Freescale Semiconductor Private Limited and Atmel.
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Key findings of the Embedded System market
- Embedded hardware is anticipated to continue dominating the product section and represented a share of 93.8 percent of the overall market in 2013. It incorporates microcontrollers, Digital Signal Processors (DSP) and microprocessors.
- Automotive is anticipated to continue dominating the overall market; the section represented a share of 20.8 percent in 2013 of the overall market which can be credited to the high electronic content in automotive coupled with developing focus on Hybrid Electric Vehicles (HEV) for energy adaptability.
- In 2013, North America represented a share of 34 percent of the overall market and is foreseen to remain the biggest regional market in the upcoming years. The Asia Pacific market is marked by the existence of semiconductor fabrication plants like Taiwan Semiconductor Manufacturing Company (TMSC), the area also consists of a considerable number of experts.