The COVID-19 pandemic disruption is estimated to transform the Embedded Technology Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead.
The COVID-19 pandemic disruption is estimated to transform the Embedded Technology Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Embedded Technology Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
Embedded systems are combination of software and hardware run by a program or to perform set of functions within the devices or systems. Technological advancements and price drop in semiconductors are drivers of the global embedded system market. Assistance, control, and monitoring of operations of devices and machinery are applications of embedded systems. These systems enhance productivity. It aids in performance of task in short span with elated overall quality of device or equipment. Improved sales figure of media devices, such as smartphones, laptops, desktops, communications systems, and others is another major booster for the embedded systems market.
The awaited launch of 5G can bolster the embedded system market expansion. On the other side, the prices fluctuations of semiconductors can hinder the expansion of the embedded system market. Intervention of internet of things and artificial intelligence are causing disruption in embedded systems, which can favor their market as convenience remains top parameter to decide on purchase, for end-users. Smart city plans and initiatives by governments, across the globe, and especially in APAC are likely to encourage the growth of the market.
Market Research Future (MRFR), a market research firm growing expeditiously, studied the global embedded systems market deploying modern, fail-safe methodologies. MRFR findings state that the global market of embedded system is expected to surge at 5.8% CAGR and value at USD 291.25 Bn by 2025. MRFR studied the worldwide embedded system market by microcontroller performance, functionality, type, and application. Hardware and software are major types of embedded systems. However, based on microcontroller performance, embedded system can be categorized as medium-scale embedded systems, small-scale embedded systems, and large-scale embedded systems. By functionality, the market has been segmented into stand-alone embedded systems, real-time embedded systems, mobile embedded systems, and networked embedded systems. The choice of embedded systems by enterprises depends on the intended work. Embedded system are applied across industries, such as telecommunication, automotive, industrial, healthcare, military & aerospace, consumer electronics, and others
Drivers and Constraints Impacting the Market
With a significant boom in the number of mobile users coupled with its penetration into the metropolitan population across emerging and developed countries, the global embedded technology system market is considered to flourish. The augmenting demand from the telecommunication and automotive sector, where software is considered to play a crucial role, is considered to stimulate the market growth during the assessment period. In several economies, consistent importance has been provided to develop the infrastructure of wireless communication owing to the accelerating number of users for smartphones and tablets, which require internet connectivity. This further contributes to the market growth to a great extent. Moreover, the high adoption of cloud computing and increasing application areas are influencing the market growth to a great extent. With every technological advancement inside airplanes and automobiles, the need for and cloud computing and embedded technology is likely to grow. Engineers are thus adopting new-generation tools that help to automate the verification and generation of safe and robust system architectures. Also, the rising implementation of embedded technology in order to minimize the operational cost is considered to contribute to the market growth.
On the flip side, technical complexity coupled with incompetence is some of the major concerns considered to impede the market growth to a great extent. Moreover, the high cost of software and hardware are anticipated to dampen the market growth during the appraisal period.
Global Embedded Technology Market: Segmental Analysis
The global embedded technology market has been segmented on the basis of platforms, hardware, software, and application.
By mode of platforms, the global embedded technology market has been segmented into the web, mobile, cloud & on-premise.
By mode of hardware, the global embedded technology market has been segmented into microcontrollers and microprocessors digital signal processors, processor IP, FPGA, and ASIC.
By mode of application, the global embedded technology market has been segmented into consumer electronics, automotive, telecommunication, aerospace & defense, and healthcare. Among these, the automotive segment is likely to generate the highest revenue owing to the rising demand for high electronic content in the automotive and hybrid electric vehicles.
Geographically, the embedded technology market span across regions namely, America, Asia Pacific, Europe, and the Middle East & Africa.
Among all the regions, the Asia Pacific region is considered to dominate the global embedded technology market owing to the rising consumer electronics market in this region. Burgeoning sectors like telecommunication and automotive in regions such as India and China are fueling the market growth in this region. Moreover, major market players in Japan and China are highly investing in the development of technologies, which is further likely to drive the market growth in this region.
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Global Embedded Systems Market Research Report—Forecast till 2025
Release ID: 88965655