Global Embedded Systems Market is Estimated to Be Worth $85000 Mn in 2019 and is Projected to Reach $116200 Mn by 2027, at A CAGR of 6% From 2020 To 2027: Proficient Market
Proficient Market unravels its new study titled “Global Embedded Systems Market – Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 – 2027″. Effective exploratory techniques such as qualitative and quantitative analysis have been used to discover accurate data.
According to the report, Global Embedded Systems Market in 2019 stood at USD 85000 million and is expected to reach USD 116200 million by 2027 growing at a CAGR of 6% from 2020 to 2027.
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An embedded system works as the processing core of a large system for performing a specific task and it comprises of a microcontroller or a microprocessor. The grouping of software and hardware within an embedded system creates the functional targeting device which offers several advantages such as adaptability, accuracy, speed, small size, reliability, and power. Embedded systems find a number of applications in a variety of purposes such as railway ticketing, mobile communication, automobile, electronic payments, and aeronautics owing to its ability to work in real time. These systems can be designed and customized based on the needs, the adoptability of the system is increasing and also its demand is rising consequently.
Embedded Systems Market Key Players: The research study includes profiles of leading companies operating in the global embedded systems market. Key players profiled in the report include:
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In February 2017, Visa, a global payment technology company based in the U.S., partnered with IBM Watson to provide the customers of IBM’s Big Blue Watson IoT platform access to Visa services through the card’s tokenization offerings. This new platform will enable Visa to drive the frequency of user payments and assist the company to gain a competitive edge in the market share.
Drivers for the Global Embedded Systems Market: The exponential boom in the amount of the mobile users and its increasing penetration into the metropolitan population across the developed and emerging countries is the key factor that is driving the global embedded system market. In many countries, there is a consistent importance that has been given to developing the infrastructure of the wireless communication due to the rising number of users that uses tablets and smartphones with the prerequisite of internet connectivity. The other factor that contributes to the market growth are the application of embedded computers as backend and network systems in the telecom sector so as to provide superior bandwidth to the customers favors the growth rate of the market.
Opportunities for the Global Embedded Systems Market: Key factors witnessed to fuelling the growth of this market include an increasing in the number of research and development activities related to embedded systems, rising in demand for advanced driver-assistance systems (ADAS) and electromobility solutions for electric vehicles and hybrid vehicles, increasing in demand for portable devices such as wearables, and rising in the use of multicore processors in military applications led to fuelling of this market during forecast period.
Restrains for the Global Embedded Systems Market: Complex designs of embedded systems are hampering the growth of the market. While the high installation, high costs, high setup costs are the major factors creating a negative impact at the growth of this market. Thus all these factors are hampering the growth of the market.
Region Wise, Global Embedded Systems Market Analysis: The global embedded systems market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, North America leads the global embedded systems market share followed by Asia-pacific & Europe. While the North America leads the global embedded systems market due to the due to presence of major companies in the region such as Intel and Microsoft. Moreover, rising adoption of IoT technology in the U.S. and increasing consumer demand for smart & connected devices to reduce human intervention will positively impact the market growth.
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Global Embedded Systems Market: Product analysis
ASIC & ASSP
Power Management Integrated Circuit (PMIC)
Field programmable gate arrays (FPGA)
Digital Signal Processor (DSP)
On the basis of type, Software accounted for largest share of total revenue generated by its wide adoption in the automotive sector, offering a high scale of flexibility & reliability for several vehicle applications. The common operating software used in the embedded system are C, C++, and ADA, while some specialized systems require Windows CE, Linux, Nucleus RTOS, and OSE. Furthermore, the rising demand for enhanced in-vehicle infotainment systems, such as parking assistance, navigation systems, and adaptive cruise control, is expected to drive the embedded systems market revenue.
Global Embedded Systems Market: Application analysis
Media & Entertainment
Military & defense
The demand of Global Embedded Systems Market is highest Automotive from, due to its wide adoption in the automotive sector, offering a high scale of flexibility & reliability for several vehicle applications. The common operating software used in the embedded system are C, C++, and ADA, while some specialized systems require Windows CE, Linux, Nucleus RTOS, and OSE. Furthermore, the rising demand for enhanced in-vehicle infotainment systems, such as parking assistance, navigation systems, and adaptive cruise control, is expected to drive the embedded systems market revenue. The development of these technologies enables manufacturers to stabilize the car in a critical situation and prevent the driver from steering out of control. The demand for infotainment and ADAS systems in vehicles are increasing. Adding to this, the advanced use of embedded systems in vehicles helps in pollution control, accelerating their demand in the global market. Stringent regulations on low carbon emission requirements will further add an advantage for the market growth.
Global Embedded Systems Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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