Embedded Systems Market
Growth Factors of Embedded Systems Market
The embedded systems market size was valued at USD 94.77 billion in 2022, and the market is now projected to grow from USD 100.04 billion in 2023 to USD 161.86 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period of 2023-2030.
The COVID-19 pandemic has significantly affected the embedded systems market growth. The pandemic has disrupted the manufacturing of embedded components and affected organizations that are utilizing these products. The lockdown and trade restrictions during the pandemic had decreased demand for semiconductor products. However, the healthcare sector has amplified demand for embedded hardware components in ventilators and advanced medical equipment, which positively affected the market expansion. Hence, the pandemic has overall hindered
The embedded systems market share globally has increased because of escalating demand for electric and hybrid vehicles. The rising popularity of these vehicles is fueling the demand for embedded solutions. These systems are an essential part in EVs that can manage tasks, such as motor control, battery regulation, and performance monitoring, and deliver driver information. The growing classiness of these vehicles intensified the complexity of the required embedded solutions.
The trend is increasing the need for seamless connectivity to increase demand for wireless embedded solutions. The objective behind developing wireless embedded software solutions is to ensure the unspoiled transmission and reception of information. They are favorable where physical connections are unfeasible. It is making them necessary for Internet of Things (IoT) peripheral devices and interconnected systems.
Comprehensive Analysis of Embedded Systems Market
The embedded systems market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a complete regional assessment considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by types of component, type, and application. The component includes hardware and software. The type is such as standalone embedded systems, real-time embedded systems, network embedded systems, and mobile embedded systems. The applications involve medical equipment, consumer electronics, industrial automation, aerospace & defense technologies, automotive systems, telecommunications, smart devices, and others.
The North American region is conducive to the global embedded systems market, leading to a recall of USD 39.06 billion because of the growing focus on cutting-edge technologies and integration of embedded solutions in diverse sectors fueling the demand for the product.
The top players in the market play a vital role in the information & communication technology industry assuring industrial prospectus growth and setting market values. These players include Renesas Electronics (Japan), STMicroelectronics N.V. (Switzerland), Infineon Technologies (Germany), Texas Instruments Inc. (U.S.), Qualcomm Incorporated (U.S.), Microchip Technology Inc. (U.S.), Analog Devices Inc. (U.S.), NXP Semiconductors (Netherlands), Intel Corporation (U.S.), and Advanced Micro Devices, Inc. (U.S.), these market players present a level-playing competitive landscape.
In October 2023, Renesas Electronics Corporation announced partnership with EdgeCortix. The aim of this partnership is to accelerate the development of AI/ML technologies and to help clients compile their AI code effortlessly.
Segmentation Table
Global Embedded Systems Market Scope
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 7.1% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Component
Hardware
Software
By Type
Standalone Embedded Systems
Real-Time Embedded Systems
Network Embedded Systems
Mobile Embedded Systems
By Application
Consumer Electronics
Medical Equipment
Industrial Automation
Automotive Systems
Aerospace & Defense Technologies
Telecommunications
Smart Devices
Others
By Region
North America (By Component, By Type, By Application, and By Country)
- U.S. (By Type)
- Canada (By Type)
- Mexico (By Type)
South America (By Component, By Type, By Application, and By Country)
- Brazil (By Type)
- Argentina (By Type)
- Rest of South America
Europe (By Component, By Type, By Application, and By Country)
- U.K. (By Type)
- Germany (By Type)
- France (By Type)
- Italy (By Type)
- Spain (By Type)
- Russia (By Type)
- Benelux (By Type)
- Nordics (By Type)
- Rest of Europe
Middle East & Africa (By Component, By Type, By Application, and By Country)
- Turkey (By Type)
- Israel (By Type)
- GCC (By Type)
- North Africa (By Type)
- South Africa (By Type)
- Rest of Middle East & Africa
Asia Pacific (By Component, By Type, By Application, and By Country)
- China (By Type)
- Japan (By Type)
- India (By Type)
- South Korea (By Type)
- ASEAN (By Type)
- Oceania (By Type)
- Rest of Asia Pacific
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