The Global embedded systems market is estimated to be valued at US$ 174.24 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the embedded systems market are ABB Ltd, Analog Devices, Cypress Semiconductor, Fujitsu Limited, Infineon Technologies, Intel Corporation, Marvell Technology Group, Microchip Technology.
The emergence of the Internet of Things (IoT) is one of the key opportunities in the Embedded Systems Market Demand. IoT is creating the need for connected devices that require embedded processors and operating systems. With more consumer and industrial devices integrating wireless connectivity and internet capabilities, the demand for high-performance embedded solutions is growing.
North America dominated the global embedded systems market in 2017. However, Asia Pacific is projected to witness the highest growth during the forecast period owing to increasing adoption of embedded systems across industries such as consumer electronics, automotive, healthcare and industrial automation in China, India and other developing countries of Asia Pacific. Key players are expanding their presence in Asia Pacific to tap the growth opportunities offered by the market.
Market drivers
- Increased adoption of IoT across industries is driving the demand for embedded systems as IoT devices require embedded processors, sensors and operating systems.
- Growing automation in manufacturing sector and use of robotics is propelling the embedded systems market growth. Embedded systems find major applications in industrial robots, programmable logic controllers and machine vision systems.
- Rising demand for connected vehicles integrated with advanced driver assistance systems (ADAS) and infotainment systems is boosting the automotive embedded systems market.
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