Embedded Systems Market by Component

PORTLAND, OR, UNITED STATES, June 7, 2023/EINPresswire.com/ -- The embedded systems market research report begins with a comprehensive overview of the sector and provides information on the embedded systems market, covering the period from 2022 to 2031. Its purpose is to assist stakeholders in gaining a thorough understanding of the actual industry landscape. The report includes both quantitative and qualitative analyses, offering valuable insights into various aspects of the market. The key aspects examined in this report are the forecast market statistics, SWOT analysis, embedded systems market scenario, and feasibility study. All the information concerning industry growth is sourced from highly reliable and trusted sources, and extensively verified and validated by prominent market players.

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The global embedded systems market was valued at $89.1 billion in 2021, and is projected to reach $163.2 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031. The global embedded systems market is expected to witness notable growth during the forecast period, owing to an increase in demand for advanced driver-assistance system (ADAS) in electric vehicles (EV)s and hybrid vehicles, rise in in the number of embedded systems-related research and development projects, demand for multicore central processing units (CPUs) in military applications, and rise of 5G and development of 5G based embedded devices.

Embedded Systems Market: Product Type, Frequency, End Use, and Regional Perspectives

The embedded systems market can be viewed from multiple perspectives, including application, component, and region. When considering the application, there are three main categories: automotive, consumer electronics, industrial, aerospace and defense, and others. The consumer electronics segment acquired the largest share in 2021 and is expected to grow at a significant CAGR from 2022 to 2031.

On the basis of component, the market is divided into hardware and software. In 2021, the hardware segment dominated the embedded systems market, in terms of revenue, and is expected to follow the same trend during the forecast period.

Considering the regional aspect, the embedded systems market is divided into four major regions: North America (including the United States, Mexico, and Canada), Europe (including the UK, Spain, France, Netherlands, Italy, Russia, Germany, and the Rest of Europe), South America, Africa and the Middle East (including the UAE, Saudi Arabia, Egypt, Nigeria, and South Africa), and Asia-Pacific (including Japan, China, India, Singapore, Australia, South Korea, and the Rest of Asia-Pacific). Each region has its own dynamics, consumer preferences, and market conditions that impact the gift cards industry.

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Embedded Systems Market: Key Industry Players

The key players profiled in the global embedded systems market analysis are Microchip Technology Inc., Qualcomm Incorporated, NXP Semiconductors, Infineon Technologies, Cypress Semiconductors, Texas Instruments Inc., STMicroelectronics N.V., Renesas Electronics, Intel Corporation, Analog Devices Inc. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

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