Embedded Systems Market Forecast, 2021-2031

PORTLAND, OR, UNITED STATES, August 11, 2023/EINPresswire.com/ -- According to the report published by Allied Market Research, titled, "Embedded Systems Market by Component (Hardware, Software), by Application (Automotive, Consumer Electronics, Industrial, Aerospace and Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031," the global embedded systems industry generated $89.1 billion in 2021, and is estimated to reach $163.2 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031.

The key players profiled in the report include Advantech, Analog Devices, Cypress semiconductors, Infineon Technologies, Intel Corporation, Microchip Technology , NXP Semiconductors, Qualcomm Incorporated, Renesas Electronics, STMicroelectronics and Texas Instruments, Inc. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the global embedded systems market.

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Rise in investment made by government agencies in next-generation electric vehicles (EV) and automotive & defense sectors to drive the growth of embedded systems market. Surge in investment made by prime players in emerging economies to boost the global market trends. Rise in penetration of 5G network across various sectors and increase in use of 5G devices in embedded systems will open new growth avenues for the global market. Growing security concerns related to embedded devices will put brakes on the global market growth.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the embedded systems market size segments, current trends, estimations, and dynamics of the embedded systems market analysis from 2021 to 2031 to identify the prevailing embedded systems market opportunities.
• The embedded systems market outlook is offered along with information related to embedded systems market share key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the embedded systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global embedded systems market trends, key players, market segments, application areas, and market growth strategies.

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The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

The Consumer Electronics Segment to Dominate the Global Market Share in Terms of Revenue

Based on application, the consumer electronics segment held the major market share in 2021, holding nearly two-fifths of the global embedded systems market share, and is expected to maintain its leadership status during the forecast period. The increased demand for consumer electronics devices such smartphones, laptops, handheld gaming consoles, smart TVs, and others running on Android, Linux, and other operating systems is expected to boost the expansion of the embedded system industry during the forecast period. The development of the Internet of Things (IoT), artificial intelligence (AI), and the potential development of emerging economies are further factors contributing to the market expansion making it as a largest segment in embedded systems market.

The Hardware Segment to maintain its Dominance During the Forecast Period

On the basis of component, the hardware segment held the largest market share in 2021, accounting for more than two-third of the global embedded systems market share, and is expected to maintain its leadership status during the forecast period. However, the hardware segment, is expected to cite the highest CAGR of 7.3% during the forecast period. The report also includes segments such as software. Increase in an embedded system in cloud connectivity, improved security tools, real-time visualizations, lower power consumption, and deep learning solutions are some of the key market trends observed during the forecast period.

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Asia-Pacific to Dominate the global Market Growth in 2031

Region-wise, the North American region held the major market share in 2021, grabbing more than two-fifths of the global embedded systems market share. However the Asia-Pacific market is slated to dominate the global market share during the forecast period. The embedded systems market in Asia-Pacific is expected to be largest segment in sectors like automotive, industrial, and others. A developing trend in the area is the "Internet of Cars," which promotes more connectivity using technologically advanced cars which use sophisticated embedded systems.

The rising demand for eco-friendly technologies and vehicle security in nations like India, China, and Japan is attributable to the rising desire for advanced embedded systems Nevertheless, the European region is expected to cite the fastest CAGR of 8.7% during the forecast period. Embedded Systems is anticipated to see a surge in applications such as Internet of Things (IoT), drone deliveries, smart factories, and others, in Europe. Furthermore, smart wearables, embedded OS in automotives and other applications continuously require highly advanced and compact embedded systems which further boosts the demand for embedded systems in the market, Therefore, it is anticipated to be the fastest growing segment during the forecast period. The report also analyses other regions such as LAMEA.   

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Embedded Systems Market Report Highlights

By Application

• Automotive
• Consumer Electronics
• Industrial
• Aerospace and Defense
• Others

By Component

• Hardware

◦ Hardware Type
▪ MPU
▪ MCU
▪ FPGA
▪ Memories
▪ Others

• Software

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