Deerfield Beach, FL -- (SBWIRE) -- 12/15/2017 -- According to the report, global demand for embedded systems market was valued at USD 159.00 billion in 2015 and is expected to generate revenue of USD 225.34 billion by end of 2021, growing at a CAGR of slightly above 6.00% between 2016 and 2021.
An embedded system is a computer system with a dedicated function within a larger mechanical or electrical system and designed typically for meeting real-time constraints. Also, an embedded system is some combination of computer hardware and software fixed in capability or programmable, that is specifically designed for a particular function. Industrial machines, automobiles, medical equipment, cameras, household appliances, airplanes, vending machines, toys and other are the uses of an embedded system. Moreover, an embedded system is a dedicated computer-based system for an application or products. It may be a part of the large system. Its software usually embeds into a ROM or flash.
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Rising demand for smarter and power-efficient electronic devices is expected to be the major drivers for the global embedded system market. In addition, growing application of embedded systems in the automobile industry, rising demand for embedded systems with multi-core technologies and embedded graphics is expected to trigger the growth of this industry in the coming years. The demand for smart meters is predicted to grow during the forecast period, on account of energy efficiency initiatives on a global level, thus giving drives demand for embedded systems. However, security concerns related to these systems may pose the challenge to telecom embedded system market.
Based on product type, embedded system market share has been segmented into embedded hardware and embedded software. Embedded system market was dominated by embedded hardware segment which accounted for more than 90% share of the overall market. Further, it is expected to continue its dominance in the global market over the estimated period. The embedded software was a second largest market segment in 2015. This segment is expected to exhibit moderate growth over the forecast period due to a strong need for better quality of embedded software controllers by safety-critical end-use industries such as healthcare and defense.
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Embedded system market can be segmented based on microcontroller into small-scale embedded systems, medium scale embedded systems, and large-scale embedded systems. This market is dominated by medium scale embedded systems segment and accounted for over 48% share of the total market in 2015. Furthermore, the microcontrollers used in medium scale embedded systems help to reduce size, cost and power consumption of the systems.
The embedded system market size is segmented into applications such as healthcare, industrial, automotive, telecommunication, consumer electronics, defense, aerospace, and others. Automotive application dominated the market with over 17% of the total embedded system market share in 2015. It is expected to continue its dominance in the global market over the forecast period due to increasing penetration of electric vehicles (EV) and hybrid electric vehicles (HEV). Growing demand from another application segment such as consumer electronics and healthcare is also expected to support market growth in the coming years.
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North America acquired the majority of share for embedded system market due to the demand for superior quality embedded software. Also, in terms of revenue, Asia Pacific acquired the second largest share of the market globally in 2015. The Asia Pacific was expected to be the fastest growing region due to the existence of fabrication plants in this region.
Some of the key players in embedded system market include Intel Corporation, Samsung Electronics Corporation, Atmel Corporation, Freescale Semiconductor, Inc. Infineon Technologies, Renesas Electronics, Microsoft Corporation, Texas Instruments, Inc., NXP Semiconductors and HCL Technologies, Ltd.
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