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Embedded System Market size likely to exceed USD 258 billion by 2023:
Global Market Insights Inc.
Embedded system market size is likely to be valued USD 258.72 billion by 2023, as per a new
research report by Global Market Insights, Inc. Mounting need mainly from application sectors
such as healthcare as well as automotive is expected to drive demand. In addition, emergence
of IoT is anticipated to fuel industry growth.
Embedded hardware system market size was valued USD 154.82 billion in 2015 and is
anticipated to observe significant gains, with USD 240.11 billion at a CAGR of 5.5% from 2016
to 2023. Technological innovation and advancement in emerging nations such as Russia,
India, China, Brazil and Taiwan is likely to spur growth. Embedded software was valued at
USD 10.46 billion in 2015, and is anticipated to attain USD 18.61 billion by 2023, at an
estimated CAGR of over 7.3% over the forecast period.
Technology innovation in wireless communications, software and digital processing is
expected to positively impact embedded system market size. Systems that effectively and
efficiently drive the electronic contents within vehicles have also increased significantly in
automotive sector. This assists safety systems on the highest priority by monitoring
parameters such as tire inflation, antilock braking systems, remote keyless entry, antitheft and
airbag systems. However, security risks related to the systems is anticipated to hinder the
Europe embedded system market size, by application, 2012-2023 (USD Billion)
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Browse key industry insights spread across 110 pages with 32 market data tables & 31 figures
& charts from the report, “Embedded System Market Size By Application (Automotive,
Industrial, Consumer Electronics, Telecommunication, Healthcare, Military &
Aerospace), By Product (Software, Hardware) Industry Outlook Report, Regional
Analysis, Application Development Potential, Price Trends, Competitive Marke t Share
& Forecast, 2016 – 2023” in detail along with the table of contents:
Global embedded system market size was valued USD 165.28 billion in 2015
and is anticipated to attain USD 258.72 billion by 2023 at 5.6% from 2016 t o
Automotive sector valued USD 34.64 billion in 2015 which is likely to a ttain
USD 56.04 billion by 2023, growing at a CAGR of 6% from 2016 to 2023.
Increasing acceptance of hybrid as well as electric vehicles in order to control
emissions is likely to fuel the industry growth. Healthcare sector is likely to grow
at a CAGR of 6.3% over the next few years. Rising need for portable medical
devices in this application is predictable to boost the global growth.
U.S. embedded system market share dominated the regional demand,
accounting for over 30% of total revenue in 2015. Asia Pacific is anticipated to
grow at a CAGR of 6% up to 2023. This can be attributed to the presence of
fabrication plants in the region.
Moderately competitive industry consists of top four manufacturers accounting
for more than 50% of the embedded system market share. Key manufacturers
include Infineon Technologies, Freescale Semiconductor, Atmel Corporation,
Renesas Electronics, Samsung, STMicroelectronics, Texas Instruments and
Microchip among others.
Key insights of Embedded System Market:
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Global Market Insights has segmented the embedded system industry on the basis of product,
application and region:
Global Embedded System Product Analysis (Revenue, USD Billion, 2012 - 2023)
Global Embedded System Application Analysis (Revenue, USD Billion, 2012 - 2023)
Military & Aerospace
Global Embedded System Regional Analysis (Revenue, USD Billion, 2012 - 2023)
Segmentation of Embedded System Market: