Global demand for embedded computing hardware and software to hit $225.34 billion by 2021
SARASOTA, Fla. –Global demand for embedded computing technology will grow by nearly 42 percent over the next five years, increasing from $159 billion in 2015 to $225.34 billion by 2017, predict analysts at market researcher Zion Research in Sarasota, Fla.
This anticipated increase represents a 6 percent combined annual growth rate (CAGR) during the period, analysts say. The report, Embedded Systems Market, covers embedded hardware and software for defense, aerospace, industrial automation, automotive, telecommunications, health care, and consumer electronics.
Embedded systems represent a combination of computer hardware and software fixed in capability or programmable and specifically designed for a particular function.
Strong demands for smarter and power efficient electronic devices will drive the global embedded system market over at least the next five years, analysts say. Growing application of embedded systems in the automobile industry, upward demand for embedded systems with multi-core technologies, and embedded graphics is expected to support the embedded systems market growth in the near future.
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Security concerns related to these systems, however, may curb the demand for embedded systems within the forecast period. Nonetheless, rising penetration of robotics are expected open new avenues for the market growth over the next few years, analysts say.
Embedded hardware was the largest segment in embedded system market in 2015, and accounted for more than 90 percent share of the total market. This segment is expected to continue its dominance in global market throughout the forecast period.
The embedded systems market is segmented by microcontrollers such as small-scale embedded systems, medium-scale embedded systems, and large-scale embedded systems. The medium scale embedded systems segment dominated the market with largest share of the total market in 2015.
In 2015 the automotive sector led the embedded system market, accounting for more than 17 percent market share, followed by consumer electronics and health care. Automotive is expected to continue its dominance in global market over the forecast period due to increasing penetration of electric vehicles (EV) and hybrid electric vehicles (HEV).
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Geographically, the embedded computing market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Demand for embedded system has been highest in North America due to the high demand for superior quality embedded software. In revenue, Asia Pacific acquired the second largest share of the market globally in 2015. Asia Pacific expected to be the fastest growing region due to the existence of fabrication plants in this region.
Key players in the embedded systems market include Intel Corp., Samsung Electronics Corp., Atmel Corp., Freescale Semiconductor Inc. Infineon Technologies, Renesas Electronics, Microsoft Corp., Texas Instruments Inc., NXP Semiconductors, and HCL Technologies Ltd., analysts say.
More information on this market is online at www.marketresearchstore.com/report/embedded-systems-market-z60569.
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