Market Synopsis of Embedded Software Market
Embedded software is the special programming done on a chip in an embedded device to control its functions. The global market for embedded software will be driven by the steady growth of consumer electronic devices and the increased investments in the automation technologies adopted by the manufacturing sector. The market is also driven by the increasing demand for multimedia products and portable computing devices such as laptops. The rise in machine to machine (M2M) communication is leading to a parallel growth in demand of machine to machine embedded software. The Internet of Things (IoT) is an important driver, as all connected things contain embedded software. Increased adoption of embedded software in semiconductor industry is also driving the growth of this market. Increasing demand for smart electricity meters is anticipated to boost the Embedded Software Market over the forecast period. The requirement for smart meters is expected to grow with the introduction of energy efficiency policies. The market is expected to grow substantially with the rising trend of wireless technology across various industry verticals such as healthcare and automotive among others.
The global embedded software market is expected to grow from US ~$10 Billion in 2016 to US~$ 19 Billion by 2022, at an estimated CAGR of ~9%. The growth of this market can be constrained by the increased safety and security concerns along with the real time constraints. Embedded software possesses memory and processing constraints because of limited computing capabilities of devices. Design constraints pertaining to real time embedded system are also hindering the progress of embedded software market.
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The prominent players in the market of Embedded software market are – Enea Software AB ( Sweden), Green Hills Software (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation(U.S.), Advantech Industrial Computing India Pvt. Ltd (Taiwan), Emerson Network Power(U.S.), Microchip Technology Inc. (U.S.), Mitsubishi Electric Corporation(Japan) and STMicroelectronics(Switzerland) among others.
The Global Embedded software market has been segmented on the basis of programming languages and applications. Programming language consists of C, C++, Assembly Language, Java, .Net and others. The applications can be segmented as Consumer Electronics, Healthcare, Automotive and Radio & Satellite Devices among others.
The regional analysis of embedded software market is being studied for regions such as Asia pacific, North America, Europe and rest of the world. North America is leading the market of embedded software. Growth in the Internet of things (IOT) in nations such as US and Canada are supporting the embedded software market. Europe has countries like Germany, France, and Italy which are under umbrella of developed countries and have huge consumption rate for embedded software in consumer electronics. The growth of information and communication technology in the automotive sector is also expected to drive the growth of embedded software market in Europe region. Asia-Pacific has emerged as fastest growing market for the embedded software market. As most of the countries in the Asia-Pacific region are under developing phase such as China and India, demand for the electronic products are rising which is leading the growth of this region for embedded software.
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- Software providers
- System integrators
- IT service providers
- Automobile manufacturers
- Third party suppliers
- Hardware manufacturer
- End users
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