Global embedded system market is projected to be valued at USD 214.39 billion by 2020, as per a new research report by Hexa Research. Rising demand from end-use industries such as automotive and healthcare coupled with emergence of Internet of Things is expected to drive the demand.
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Innovation in wireless technology, wireless communications, digital processing technologies, and software along with embedded systems that efficiently drive the electronic contents within a vehicle have increased significantly in automotive industry. It assists safety systems on the highest priority by monitoring systems such as antilock braking systems, tire inflation, airbag systems, and others such as remote keyless entry and antitheft systems. Security concerns related to these systems is likely to pose challenge to the industry participants.
Embedded hardware generated maximum revenue, valued USD 131.68 billion in 2014. It is expected to witness significant gains, with estimate of USD 199.56 billion at a CAGR of 6.2% from 2014 to 2020. Technological advancement in emerging countries such as Russia, Taiwan, Brazil, India and China is spurring the demand growth during the forecast period. Embedded software was valued at USD 8.64 billion in 2013, and is expected to reach USD 14.84 billion by 2020, growing at an estimated CAGR of over 8.1% over the next few years.
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Key report insights suggest:
– Global embedded system market size was valued USD 140.32 billion in 2013 and is likely to reach USD 214.39 billion by 2020 growing with an estimated CAGR of 6.3% from 2014 to 2020
– Global demand in automotive sector was USD 29.23 billion in 2013 which is expected to reach USD 45.98 billion by 2020, growing at a CAGR of 6.7% from 2014 to 2020. Increasing usage in electric and hybrid vehicles for ensuring emission control is expected to spur the market growth. Healthcare sector is expected to grow at a CAGR of 7.1% over the forecast period. Rising need for portable medical devices in this application is predictable to boost the global growth.
– North America dominated the regional demand with an estimated market share of 34.56% in 2013. Asia Pacific region is expected to be the fastest growing region, growing at a CAGR of 6.7% up to 2020. The region is expected to grow at a higher rate owing to existence of fabrication plants in this region.
– The embedded system industry is moderately competitive, with top four manufacturers accounting for more than 50% of the industry share. Major participants include Freescale Semiconductor, Renesas Electronics, Samsung, Infineon Technologies, Atmel Corporation, STMicroelectronics, Microchip and Texas Instruments.
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