The COVID-19 pandemic disruption is estimated to transform the Embedded Technology Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Embedded Technology Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
Embedded Technology is an integration of hardware & software designed for a specific function or for specific functions within a larger system. In other words, embedded technology is application specific system serving in various industries such as automotive and telecommunication sectors where software plays an important role hand hence the security for system becomes challenging.
Electrical and electronic circuits and kits are designed to use embedded technology. Also, the computers, tablets, mobile phones, laptops, digital electronic systems, and other electrical and electronic gadgets are designed using embedded technology. With such widened uptake and demand, it is needless to say that the embedded technology market is expanding constantly.
Market Research Future (MRFR), in its recently published research report, asserts that the global embedded technology market is booming and expected to grow exponentially by 2027, registering a striking CAGR throughout the forecast period 2017-2027.
Growing application areas and high adoption of cloud computing are playing a vital role in the growth of the market. With every technology inside automobiles and airplanes evolving dramatically, the need for embedded technology and cloud computing is expected to rise subsequently. Engineers are embracing the new-generation tools that can automate the generation and verification of robust, safe system architectures.
Additional factors substantiating the market growth include the growing implementation of embedded technology to lower the operational cost, and the increasing awareness about the system.
On the other hand, technical complexity and incompetence are some of the factors bottlenecking the market growth. Also, the high cost of hardware and software are expected to impede the market growth of the market.
Global Embedded Technology Market – Segments
The MRFR analysis is segmented into five key dynamics:-
By Platforms : Mobile, Web, On-Cloud and On-Premise.
By Hardware : Processor IP, Microcontrollers & Microprocessors (MCU/MPU), Digital signal processors, Application-specific integrated circuit (ASIC), and Field processing gate arrays (FPGA) among others.
By Software : Operating Systems, Testing software, Open Source Software, and Software Development among others.
By Applications : Automotive, Consumer Electronics, Aerospace & Defence, Telecommunication, and Healthcare among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Embedded Technology Market – Regional Analysis
The Asia Pacific region is dominating the global embedded technology market due to the growing consumer electronics market. Burgeoning sectors such as automotive, and telecommunication, especially in China and India are the key driving forces accounting for the market growth in the region. Also, players located in China and Japan are investing heavily in the development of efficient technologies which in turn, substantiates the market growth in the APAC.
North America region is emerging as a lucrative market for the embedded technology, mushrooming rapidly. The presence of global players which provide a competitive advantage to the U.S. and Canada along with the growing IT industry in these countries are driving the market of embedded technology in North America. Besides, factors such as the augmented demand for new technological solutions and the increasing competition among developers in the region are substantiating the market growth.
Europe is expected to demonstrate steady growth in the market of the embedded technology. Growing defense, automotive and healthcare sectors are leading to the high adoption of on-premises, and on-cloud embedded technology that fosters the market growth in the region.
Global Embedded Technology Market – Competitive Landscape
Characterized by the presence of numerous large and small players, the global market of embedded technology appears to be highly competitive. Well-established players incorporate collaboration, acquisition, partnership, technology launch, and expansion in order to gain a competitive advantage over the other market players. These players strive to provide a combined open source and industry-leading solutions irrespective of the deployment of the technology on- cloud, and on-premises.
Some of the eminent players leading the global embedded technology market are Renesas Electronics Corporation (Japan), Texas Instruments (US), STMicroelectronics (Switzerland), Microsoft Corporation (US), Samsung (South Korea), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Atmel Corporation (US), and Infosys Ltd. (India).
Other Related Market Research Reports:
Global Embedded Systems Market Research Report—Forecast till 2025
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