Embedded systems is a field derived through a combined study of software and hardware. Both aspects come together to create a functional targeting device that possesses the advantages of adaptability, speed, accuracy, reliability, power, and smaller size. Embedded systems possess a wide array of utility in the fields of mobile communication, electronic payment solutions, railways, aeronautics, and automobiles. They can be designed for specific applications in each field and can thus fulfil specialized purposes. The key to utilizing embedded systems comes from mitigating real time calculation constraints, which they can perform exceedingly well. Key application segments of the global Embedded Systems Market can be concisely formulated as applications, microcontroller type, and functionality.
The report is a comprehensive analysis of all trends and dynamics that define the global embedded systems market. This includes all key drivers, restraints, and opportunities that players can share in the market over the coming years. These dynamics are correlated to each key trend that is affecting the market today, and has affected it in the recent past. Using these factors, the report gathers a conclusive analysis of the global embedded systems market for the forecast period from 2015 to 2021.
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The global embedded systems market is expected to be valued at US$233.19 bn by the end of 2021. This revenue is projected at a CAGR of 6.4% from 2015 to 2021. The primary factor responsible for the current growth pattern in this market is the fast-increasing number of applications for embedded systems in the automotive industry. Cars and other vehicles manufactured currently are being equipped with technologies that are used to perform a large number of real-time functions. In addition to this, the global embedded systems market is also benefitting from the growing use of multi-core technologies across various industry verticals. The consumer electronics industry is also witnessing an influx of embedded systems, especially in the devices that use embedded graphics systems.
A large number of highly influential trends for embedded systems players are visible in the fields of telecommunications, aerospace, defense, and healthcare. Each of these fields is making greater usage of embedded systems to perform complex functions with high accuracy. The scope of embedded systems grows even further with the inception of the Internet of things concept. The growing need for smart electronics and connected devices across various industries in the world is giving rise to a heavy demand for efficient embedded systems.
The future of the global embedded systems market lies in the low performance controller applications, as well as the creation of low power consumption systems.
Global Embedded Systems Market: Region-wise Outlook:
A large chunk of the total revenue obtained by players in the global embedded systems market is expected to come from North America. This region has consistently remained at the top of the consumption charts for embedded systems and is likely to continue showing a high demand for them. Additionally, North America has had a significant head start in the use of embedded systems and holds the presence of a large number of the globally prominent players.
Asia Pacific is expected to show a meteoric rise in demand for embedded systems in the coming years. This region contains a large number of industries that are rapidly evolving and showing the need for advanced technologies and systems.