Ottawa, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The global embedded computing market size accounted for USD 95.8 billion in 2021. A mix of embedded hardware and software, known as an embedded computer system, is created to carry out a particular, specialized purpose in an electronic device or machine. It can function as a stand-alone system or as a component of a bigger system.
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It carries out tasks such processing sensor inputs, reading sensor outputs, producing & transmitting commands, and information transformation. It is widely employed in a wide range of industries, including consumer electronics, personal care, healthcare, banking, home applications, security, automotive, defense, and smart cards. Due to the potential rise of emerging economies and the development of the Internet of Things (IoT), which is anticipated to present the market with lucrative growth prospects, there is an increase in demand for embedded computing around the globe.
It is used in a variety of applications, including household appliances, traffic light management systems, and digital watches. An embedded computing system is utilized to operate, monitor, or carry out a particular function of electronic equipment utilizing a fixed set of programs, plans, or regulations. It carries out tasks such processing data, reading sensor inputs, displaying necessary output, creating and sending commands, and changing data. It is widely employed in many fields, including telecommunications, consumer electronics, personal, healthcare, banking, home applications, office automation, security, automobile, defense, and smart card industries.
Report Highlights
- On the basis of component, the hardware segment is the leading segment and is expected to make the largest contribution to the embedded computing market. It is linked to an increase in living standards, a rise in technology awareness among the populace, and a rise in the nation's disposable income. Additionally, because of their advancements, greater technological knowledge, and affordable consumer electronics. Moreover, the fourth industrial revolution's technology advancements have caused enormous, previously unheard-of changes in how the world economy operates, giving rise to new, increasingly sophisticated and interactive globalization processes. Instantaneous communication, new products, and production methods have all been made possible by technology. The ability to work from home using online platforms, order restaurant delivery, hire a personal driver, and even arrange massage and housekeeping services online has improved the quality of life for people who have access to these technologies. Hence, technology has been a great player in lifting the standards of people that support the embedded computing devices market. Availability of devices at cheaper price also plays an important role in the market.
- On the basis of application, the highest CAGR is projected for the communication segment during the forecasted period. Due to population growth and the development of the Internet of Things, the communication sector segment relies heavily on embedded computing systems (IoT). The expansion of embedded computing in the communication industry was further aided by the rise in popularity of consumer electronics products including mobile phones, laptops, tablets, personal computers, satellites, televisions, and radar as well as the decline in their prices. Moreover, the availability of modern technologies-oriented products are the reason behind this segment growth in the embedded computing market.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 95.8 Billion |
| Revenue Forecast by 2030 | USD 165.68 Billion |
| CAGR | 6.28% from 2022 to 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Arm Holdings Plc., Fujitsu Limited, Intel Corporation, IBM Corporation, Microchip Technology, Inc., Microsoft Corporation, Qualcomm Incorporated, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated |
Regional Snapshots
The significant portion of North America is linked to the area's strong technology adoption rate and the presence of significant providers. Additionally, the region's growing IoT applications and robotics industries are driving up demand for embedded computers. Moreover, the various subsystems are connected via an embedded system that is housed inside the robot. Without an embedded system, robots would be dependent on external computing systems, increasing the safety concerns due to communication delays and failures between the robot and its external control system. Additionally, a large number of businesses are creating software for embedded systems. The presence of major market players in North America also contributes to the industry's expansion.
Market Dynamics
Drivers
The demand for embedded computers is driven by the expanding IoT services market, growing demand for digitalization, and expanding adoption of communication and networking technologies. The development of IoT technologies is fueled by advanced primary technologies and the proliferation of gadgets. To manage numerous machines and processes, industrial automation includes control systems, including robots and the Internet of Things (IoT). These robots and Internet of Things (IoT) technology rely on embedded computers to provide high precision, high accuracy, and improved manufacturing process performance.
The development of computer technologies has led to an increase in the technologies' embedding in electronics systems. For electronics systems, the embedded system offers a variety of applications. Automobiles, smart homes, office automation, and home appliances are just a few examples of embedded system applications. In addition, a number of other industries, including the military and defense sector and healthcare, are now using embedded systems. Opportunities for market participants are being created by rising R&D expenditures across sectors like the automotive, medical, aerospace, and electronics industries. Innovation in products and shifting dynamics in developing nations are what drive the global market.
Restraints
The growth of this market is being constrained by the security and shorter lifetime issues associated with the use of embedded systems in various process-related applications. Real-time embedded system design limitations are another barrier to the growth of the embedded system market.
Opportunities
Rising R&D activity levels and rapid technological advancement will foster new market opportunities and accelerate market expansion. The introduction of smarter and more energy-efficient electronic devices is anticipated to have a beneficial effect on the growth of the global embedded computing market throughout the course of the anticipated timeframe. People lives are being influenced by technology, and the way they interact in terms of communication and engagement is only growing because they feel the need to stay connected. Therefore, it is practically impossible to stop people from using these cutting-edge gadgets. Hence, opportunities for developing new advanced gadgets will drive the embedded computing devices in the market.
Challenges
One of the key elements slowing the market's growth is the security of embedded devices. In order to retain data that might be crucial, embedded devices, including memory, are used by military forces, banks, data centers, and healthcare organizations. Cyber threats and security breaches must therefore be prevented at all costs. On the other hand, the high energy usage of small embedded computing devices would slow the market's expansion.
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Recent Developments
- The Renesas Advanced (RA) Family of 32-bit Arm Cortex-M microcontrollers (MCUs) was introduced by Renesas Electronics Corporation to speed up the creation of Internet of Things (IoT) applications that incorporate key technologies like security, safety, and connectivity.
Market Segmentation
By Component
- Hardware
- Microprocessor
- Microcontroller
- Digital Signal Processor
- Others
- Software
By Application
- Communications
- Industrial
- Consumer Electronics
- Automotive
- Healthcare
- Energy
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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