Global Embedded Systems Market

Embedded Systems Market Size, Share, Growth Analysis, By Component (Hardware, Software), By Application (Automotive, Industrial), By Function (Standalone Systems, Real-Time Systems), By Region -Industry Forecast 2024-2031

Report ID: SQMIG45B2149 | Region: Global | Published Date: November, 2024
Pages: 178 | Tables: 93 | Figures: 67

Embedded Systems Market Insights

Global Embedded systems Market size was valued at USD 90.1 billion in 2022 and is poised to grow from USD 95.33 billion in 2023 to USD 141.45 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Rapidly increasing demand for Internet of Things (IoT) devices and technologies is slated to emerge as the primary factor for embedded systems market growth in the future. Growing use of embedded systems and electronics across multiple industries ranging from healthcare to automotive will also create new business scope for embedded system companies going forward. Increasing sales of consumer electronics, electric vehicles, autonomous vehicles, and automation devices are also expected to uplift the demand for embedded systems in the long run. High demand for industrial automation to promote efficiency and productivity in different industries around the world is also estimated to offer new business opportunities for embedded system providers in the long run. On the contrary, complexities in integration, lack of standardization, and high development and maintenance costs are forecasted to slow down the sales of embedded systems across the study period and beyond.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Embedded systems Market size was valued at USD 90.1 billion in 2022 and is poised to grow from USD 95.33 billion in 2023 to USD 141.45 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Embedded system companies should invest in the research and development of novel solutions that are affordable and easy to integrate. Targeting countries with rapidly increasing industrialization and urbanization will offer good returns for embedded system providers in the future. Rising demand for automation is also a key opportunity that embedded systems market players can explore in the future. 'Intel Corporation', 'Renesas Electronics', 'Texas Instruments Inc.', 'NXP Semiconductors', 'Atmel Corporation', 'Qualcomm Incorporated', 'Cypress Semiconductors', 'Infineon Technologies', 'Analog Devices Inc.', 'Microchip Technology Inc.', 'STMicroelectronics N.V.'

The proliferation of Internet of Things (IoT) technologies and devices has increased rapidly around the world. This trend is projected to uplift the demand for advanced embedded systems as the popularity of integrated systems for automation, real-time data processing, and connectivity increases on a global level.

High Demand for Edge Computing: Embedded system providers should focus on the development of products that are capable of performing edge computing operations as high proliferation of IoT devices is boosting the demand for edge computing. Developing embedded systems with reduced latency and better real-time data processing capabilities will help market players boost their sales potential in the future.

North America is forecasted to emerge as the leader in terms of global embedded system demand outlook. The presence of key embedded system providers and quick adoption of advanced technologies are key factors allowing this region to hold sway over others. Rising investments in the development of novel digital technologies in this region coupled with high demand for industrial automation are also creating new business scope for embedded system companies operating in North America. The United States is slated to be the most opportune market for embedded system companies in this region followed by Canada. High use of connected devices in this region will also promote market growth.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Feedback From Our Clients

Global Embedded Systems Market

Report ID: SQMIG45B2149

$5,300
BUY NOW GET FREE SAMPLE