Hexa Reports Added Embedded System Market Is Expected Growth Over USD 14 billion by 2020

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Hexa Reports added Global Market Report On “Embedded System “ growing at 6% over the forecast period. Mounting smart grid initiatives coupled with innovation in technology is expected to drive demand growth over the next six years.

The Report Contains

Embedded System Market Size By Application (Automotive, Industrial, Consumer Electronics, Telecommunication, Healthcare, Military & Aerospace), By Product (Hardware, Software), Competitive Analysis & Forecast To 2020. 

Industry Overview

Global embedded system market size is anticipated to exceed USD 214 billion by 2020. The recent IPv6 standard is an enhancement of TCP/IP, and the most advanced of all Internet Protocols (IP) found in most operating systems (OSs). In addition, the Extended Markup Language (XML) and Simple Object Access Protocol (SOAP) data-exchange standards are expected to improve communications and interoperability. These factors are expected to significantly contribute to the global embedded system market growth.

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Product Overview

Embedded hardware was the leading product segment and was valued USD 131 billion in 2013. It is likely to witness significant gains, with forecast of USD 199 billion at a rate of over 6% from 2014 to 2020. Rising economic growth of emerging regions such as Brazil, Russia, Taiwan, China and India is fueling growth of latest technologies, which is in turn, driving global demand during the forecast period. 

Embedded software includes operating system (OS), tools and middleware. Growing emergence of IoT has opened up an avenue for a software system. Java is embedded in mobile devices in order to control, develop and interact with the assistance of near-field communication, and image recognition technologies. Adoption of the IoT is expected to expand in the near future, which can largely attribute to this product segment. 

Application Overview

Automotive sector accounted for more than 20% of the embedded systems market share in 2014, with gains estimated at over 6% from 2014 to 2020. Escalating need for vehicles equipped with car-to-road communication and effective navigation capabilities is expected to spur the industry in this segment. In addition, increasing penetration of hybrid electric vehicles (HEV) and electric vehicles (EV) for ensuring emission control is estimated to drive the demand. 

Healthcare sector hold the second largest share in the industry, growing at a CAGR of over 7% over the forecast period. Increasing demand for handheld and portable medical devices such as vital sign monitoring system is likely to boost the global growth. 

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Regional Overview

North America was valued over USD 48 billion in 2013. It is expected to reach 75 billion by 2020 at a CAGR of 4% during the next coming years. Europe is predicted to exceed USD 56 billion by 2020, at a CAGR of over 5% during the forecast period. 

Asia Pacific embedded system market was valued over USD 45 billion in 2013 and is likely to attain USD 70 billion by 2020. The region is expected to grow at a higher rate owing to substantial number of skilled professional involved in software development in the region. Moreover, presence of fabrication plants in the region has also lowers the manufacturing costs.

Competitive Market Share

The global embedded system market share is moderately competitive, with the top four key participants accounting for more than 50% of the total share in 2013. Renesas Electronics was the industry leader and accounted for over 28% of the share in 2013. The company is a key supplier to a wide range of OEMs, which increases the dependency of automakers among other industries. 

Other major companies include Freescale Semiconductor, Infineon Technologies, Samsung, Atmel Corporation, Microchip, STMicroelectronics and Texas Instruments among others. 

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About Us:

Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. 

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