Embedded software market is estimated to grow by a CAGR of ~9% owing to increased use by automobile sector
Embedded software market is expected to grow at CAGR of ~9% during the forecast period and expected to reach market size of US ~$19 Billion by the end of forecast period. The global embedded software market has seen remarkable opportunities as consumption percentage of electronic goods are increasing. In this competitive scenario, of smart technology, there is a huge demand of embedded software for all real-time operations. The demand for real time operating systems across various industries such as consumer electronics, healthcare, automotive and others is creating a huge scope for the growth of Embedded Software Market.
Automotive is the biggest market for embedded software and as this industry has grown in last decade, where demand for embedded software has been boosted up. The increasing use of embedded software in wearable devices such as watches and healthcare devices are also leading the market of embedded software. It allows manufacturers to develop sophisticated devices with high power-efficiency, fast performance and high productivity. Rising consumer demand for electronic devices such as tablets, smartphone as well as computers is projected to offer high potential to embedded software market size.
Embedded Software Market Players
- Enea Software AB (Sweden)
- Green Hills Software (U.S.)
- IBM Corporation (U.S.)
- Intel Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Advantech Industrial Computing India Pvt. Ltd (Taiwan)
- Emerson Network Power (U.S.)
- Microchip Technology Inc. (U.S.)
- Mitsubishi Electric Corporation (Japan)
- STMicroelectronics (Switzerland)
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Embedded software market
The Global Embedded software market has been segmented on the basis of programming languages and applications. Programming language consists of C, C++, Assembly Language, Java, .Net and others. The applications can be segmented as Consumer Electronics, Healthcare, Automotive and Radio & Satellite Devices among others.
Market Research Analysis:
Market Research Future Analysis shows that the low-level programming languages such as C or assembly languages are being extensively used by the programmers of embedded software to cope up with the constraints of performance and cost. The C language has a quick run time as compared to other languages such as java which facilitates its use in embedded software. C language supports easy access to input and output and facilitates the use of embedded software by the management. C combines the functionality of assembly languages and features of high level languages such as java and .net which makes it suitable for embedded software. The embedded software developed in C language are easy to understand, maintain and change according to the needs of the hardware. The object-oriented languages such as C++ are not widely used as compared to the traditional C programming language.
Geographically, North America is expected to grow with the existence of large number of industries for consumer electronic goods and automobile manufacturers in the region. The region also has major vendors for embedded software such as IBM Corporation, Intel Corporation among others. Europe region is spending tremendously on commercial embedded software solutions such as operating systems, development tools, modeling and testing tools among others. Asia pacific region is expected to grow with existence of large number of fabrication plants in the nations such as India and China.
- Software providers
- System integrators
- IT service providers
- Automobile manufacturers
- Third party suppliers
- Hardware manufacturer
- End users
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