The increased investment in automation technologies and growth in sales of electronic devices are key factors that are expected to drive the market. In 2013, the embedded system market was valued USD 140.32 billion and is predicted to reach USD 214.39 billion by 2020 growing at CAGR of 6.3% from 2014 to 2020. The use of embedded system has increased in many sectors. The Automotive industry is dominating among other industries. Embedded system is application-specific system that ensures accurate and desired functionality. The demand for devices such as smart electric meter is expected to propel the market.
The demand for smart meter has increased due to its capabilities such as sending accurate reading to suppliers and is expected to increase even more in forecast period. Technological advancement and availability of electronic components at low price will have positive impact on market. Embedded system has numerous applications in various fields; as a result the demand for systems is high. Besides, the demand from areas such as healthcare is expected to fuel market in next six years.
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The hardware components used in embedded system dominated the overall market share in 2013. It accounted about 93.8% and is expected to dominate in coming period. Digital signal Processors, microcontrollers and microprocessors are key components used in embedded systems. The software component contains operating system (OS) that act as middleware between system and user. From 2014 to 2020, the segment is expected to grow at a CAGR of 8.1%.
The use of embedded systems in automotive applications was the highest in 2013 and it accounted about 20.8% of market. The use in automotive industry is expected to dominate due to its use in infotainment, engine control and safety. Use of GPS and increasing use of electric vehicles (EV) and hybrid electric vehicles (HEV) is expected to boost the market.
The use of embedded system in healthcare sector is expected to be fast growing at a CAGR of 7.1 from 2014 to 2020. Embedded systems are designed to independently execute specific function. The growth in production and sale of consumer electronics such as smartphones, LED TV’s and other home appliances will help in growth of this sector in next six years. Data acquisition and feedback control system, smart metering system for automation will contribute in growth of the industry.
In 2013, the North America was largest market and is expected to dominate in forecast period. Asia-pacific is expected to grow at a CAGR of 6.7% from 2014 to 2020. The number of trained professional and Taiwan semiconductor manufacturing company (TSMC) is main reason for growth of industry in the region. The use of java in mobiles in-order to develop different applications and to control NFC will eventually boost the market.
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There are major player in the industry that offers different hardware and software products. Hardware component includes DSP’s, microcontroller and microprocessors. Automobile, consumer electronics, healthcare and telecommunication are sector in which embedded systems are used. Intel corporation, Atmel and Qualcomm, Samsung electronics Corporation are some key players among the established organization.
Embedded Systems Product Outlook (Revenue, USD Billion, 2012 – 2020)
• Embedded Hardware
• Embedded Software
Embedded Systems Application Outlook (Revenue, USD Billion, 2012 – 2020)
• Consumer Electronics
• Military and Aerospace
Embedded Systems Regional Outlook (Revenue, USD Billion, 2012 – 2020)
• North America
• Asia Pacific
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/semiconductor
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