The global report on the embedded software market is predicted to surpass a valuation of USD 19 billion by 2022, with a CAGR of 9% during the forecast period of 2017 to 2022. Market Research Future (MRFR) discussed various factors that can propel the Embedded Software Market size. These factors are rising demand for portable electronic gadgets like laptop, the inclusion of technologies that enable the machine to machine communication, growing percolation of Internet of Things (IoT), demand for energy-efficient policies, burgeoning semiconductor industry, hike in automation in the manufacturing sector, investment in research, and others.
The prominent players in the market of Embedded Software Market are – 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) and STMicroelectronics(Switzerland) among others.
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In August 2020, Elektrobit (EB), a company known as one of the major global suppliers of embedded and connected software products with the automotive industry as the main focus area, declared they had integrated new features and capabilities for EB GUIDE that will assist developing advanced human-machine interfaces (HMIs) in better ways and make it accessible to a broader range of developers. Raspberry Pi users can now plan various experiments with innovative HMI concepts using the software development kit (SDK) specially designed for Raspberry Pi in EB GUIDE.
In August 2020, Borqs Technologies, Inc., a global leader known for its superior contributions in embedded software and products involving the Internet of Things (IoT) industry, revealed that it had fetched a purchase order of around US$15M to supply mobile point of sale (POS) IoT devices to their counterparts in India. The electronics industry in this Asian country is witnessing fast-paced growth, which has created a huge scope for companies to weigh their options in the region. The company has designed and developed the POS IoT device using top-notch technologies, which will work well in the Indian market, especially in areas like payment methods, latest radio bands, etc. It also passed the global mobile payment certifications and got recognition from the Indian mobile operators.
The COVID-19 crisis is predicted to boost the global market demand for embedded software as the global market is experiencing a huge rise in the intake of portable electronic devices like laptops and others.
The global embedded software market has been studied on the basis of a segmentation that includes programming languages and applications. MRFR analysts have analyzed each sector to get a comprehensive knowledge of how the market is moving ahead and setting up trends for the future.
By programming language, the global market study of the embedded software market includes a segmentation comprising C, Assembly Language, C++, .Net, Java, and others.
By applications, the global market report on the embedded software market includes segments like consumer electronics, healthcare, automotive and radio & satellite devices, and others. The automotive sector has substantial growth scope.
The embedded software market has been regionally analyzed with respect to Asia Pacific or APAC, Europe, North America, and the rest of the world or RoW.
North America has materialized as the top market for embedded software, on account of the surge in IOT in the US as well as Canada. The high number of startups in the region that offer advanced software solutions prods the deployment rate of embedded software solutions. Also, the increasing application of special-purpose hardware that deploy RTOS systems, like Windows CE, Fusion RTOS, VxWorks and Lynx OS, will result in notable business expansion in the next couple of years.
Europe, consisting of highly developed countries like France, Italy and Germany, generates massive demand for embedded software, especially in consumer electronics. The rapid development of the ICT technology within the automotive sector has also been instrumental in the growth of the embedded software market in the region.
The APAC market for embedded software can procure the fastest expansion rate in the forthcoming period, on account of the rising customization of consumer electronics as well as healthcare products. Several government-backed initiatives in developing nations such as India, South Korea and Japan to boost the economic status are projected to encourage market growth. Maximum market growth in the region is expected to be in India and China, on account of the improving economic conditions and the increasing use of electronic products.
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- Software providers
- System integrators
- IT service providers
- Automobile manufacturers
- Third party suppliers
- Hardware manufacturer
- End users
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