The Global Embedded Systems Market was worth US$86.5 billion in 2023 and is anticipated to reach a valuation of US$150 billion by 2032 from US$91.95 billion in 2024. It is predicted to register a CAGR of 6.3% during the forecast period 2024-2032.
Embedded systems are computer systems with a dedicated function within a more extensive mechanical or electrical system often with real-time computing constraints. These systems combine computer memory, a computer processor, and input/output peripheral devices with a dedicated function within a more extensive mechanical or electrical system. This embedded system can control many devices that are used every day. These embedded systems are designed to meet the requirements of the target system in which they are embedded and are application-specific systems. Rising demand for devices such as smart electricity meters is the factor driving the development of the global market over the outlook period. This growth of the embedded systems market is owed to the incorporation of these devices to ensure proper and desired functionality in many other devices.
With the surge in energy efficiency initiatives worldwide, the need for smart meters will likely expand over the prediction period, giving impetus to the embedded systems market. Also, technological advancements and decreasing prices of microcontroller units are expected to impact the target market positively in the coming years. These embedded systems are utilized in various end-use industries which are resulting in growing demand from the application areas like consumer electronics, and healthcare is anticipated to bolster the Global Embedded Systems Market over the next five years. The growing demand for embedded systems with multi-core technologies & embedded graphics and the escalating demand for embedded systems in the automobile industry are the primary drivers of the Global Embedded Systems Market. Moreover, unrelieved research & development for introducing smarter and energy-efficient electronic devices are positively affecting the global embedded systems market. Also, many applications of these systems in application areas like automotive, space, aeronautics, rail, communication, mobile, and electronic payment solutions are set to fuel the growth of the global embedded system market over the forecast period.
Concerns regarding security and the shorter lifespan involved with using embedded systems in various process-related applications are hindering the growth of the target market. The design constraints of real-time embedded systems are limiting the progression of the embedded system market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
6.3% |
Segments Covered |
By Component, Functionality, System Size, and Region. |
Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Analog Devices, Inc., ARM Holdings, Atmel Corporation, Broadcom Limited, Cypress Semiconductor Corporation, Fujitsu Limited, Infineon Technologies, Intel Corporation, Lattice Semiconductor, Marvell Technology Group Ltd., Microchip Technology Inc., NXP Semiconductor N.V., Qualcomm Technologies Inc., Renesas Electronics Corporation, Samsung, STMicroelectronics, Texas Instruments, Inc., Toshiba Corporation, and Others. |
Standalone System
Real-time System
Network System
Mobile System
Small-scale Embedded Systems
Medium-scale Embedded Systems
Large-scale Embedded Systems
In the regional analysis of the Embedded Systems Market, North America held a significant market share of over 45%. The growth of the target market is owing to the presence of major companies in this region, such as Intel and Microsoft. Also, the growing adoption of IoT technology in the US and the rising consumer demand for smart and connected devices to reduce human intervention are positively impacting market growth.
Also, the embedded systems market in the Asia-Pacific region is expected to grow at a higher CAGR of 6.7% from 2024 to 2032. This growth of the target market in this region is due to the rise in the number of trained professionals involved in software development of these embedded systems in the area. Moreover, the presence of fabrication plants such as the Taiwan Semiconductor Manufacturing Company (TSMC) alleviates lower manufacturing costs and further boosts the growth of the market in Asia-Pacific.
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