NEW YORK, June 21, 2021 /PRNewswire/ -- Technavio identifies the increasing demand for IoT devices as one of the major factors driving the growth of the embedded computer market. The adoption of IoT and connected devices is on the rise among organizations across the world. Vendors operating across various industries are also making significant efforts to introduce IoT and provide interoperability in a range of connected devices, home appliances, gateways, entertainment systems, and smart homes. This has increased the demand for embedded computer boards such as SBCs, COMs, and stand-alone boards. Therefore, the rising demand for IoT devices is expected to foster the growth of the global embedded computer market during the forecast period.
In 2020, Europe accounted for about 33% of the global market share, and the region is expected to continue its dominance during the forecast period. The high adoption of Industry 4.0 by organizations operating in the region is driving the demand for embedded computers. Also, the growing investments in the development of autonomous vehicles and electric vehicles are fueling the growth of the embedded computer market in Europe.
Similarly, the market generated maximum revenue from the COMs segment in 2020. The growth of the segment can be attributed to the rising trend of miniaturization in the electronics industry. In addition, the advances in processor technologies such as ARM and x86 and the development in bus architecture such as COM, COM Express, CompactPCI, VME, and VPX will support the growth of the services segment during the forecast period.
Although the embedded computer market is expected to record a healthy growth during the forecast period, high lead times and security challenges associated with IoT might reduce the growth opportunities for market participants. This report on the embedded computer market will help businesses become better equipped, make informed decisions, and develop effective strategies to improve their market positions.
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