Embedded Systems Market to Reach $163.2 Billion by 2031, Globally, by 2031 at 6.5% CAGR: Allied Market Research

News provided by

Nov 23, 2022, 10:14 ET

Rise in investment made by government agencies in next-generation electric vehicles (EV) and automotive & defense sectors to drive the growth of embedded systems market.

PORTLAND, Ore., Nov. 23, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Embedded Systems Market by Component (Hardware, Software), by Application (Automotive, Consumer Electronics, Industrial, Aerospace and Defense, and Others) : Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global embedded systems industry generated $89.1 billion in 2021, and is estimated to reach $163.2 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Download Free Sample Report@ https://www.alliedmarketresearch.com/request-sample/8881

Drivers, Restraints, and Opportunities

Rise in investment made by government agencies in next-generation electric vehicles (EV) and automotive & defense sectors to drive the growth of embedded systems market. Surge in investment made by prime players in emerging economies to boost the global market trends. Rise in penetration of 5G network across various sectors and increase in use of 5G devices in embedded systems will open new growth avenues for the global market. Growing security concerns related to embedded devices will put brakes on the global market growth.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global embedded systems market, owing to substantial impact of the pandemic on key players operating in the supply chain.
During the COVID-19 pandemic, complete or partial lockdown implemented by various governments severely impacted the global market trends.

Interested to Procure the Data? Inquire Here (Get Full Insights in PDF - 265 Pages) @ https://www.alliedmarketresearch.com/purchase-enquiry/8881

The Consumer Electronics Segment to Dominate the Global Market Share in Terms of Revenue

Based on application, the consumer electronics segment held the major market share in 2021, holding nearly two-fifths of the global embedded systems market share, and is expected to maintain its leadership status during the forecast period. The increased demand for consumer electronics devices such smartphones, laptops, handheld gaming consoles, smart TVs, and others running on Android, Linux, and other operating systems is expected to boost the expansion of the embedded system industry during the forecast period. The development of the Internet of Things (IoT), artificial intelligence (AI), and the potential development of emerging economies are further factors contributing to the market expansion making it as a largest segment in embedded systems market. However, the automotive segment, is expected to cite the fastest CAGR of 10.0% during the forecast timeline. The redesign of the automotive sector is largely being driven by embedded technology. These systems are utilized by the ADAS technology found in hybrid and electric automobiles. The embedded system industry has expanded because of the rise in demand for electric and hybrid vehicles brought on by public awareness of the environment's declining condition. Thus it is anticipated to witness automotive segment as a fastest growing segment during the forecast period.

The Hardware Segment to maintain its Dominance During the Forecast Period

On the basis of component, the hardware segment held the largest market share in 2021, accounting for more than two-third of the global embedded systems market share, and is expected to maintain its leadership status during the forecast period. However, the hardware segment, is expected to cite the highest CAGR of 7.3% during the forecast period. The report also includes segments such as software. Increase in an embedded system in cloud connectivity, improved security tools, real-time visualizations, lower power consumption, and deep learning solutions are some of the key market trends observed during the forecast period. In addition, the embedded system is expected to continue growing rapidly, driven in large part by the internet of things. Expanding IoT applications, such as wearables, drones, smart homes, smart buildings, video surveillance, 3D printers and smart transportation, are expected to fuel the embedded market. Thus, it is anticipated to witness a fastest growing and largest segment during the forecast period.

Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/8881

Asia-Pacific to Dominate the global Market Growth in 2031

Region-wise, the North American region held the major market share in 2021, grabbing more than two-fifths of the global embedded systems market share. However the Asia-Pacific market is slated to dominate the global market share during the forecast period. The embedded systems market in Asia-Pacific is expected to be largest segment in sectors like automotive, industrial, and others. A developing trend in the area is the "Internet of Cars," which promotes more connectivity using technologically advanced cars which use sophisticated embedded systems.

The rising demand for eco-friendly technologies and vehicle security in nations like India, China, and Japan is attributable to the rising desire for advanced embedded systems Nevertheless, the European region is expected to cite the fastest CAGR of 8.7% during the forecast period. Embedded Systems is anticipated to see a surge in applications such as Internet of Things (IoT), drone deliveries, smart factories, and others, in Europe. Furthermore, smart wearables, embedded OS in automotives and other applications continuously require highly advanced and compact embedded systems which further boosts the demand for embedded systems in the market, Therefore, it is anticipated to be the fastest growing segment during the forecast period. The report also analyses other regions such as LAMEA.

Leading Market Players

Advantech Corporation
Analog Devices, Inc.
Cypress semiconductors
Infineon Technologies
Intel Corporation
Microchip Technology
NXP Semiconductors
Qualcomm Incorporated
Renesas Electronics
STMicroelectronics N.V.
Texas Instruments, Inc.

Trending Reports in Semiconductor Industry (Book Now with 10% Discount):

Embedded Antenna Systems: Emerging Industry Trends and Global Future Forecasts 2021 – 2030

EO/IR Gimbals Market to Witness Excellent Revenue Growth, Emerging Trends and Forecast by 2030

Automotive Electronics Market Expected to Reach $382.16 billion by 2026| CAGR of 7.30%

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/semiconductor-and-electronics