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[Research Report] The embedded systems market was valued at US$ 104.31 billion in 2022, and it is expected to reach US$ 159.44 billion by 2030. The embedded systems market is estimated to register a CAGR of 5.4% from 2022 to 2030.
Embedded Systems Market Analyst Perspective:
Rising need for automation, connected devices, microprocessor advancements, IoT usage, smart homes and buildings, and medical devices is boosting the embedded systems market. Furthermore, the proliferation of new technologies and innovations and the rise in demand for electric and hybrid vehicles are driving the embedded systems market. The adoption of the Internet of Things (IoT) fuels the demand for embedded systems that gather and send data from linked devices to cloud-based applications. This information can then be analyzed and used to make decisions. Advances in microprocessor technology, such as miniaturization, low power consumption, and high processing power, have propelled the growth of the global embedded systems market in the last few decades.
Embedded Systems Market Overview:
Computer systems integrated into other devices or systems to manage or monitor their operations are known as embedded systems. These systems are intended to execute certain tasks and are utilized in a variety of applications, such as automotive, healthcare, industrial automation, and consumer electronics. They are often built to be extremely dependable and efficient, with low power consumption and tiny form factors. They can be programmed to control machinery, monitor sensors, gather and communicate data, and manage electricity and resources, among other things, which is expected to propel the embedded systems market growth during the forecast period.
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Embedded Systems Market: Strategic Insights
Market Size Value in US$ 104.31 billion in 2022 Market Size Value by US$ 159.44 billion by 2030 Growth rate CAGR of 5.4% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Embedded Systems Market: Strategic Insights
| Market Size Value in | US$ 104.31 billion in 2022 |
| Market Size Value by | US$ 159.44 billion by 2030 |
| Growth rate | CAGR of 5.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Rise in Demand in Automotive Industry is Fueling the Growth of Embedded Systems Market
The impact of modern technology has shaped the industry. The advent of digital technology across the world made it possible to implement advanced solutions in automobiles. Today, cars are equipped with a range of sophisticated technologies for making driving safer, comfortable, and enjoyable for users. Embedded systems are highly used in both regular and hybrid automotive vehicles. These systems are playing a significant role in redesigning the automotive industry. The systems are used in ADAS technology incorporated in electric and hybrid vehicles. The growing demand for electric and hybrid vehicles is driving the market. For instance, according to the International Energy Agency (IEA), electric vehicle sales increased by 10 million in 2022. A total of 14% of all new cars sold across the globe were electric. The increasing sales of electric cars globally raises the adoption of embedded systems among automotive manufacturers. These systems are used to monitor and control various features of an electric vehicle, including charging systems and battery management systems.
The embedded hardware is integrated into vehicle systems to reduce overheating and the release of gases. These systems are used even in luxury automobiles to make them more network-savvy, energy-efficient, and safe to drive. The expansion of the automotive industry is fueling the embedded system market growth. The key players in the embedded systems market are partnering to develop high-performance embedded systems used in autonomous vehicles. For instance, in May 2022, Magna International Inc. partnered with BlackBerry Limited to develop next-generation ADAS solutions for automotive original equipment manufacturers (OEMs). Magna International Inc. is leveraging BlackBerry Limited's various QNX software platforms, such as QNX Software Development Platform, QNX Platform for ADAS, and QNX OS for Safety in design engineering, validation and performance optimization roles, and systems integration. The partnership helps Magna International to develop high-performance and secure embedded systems for ADAS, autonomous driving, and infotainment systems, driving the embedded systems market.
Report Segmentation and Scope:
The embedded systems market is segmented on the basis of component, functionality, and application. Based on components, the embedded system market is segmented into hardware and software. The hardware segment is further sub-segmented into sensor, microcontroller, processors & ASICS, memory, and others. The functionality segment is further divided into real-time embedded systems, standalone embedded systems, networked embedded systems, and mobile embedded systems. Based on application, the embedded systems market is bifurcated into automotive, telecommunication, healthcare, industrial, consumer electronics, and others. The embedded systems market, based on geography, is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Segmental Analysis:
Based on component, the embedded systems market is categorized into hardware and software. The hardware segment is sub-segmented into sensor, microcontroller, processors & ASICs, memory, and others. The hardware segment held the largest embedded systems market share in 2022 and is anticipated to register the highest CAGR in the market during 2022–2030. Sensors enable embedded systems to observe changes in their surroundings and collect valuable real-time data. An embedded system receives relevant data from sensors, processes it, makes a decision based on the data from the sensors, and acts on the decision. In IoT, robotics, and AI systems, embedded systems and sensors operate simultaneously to perform intelligence tasks. Additionally, sensors can be categorized according to their function, output, and measurement. Temperature, pressure, humidity, light, motion, sound, and gas sensors are examples of typical sensor types. Specifications for each sensor type explain its performance and features, such as range, resolution, sensitivity, accuracy, precision, response time, and noise. This versatile nature of the sensors can be a parameter to boost the embedded systems market growth.
Regional Analysis:
The embedded systems market is broadly segmented into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. North America held the largest embedded systems market share in 2022, followed by APAC and Europe. This region contributes a significant share of the global embedded systems market owing to greater investment in automation and software coupled with the growing number of investments in IoT technology. The increasing adoption of IoT solutions among consumers is driving the embedded systems market in North America. IoT technology is highly deployed in electric vehicles (EVs). Manufacturers are engaging in investing to increase their EV supply in order to meet growing consumer demand.
For instance, according to the International Energy Agency (IEA), in April 2023, EV manufacturers announced investments totaling ~US$ 52 billion in EV supply chains in North America. Embedded systems are highly used in electric vehicles to empower constant communication, information processing, control, and criticism components that enhance the user's experience. The increasing adoption of electric vehicles among consumers is fueling the embedded systems market. Embedded system encourages energy management system in EVs. The system controls power circulation and energy usage by ensuring proficient utilization of stored energy.
Market players operating in the region are also raising awareness about the benefits embedded system provides in cybersecurity practices. For instance, in September 2023, Digi International Inc. announced its participation in upcoming events at Arrow University in October 2023. These events are premeditated to educate OEMs as well as software developers about the designing of embedded systems and software and their benefits in cybersecurity practices. The growing number of cyber-attacks has increased the adoption of embedded systems. Cybersecurity specialists work with user's systems design teams to ensure that the embedded system has the necessary security mechanisms to mitigate the damage from these attacks. The system ensures security by requiring regular firmware updates. Embedded system is highly utilized for intrusion detection and prevention in network security. They monitor network traffic and automate actions to migrate threats. However, integrating embedded systems in cybersecurity practices protects the user's system from all types of malicious behavior.
Key Player Analysis:
Infineon Technologies AG, Intel Corp, NXP Semiconductors NV, Qualcomm Inc, Renesas Electronics Corp, STMicroelectronics NV, Texas Instruments Inc, Microchip Technology Inc, Advantech Co Ltd, and Marvell Technology Inc are the top embedded systems market players as they offer diversified product portfolios.
Embedded System Market Report Scope
Recent Developments:
Inorganic and organic strategies are highly adopted by the embedded systems market players. A few recent key market developments are listed below:
- In July 2023, Microchip Technology Inc. launched a new research and development (R&D) facility in Hyderabad and announced a US$ 300 million investment over the next five years to grow its activities in India.
- In May 2023, Renesas unveiled three new MCU groups designed for applications involving motor control. Devices from the RX and RA families are among the more than 35 new products that Renesas launched. With several MCU and MPU families, analog and power solutions, sensors, communications equipment, signal conditioners, and other devices, the new MCUs expanded the leading motor control range in the market.
- In September 2022, Marvell introduced its LiquidSecurity 2 (LS2) hardware security module (HSM) adapter, which is intended for general use and payment processing. LS2 is based on the company's technologies and is used in top-tier hyperscale clouds. The new Marvell HSM adapter provides high-performance cryptographic acceleration and processing, as well as hardware-secured storage of up to one million AES, RSA, and ECC encryption keys and 45 partitions for multi-tenant use cases.
- In September 2022, Intel launched the 12th Generation Intel Core processor family, which includes the all-new 12th Generation Intel Core H-series mobile CPUs, led by the Intel Core i9-12900HK, the fastest mobile processor ever developed. The 12th Generation Intel Core family would feature 60 processors and over 500 designs.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Functionality, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The growing research to develop AI-based embedded systems can be a future trend for the embedded system market.
The Embedded Systems Market was US$ 104.31 billion in 2022 and is expected to grow at a 5.4% CAGR from 2022 - 2030.
The key players holding majority shares in the embedded system market include Intel Corporation, Qualcomm Technologies Inc., Texas Instrument, STMicroelectronics, and Infineon Technologies AG.
The US held the largest market share in 2022, followed by China.
China is anticipated to grow with the highest CAGR over the forecast period.
The growing demand in the automotive industry can be a driving factor for the embedded system market.
The List of Companies - Embedded Systems Market
- Infineon Technologies AG
- Intel Corp
- NXP Semiconductors NV
- Qualcomm Inc
- Renesas Electronics Corp
- STMicroelectronics NV
- Texas Instruments Inc
- Microchip Technology Inc
- Advantech Co Ltd
- Marvell Technology Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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