PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629198
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629198
Embedded Computing Market size was valued at USD 39,251.5 Million in 2023, expanding at a CAGR of 7.90% from 2024 to 2032.
Embedded systems are task-specific, which implies they are designed to carry out a particular task rather than multiple activities. The particular design of an embedded system is determined by the task for which it is intended. Still, most embedded systems include a CPU, a power supply, memory, and communication interfaces. The utilisation of embedded systems has several benefits. For example, they are very adjustable and inexpensive, making it simple and affordable to tailor them to specific functional and performance requirements. Furthermore, they consume little electricity, lowering the system's overall energy consumption. It performs duties such as data processing, sensor input reading, output display, command generation and delivery, and data transformation. It is widely utilised in a variety of industries, including consumer electronics, personal care, healthcare, banking, telecommunications, automotive, security, workplace automation, home applications, and smart cards.
Embedded Computing Market- Market Dynamics
Integration of AI with Machine Learning.
The incorporation of artificial intelligence (AI) and machine learning (ML) into embedded systems dramatically improves their usefulness and efficiency, allowing for better applications across multiple industries. By implementing AI and ML algorithms, embedded devices may analyse data in real-time, make intelligent decisions, and adapt to changing conditions on their own. This feature is especially useful in industries like automotive, healthcare, and industrial automation, where predictive maintenance, enhanced diagnostics, and intelligent automation are essential. Furthermore, the capacity to process complex data locally minimises latency and bandwidth consumption, leading to better performance and user experience. This movement is changing the landscape of embedded computing. For instance, in June 2024, Connection announced a collaboration with Microsoft, Qualcomm, and other top OEMs to launch Copilot+ PCs, a new generation of Windows-based computers optimised for AI tasks. These PCs, driven by innovative system design and inbuilt Neural Processing Units, promise a 100 per cent more efficient AI experience than prior generations of computers.
Embedded Computing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.90% over the forecast period (2024-2032)
Based on Component Type segmentation, hardware Component Types are expected to expand the highest revenue share.
Based on End-user segmentation, the Automotive segment is predicted to develop the fastest.
In terms of region, North America was the largest revenue generator in 2023.
The Global Embedded Computing Market is segmented on the basis of Component Type, End User, and Region.
The market is segmented into two segments according to Component Type: Hardware and Software. The hardware segment had the highest revenue share in 2023. The increase is due to growing living standards, a broader public grasp of technology, and an increase in the country's disposable money, furthermore, as a result of technology advancements, better understanding, and affordable consumer devices. People are drawn to technology. Hence, the demand for embedded systems is increasing over time.
The market is divided into six categories based on End Users: Automotive, Healthcare, Industrial Automation, Retail, Consumer and Smart Home, and Other End Users. In the coming years, this segment of the Automotive industry is expected to grow the most rapidly. This is the result of the rapid use of sophisticated embedded systems. Automakers incorporate embedded computing systems in their automobiles for a variety of services, such as audio, security, and ignition. Another area in which major automakers are likely to participate in technological innovation is the creation of vehicles that are more network-savvy, safe, and energy-efficient, which is predicted to provide profitable growth opportunities for the automotive industry.
Embedded Computing Market- Geographical Insights
Geographically, this market is distributed over North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further split based on the nations bringing commerce. North America has the biggest market share and dominates the embedded computing industry. The high rate of technological adoption and the presence of major providers in North America are linked. Demand for embedded computers is also increasing due to the growing IoT applications and robotics industries in the region. A robot-housed embedded system connects all of the various components. Robots would be dependent on external computing systems in the absence of an embedded system, increasing the possibility of communication errors and delays between the robot and its external control system.
The Embedded Computing market in Asia Pacific is expected to grow at the quickest CAGR over the forecast period. Rising per capita income and ongoing, widespread urbanisation and industrialisation are propelling Asia Pacific's embedded computer sector forward. Furthermore, it is expected that the availability of low-cost electronic goods in Asia and the Pacific will boost demand for microprocessors and microcontrollers in the region. Asia Pacific is expected to see a surge in demand for embedded system hardware, such as microprocessors and controllers, as autonomous robots and embedded vision systems become more common in industrial applications. In turn, this increases demand throughout the Asia Pacific in the next years.
Established players and emerging companies characterise the competitive landscape of the Embedded Computing Market. Such key players as IBM Corporation, Microsoft Corporation, Qualcomm Incorporated, Fujitsu Limited, and others dominate the market with their extensive portfolios of embedded processors and solutions customised for various applications, namely automotive, industrial automation, and consumer electronics. These companies focus on innovation, that is, developing high-performance and energy-efficient products so as to meet the increasing needs of smart devices and Internet of Things applications. Moreover, the new entrants are doing better by providing specialised solutions targeting specific industries or applications that enhance competition. The market is also influenced by trends such as the increasing adoption of AI and machine learning in embedded systems, which drives companies to integrate advanced features into their products. As the demand for embedded computing continues to grow, companies are likely to pursue strategic collaborations and acquisitions to strengthen their market positions and expand their technological capabilities.
In September 2022, Intel introduced 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 designed. The 12th generation Intel Core family would include 60 processors and more than 500 designs.