PUBLISHER: The Business Research Company | PRODUCT CODE: 1526950
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526950
Embedded systems are specialized computing systems designed for specific tasks within larger systems or devices. These systems are typically dedicated to a particular function or set of functions and often have real-time computing constraints. They operate in resource-constrained environments, necessitating efficient use of processing power, memory, and energy.
The primary components of embedded systems include hardware, software, and services. The hardware consists of physical elements such as microcontrollers or microprocessors, memory (RAM and ROM), input/output interfaces, sensors, actuators, and communication modules. Their functionality spans real-time, standalone, mobile, and networked systems, ranging from small to large sizes, and are used in various industries such as automotive, consumer electronics, aerospace and defense, healthcare, telecommunications, and industrial sectors.
The embedded systems market research report is one of a series of new reports from The Business Research Company that provides embedded systems market statistics, including the embedded systems industry global market size, regional shares, competitors with embedded systems market share, detailed embedded systems market segments, market trends, and opportunities, and any further data you may need to thrive in the embedded systems industry. These embedded systems market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The embedded systems market size has grown strongly in recent years. It will grow from $101.44 billion in 2023 to $110.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth during the historic period can be attributed to several factors, the establishment of standards and certifications ensured the reliability and safety of embedded systems, an increasing focus on cybersecurity led to the development of secure embedded systems to protect against vulnerabilities, the expansion of global manufacturing capabilities provided cost-effective production of embedded systems, and growing consumer demand emphasized energy efficiency.
The embedded systems market size is expected to see strong growth in the next few years. It will grow to $159.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to several factors, the demand for systems capable of real-time data processing, decreasing costs of embedded system components, increasing demand for tailored embedded solutions, the expansion of embedded systems in developing countries, and their implementation in solar, wind, and other renewable energy solutions. Major trends during the forecast period include advanced embedded systems for military applications, increasing integration with cloud platforms, the growth of Industry 4.0, the expansion of telematics services, and the use of blockchain technology.
The growing emphasis on energy efficiency and sustainability is anticipated to drive the growth of the embedded systems market in the future. Energy efficiency and sustainability involve using less energy to perform the same tasks, thereby reducing energy waste, and employing methods and technologies that fulfill current needs without compromising the ability of future generations to meet their own needs. These concepts are increasingly important due to rising concerns about environmental degradation, resource depletion, and climate change. Embedded systems support energy efficiency and sustainability by optimizing energy usage, integrating renewable energy sources, and enabling intelligent grid technologies. For example, according to the International Energy Agency (IEA), global energy investment increased to $1,740 billion in 2023 from $1,617 billion in 2022. In 2023, about USD 2.8 trillion will be invested in energy, with over USD 1.7 trillion allocated to clean energy initiatives, including renewable power, nuclear, grids, storage, low-emission fuels, efficiency enhancements, end-use renewables, and electrification. Therefore, the rising focus on energy efficiency and sustainability is driving the growth of the embedded systems market.
Major companies in the embedded systems market are developing security solutions to protect embedded devices and systems from cyber threats. These security solutions implement measures such as encryption, authentication, and secure boot mechanisms to safeguard embedded devices and systems. For instance, in July 2023, Kaspersky, a cybersecurity and anti-virus software company based in Russia, launched Kaspersky Embedded Systems Security. This solution provides robust protection for Linux-based embedded devices, offering multi-layered defenses, application controls, and integrity monitoring to ensure compliance and protection against evolving threats.
In April 2021, AMETEK Inc., a US-based electronics manufacturing company, acquired Abaco Systems Inc. for $1.35 billion. This acquisition aligns with AMETEK's strategic initiative to expand its presence in high-growth sectors by integrating Abaco's renowned computing and electronic solutions into its established aerospace and defense operations. Abaco Systems Inc. is a US-based electronic company that provides mission-critical embedded computing systems.
Major companies operating in the embedded systems market are Samsung Electronics, Sony Semiconductor Solutions Corporation, Siemens AG, Intel Corporation, Qualcomm Technologies Inc., Honeywell International Inc., Broadcom Inc., Nvidia Corporation, Advanced Micro Devices Inc., Texas Instruments, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc. , Marvell, Vishay Intertechnology Inc., Arm Limited, Silicon Labs, Nordic Semiconductor, Lattice Semiconductor, Raspberry Pi Foundation, Arduino
North America was the largest region in the embedded systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the embedded systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the embedded systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The embedded systems market consists of revenues earned by entities by providing services such as custom hardware design, firmware development, software integration, system testing. The market value includes the value of related goods sold by the service provider or included within the service offering. The Embedded systems market also includes sales of stm32 microcontrollers, nxp i.mx processors and microchip pic microcontrollers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Embedded Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on embedded systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for embedded systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The embedded systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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