Embedded System Market Assessment, By Component [Hardware, Software, Services], By Function [Real-Time, Standalone, Mobile, Network], By End-use Industry [Consumer Electronics, Automotive, Healthcare, Telecommunication, Industrial, Energy, Others], By Region, Opportunities and Forecast, 2017-2031F

Embedded System Market is projected to witness a CAGR of 4.8% during the forecast period 2024-2031, growing from USD 121.2 billion in 2023 to USD 176.36 billion in 2031.

Embedded System Market Size Global forecast to 2031

Global embedded system market is projected to witness a&nbsp;CAGR of 4.8%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 121.2 billion&nbsp;in 2023 to&nbsp;USD 176.36 billion&nbsp;in 2031. The proliferation of Internet of Things (IoT) devices across many industries is the key factor driving the growth of the global embedded system market demand. Embedded systems increase efficiency and allow them to perform complex tasks efficiently, therefore continuous research and development in the field of embedded systems and technology contributes to the growth of global market penetration. There is an increase in the number of industries, promoting the use of embedded systems to improve performance.
Furthermore, the use of embedded systems seems to be an important part of smart technology in daily life. Advances in connectivity and communication in embedded systems application are contributing to the global distribution of embedded systems market. Integration and intelligent processes to increase operations efficiency resulting in more profits to the businesses continue to drive the growth of global embedded systems market. The integration of software technologies such as computers, robots, artificial intelligence, and machine learning with embedded systems is changing.
Companies can benefit from new ways to integrate energy harvesting technology into embedded systems. Although, the system can operate independently of conventional energy sources using natural energy sources such as solar energy or kinetic energy, the effects of automation and embedded systems can bring scale, innovation, and integration of different components to develop and improve embedded systems. Although the development improves standard processes, it offers new possibilities in the field of user technology.
For instance, in September 2023, GlobalFoundaries and Microchip Technology, through Microchip's Silicon Storage Technology division, launched the SST ESF3 third generation embedded Super Flash technology NVM solution in the GF 28SLPe process.
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<h2 style="text-align: justify;">Integration with Artificial Intelligence to Promote the Embedded System Market&rsquo;s Growth</h2>
The embedded systems market reflects the rapid development and integration of technology. Developing automatic and intelligent systems by integrating artificial intelligence into various applications is the implementation of a global system needed in the market.
For instance, embedded systems can fully support intelligent algorithms as they help people make the right decisions in various sectors such as industry and medicine. In addition, the connection between the power of intelligence and the embedded system enhances the capabilities of devices and systems, accelerating performance and innovation. The introduction of artificial intelligence and the development of technology to improve the interaction between application and intelligence are significant part of the evolution of modern systems and contribute to the expansion of the systems market.
<h2 style="text-align: justify;">Connectivity with Cloud Technology to Fuel Global Embedded System Market Demand</h2>
Integration of electronic devices and cloud technologies is an important tool in the development of embedded systems. This partnership develops hardware which uses multiple cloud resources, including storage, processing power, and algorithms. As they get better access to data, processing, and storage, embedded devices can easily connect to the cloud contributing to the growth of the global embedded system market share. The integration allows faster data exchange, real-time decision making, and improved overall performance of IoT devices such as sensors. In addition, the scalability and flexibility offered by cloud technologies enable embedded systems to respond to supply and demand. Integration increases efficiency and opens the door to innovation, expanding the market by creating flexible and useful embedded systems in different areas.
For instance, in July 2023, Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, announced a multi-year investment of about USD 300 million to expand its operations in India, which is one of the world's fastest-growing semiconductor industry centers.
<h2 style="text-align: justify;">Smart Technologies to Drive Global Embedded System Market Growth</h2>
The introduction of embedded systems in technologies such as smart homes and smart cities will accelerate the growth of global embedded systems market size. Embedded systems serve as the backbone of these smart organisms and enable the integration of various devices and sensors to optimize processes and increase efficiency. The adoption of embedded systems follows a trend driven by factors such as urbanization and the search for sustainable living, along with the increasing need for smart solutions. Moreover, the embedded system enables the development of new technologies that increase energy efficiency and safety and improve the quality of life. Additionally, the proliferation of IoT devices increases the need for embedded systems to manage and control connected devices. The global embedded systems market trend is expected to grow as smart technology continues to expand into new areas and applications, driven by the need for smart, connected solutions in cities and homes.
For instance, in January 2024, NXP Semiconductor expanded its single-chip automotive radar family with the SAF86xx, which combines a radar transceiver, processor, and MACsec device for secure automotive ethernet communications. The development enables radar to be identified and expands the capabilities of the embedded system with the new generation ADAS architecture.
<h2 style="text-align: justify;">Government Initiatives Fostering Revenue Growth</h2>
Government initiatives play an important role in improving revenue generation in the revenue market through various mechanisms. Investments in subsidies and development subsidies, tax breaks, and subsidy programs encourage companies to innovate and use established technologies. Public-private partnerships accelerate development in critical sectors such as healthcare, transportation, and defense by strengthening partnerships between government agencies and industry.
Moreover, the management is working on developing smart infrastructure, IoT connected industry, and Industry 4.0 strategy to provide a better system connected environment. As a reaction to this development in business operations, governments around the world are recognizing the economic potential of embedded systems, leading to policies that support technological change and innovation. As a result, companies in the established market benefit from greater opportunities, reduced barriers to entry, and an environment that supports growth and competition.
For instance, in May 2023, the United States National Science Foundation (NSF) and India's Ministry of Electronics and Information Technology (MeitY) signed an Implementation Arrangement as a significant move, fostering research collaboration. The framework promotes joint proposals by the United States and Indian researchers in embedded systems, with funding provided by NSF and MeitY respectively.
<h2 style="text-align: justify;">North America Dominates Embedded System Market</h2>
North America dominates the embedded systems market as the region has a strong technology infrastructure and a thriving ecosystem of modern companies specializing in embedded technology. North America is home to many industries where embedded systems are widely used, such as automotive, aerospace, and medical. Furthermore, the region benefits from strong government support in research and development, innovation, and market development. Additionally, North America is beginning to embrace emerging technologies, such as IoT and artificial intelligence, increasing the need for technology. The presence of semiconductor manufacturers and chip designers in the region contributes to regional dominance. Overall, North America's combination of technological excellence, industry leadership, government support, and innovation culture place the country at the forefront of the market.
For instance, in September 2023, Microchip Technology Inc. achieved a milestone in its USD 800 million project to triple production capacity at its Gresham, Oregon site, supporting increased manufacturing in the United States amid rising semiconductor demand.
Future Market Scenario (2024 &ndash; 2031F)
According to the global embedded system market analysis, the embedded systems market will be characterized by innovations driven by developments in artificial intelligence, Internet of Things, computing, and 5G connectivity, which will enable progressively more connected devices. The widespread use of IoT devices in the industry will increase the power of embedded systems, facilitate communication and data exchange between devices, and enable the emergence of more efficient and intelligent systems.
In addition, the shift to informatics will occur to process data close to the source, reduce delays, and increase decision-making efficiency, and promote the integration of embedded systems and terminal equipment. Industries will increasingly participate in Industry 4.0 with integrated systems for automation, environmental protection and increased productivity.
Report Scope
&ldquo;Embedded System Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global embedded system market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 4.8% between 2024 and 2031
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Revenue Forecast in 2031
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USD 176.36 billion
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Segments Covered
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Component, Function, End-use Industry
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Infineon Technologies AG, Intel Corporation, Microchip Technology Inc, NXP Semiconductors NV, Qualcomm Technologies Inc., Renesas Electronics Corp, Samsung Electronics Co., Ltd., STMicroelectronics International N.V., Texas Instruments Incorporated, Toshiba Corporation
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global embedded system market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Component
<ul>
<li>Hardware
<ul>
<li>Microcontrollers</li>
<li>Microprocessors</li>
<li>Field-Programmable Gate Arrays (FPGA)</li>
<li>Digital Signal Processors (DSP)</li>
<li>Memories</li>
<li>Application-specific Integrated Circuits</li>
<li>Others</li>
</ul>
</li>
<li>Software
<ul>
<li>Operating System</li>
<li>Middleware</li>
</ul>
</li>
<li>Services</li>
</ul>
</li>
<li>By Function
<ul>
<li>Real-Time</li>
<li>Standalone</li>
<li>Mobile</li>
<li>Network</li>
</ul>
</li>
<li>By End-use Industry
<ul>
<li>Consumer Electronics</li>
<li>Automotive</li>
<li>Healthcare</li>
<li>Telecommunication</li>
<li>Industrial</li>
<li>Energy</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The embedded system market is dynamic, with key players driving advancements in technology and product innovation. Intense competition among these leaders fosters continuous improvements in storage capacities, performance, and cost-effectiveness. Collaborations, partnerships, and acquisitions will shape competitive dynamics as the embedded system market evolves. The outlook for the embedded system market remains robust with increasing data storage demands and emerging technologies, including the widespread integration of 3D NAND. These key players will continue to play pivotal roles in shaping the industry's trajectory, ensuring sustained growth and innovation in embedded systems for diverse applications.
In February 2024, Infineon Technologies AG and Honda Motor Co., Ltd. signed a Memorandum of Understanding (MoU) to establish a strategic relationship. Honda chose Infineon as a semiconductor partner to help coordinate future products and technology roadmaps. The two firms agreed to continue conversations about supply stability, as well as to foster reciprocal information transfer and collaboration on initiatives targeted at shortening the time to embedded system market for innovations.
In January 2024, Infineon Technologies AG and GlobalFoundries signed a multi-year agreement to supply Infineon's AURIX TC3x 40nm automotive microcontrollers, power management, and connectivity solutions. The partnership aims to support Infineon's business growth from 2024 to 2030, focusing on next-gen vehicle systems.
Key Players Operating in Global Embedded System Market are:
<ul style="text-align: justify;">
<li>Infineon Technologies AG</li>
<li>Intel Corporation</li>
<li>Microchip Technology Inc</li>
<li>NXP Semiconductors NV</li>
<li>Qualcomm Technologies Inc.</li>
<li>Renesas Electronics Corp</li>
<li>Samsung Electronics Co., Ltd.</li>
<li>STMicroelectronics International N.V.</li>
<li>Texas Instruments Incorporated</li>
<li>Toshiba Corporation</li>
</ul>
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Global Embedded System Market Assessment, Opportunities and Forecast, 2017-2031F

Global embedded system market is growing due to increasing demand for IoT devices, automation, and smart technologies. Key drivers include advancements in microprocessor technology, rising connectivity needs, and expanding applications across industries.

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