Embedded Computing Market Reaches USD 85.68 Billion in 2030, Growth and Investment Opportunities
Embedded computing system is used to control, monitor, or perform specific function of an electronic equipment by fixed set of program, plan, or rules.
PORTLAND, PORTLAND, OR, UNITED STATE, November 23, 2023 /EINPresswire.com/ — Technological advancements, reduction in prices of consumer electronics devices, and demand for innovative and high-quality embedded systems drive the growth of the global embedded computing market. However, fierce competition among regional market players and complex hardware configuration restrain the market growth. On the other hand, adoption of innovative technologies and rise in standards of living in emerging countries create new opportunities in the coming years.
According to the report published by Allied Market Research, the global embedded computing market generated $36.74 billion in 2020, and is estimated to reach $85.68 billion by 2030, witnessing a CAGR of 9.1% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Covid-19 Scenario:
• There has been a rapid surge in the demand for cloud-based embedded computing solutions to support the businesses processes during the Covid-19 pandemic. In addition, the pandemic led businesses around the globe to adopt the remote working culture, which in turn, surged the demand for embedded computing solutions.
• The embedded computing solution plays a crucial role in maintaining the business processes efficiently and keeping excellent connectivity between the connected devices. This was achieved through various features of embedded computing solutions including digital data exchange, remote access, and real-time data analytics.
The report offers detailed segmentation of the global embedded computing market based on type, end-users, and region.
Based on type, the hardware segment contributed to the highest market share in 2020, accounting for more than three-fourths of the total share, and is estimated to continue its lead position during the forecast period. However, the software segment is expected to manifest the largest CAGR of 12.5% from 2021 to 2030.
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Based on end users, the communications segment accounted for the highest share in 2020, contributing to more than one-fourth of the total share of the global embedded computing industry, and is estimated to continue its leadership status during the forecast period. However, the automotive segment is projected to witness the largest CAGR of 12.9% from 2021 to 2030.
Based on region, Asia-Pacific, followed by North America, held the largest share in 2020, accounting for around one-third of the total market share, and is estimated to continue its dominance in terms of revenue by 2030. Moreover, this region is expected to portray the largest CAGR of 11.7% during the forecast period. The report also analyzes the regions including Europe and LAMEA.
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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.
Key Market Players:
• Arm Holdings Plc.
• Intel Corporation
• Fujitsu Limited
• Microchip Technology, Inc.
• IBM Corporation
• Qualcomm Incorporated
• Microsoft Corporation
• STMicroelectronics
• Renesas Electronics Corporation
• Texas Instruments Incorporated.
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Similar Report:
1. Embedded Computing Module Market
2. Next Generation Computing Market
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