Global Embedded Systems Industry 2014 to 2020 – Market Estimate
The global embedded systems market is expected to reach USD 214.39 billion by 2020, according to a new study by Grand View Research, Inc. Favorable regulatory scenario for installation of smart devices such as smart meters is expected to drive global embedded system demand over the forecast period. Growing adoption and evolution of the Internet of Things (IoT) driven by technological advancement is also expected to fuel the industry over the next six years.
Increasing demand for end-use industries such as healthcare and consumer electronics is expected to positively impact the embedded systems market. Key requirements for an efficient embedded system include high degree of reliability and responsiveness as well as low cost, since these devices are embedded in safety critical systems. Decreasing prices of microcontrollers, which are a key component of embedded hardware, is expected to give impetus to the market in the coming years.
The report “Embedded System Market Analysis By Product (Hardware, Software), By Application (Automotive, Telecommunication, Healthcare, Industrial, Consumer Electronics, Military & Aerospace) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/embedded-system-market
Further key findings from the study suggest:
• Embedded hardware is expected to remain the dominant product segment and accounted for 93.8% of the global market in 2013. It includes Digital Signal Processors (DSP), microprocessors as well as microcontrollers. Embedded software is expected to grow at the fastest rate of 8.1% from 2014 to 2020.
• Automotive is expected to continue leading the global market; the segment accounted for 20.8% of the overall market share in 2013. This can be attributed to the high electronic content in automotives coupled with growing focus on Hybrid Electric Vehicles (HEV) for energy efficiency. The market for
Increasing demand for end-use industries such as healthcare and consumer electronics is expected to positively impact the embedded systems market. Key requirements for an efficient embedded system include high degree of reliability and responsiveness as well as low cost, since these devices are embedded in safety critical systems. Decreasing prices of microcontrollers, which are a key component of embedded hardware, is expected to give impetus to the market in the coming years.
The report “Embedded System Market Analysis By Product (Hardware, Software), By Application (Automotive, Telecommunication, Healthcare, Industrial, Consumer Electronics, Military & Aerospace) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/embedded-system-market
Further key findings from the study suggest:
• Embedded hardware is expected to remain the dominant product segment and accounted for 93.8% of the global market in 2013. It includes Digital Signal Processors (DSP), microprocessors as well as microcontrollers. Embedded software is expected to grow at the fastest rate of 8.1% from 2014 to 2020.
• Automotive is expected to continue leading the global market; the segment accounted for 20.8% of the overall market share in 2013. This can be attributed to the high electronic content in automotives coupled with growing focus on Hybrid Electric Vehicles (HEV) for energy efficiency. The market for