Industry Insights
Embedded systems are systems that are programmed to meet the
necessities of the target system in which they are fixed. Increasing
demand for smart electricity meters is anticipated to boost the market
over the next five years. The requirement for smart meters is expected
to grow significantly over the forecast period, on the basis of energy
efficiency policies, thus giving impulsion to the market growth.
Technological advancement as well as declining prices of microcontroller
units is also projected to positively impact the embedded systems
market over the next six years.
Embedded systems are used in several end-use industries including
consumer electronics and healthcare is expected to drive market growth
over the forecast period. The global embedded systems market was
esteemed at USD 140.56 billion in 2013, and is anticipated to achieve
USD 214.24 billion by 2020, rising at a CAGR of 6.3% from 2014 to 2020.
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Product Insights
Embedded hardware covered over 93% of the market share in 2013, and
is projected to dominate the market over the estimated period. Product
includes microcontrollers, Digital Signal Processors (DSP),
microprocessors and others. Embedded software includes middleware tool
and operating system (OS). Embedded systems have real-time restraints
since they are used for a variety of safety vital purposes. This has led
to the requirement for proficient software modified for the target
purpose. This sector is likely to rise at a CAGR of 8.2% from 2014 to
2020.
Application Insights
Automotive applications covered over 20.5% of the overall market in
2013 and are projected to remain the largest sector over the forecast
period. In automotive industry, embedded systems are used for safety,
infotainment, and engine control among others. Growing demand for
vehicles outfitted with car-to-road communication facilities and
efficient navigation is estimated to drive the market. Furthermore,
shifting focus towards hybrid electric vehicles (HEV) and electric
vehicles (EV) to control emission is estimated to fuel embedded system
market growth. Healthcare is anticipated to be the fastest rising
application, at a CAGR of 7.41% from 2014 to 2020.
Handheld and Portable medical equipment and devices such as essential
signs monitoring systems make wide use of embedded systems. Consumer
electronics including HVAC (heating, ventilation, and air conditioning),
microwave ovens and mobile phones, uses embedded software and hardware
is projected to nurture the market over the next five years. Industrial
applications include infrastructure, energy, and process control among
others. Data feedback and acquisition control systems for automation are
anticipated to provide positive avenues to market growth for industrial
applications.
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Regional Insights
North America was the major regional market in 2013 and is likely to
uphold its leadership place over the forecast period. Asia Pacific
market is estimated to grow at the CAGR of 6.27% from 2012 to 2020. This
is made probable by the significant number of trained professionals
engaged in software development in this region.
Competitive Insights
Key hardware components include microcontrollers, DSPs and
microprocessors. Key market players include Freescale Semiconductor,
Renesas Electronics, Intel Corporation, Qualcomm, Atmel and Samsung
Electronics Corporation among others. Market players operating in the
market report net revenue generated from segments including industrial,
automotive and multi-market segments includes telecommunication,
consumer electronics, healthcare, etc.
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