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 embedded systems 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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