Embedded Systems Market is expected to reach US$ 159.44 billion by 2030
According to our latest market study on " Embedded Systems Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Component, Functionality, and Application," the market was valued at US$ 104.31 billion in 2022, and it is expected to reach US$ 159.44 billion by 2030; it is estimated to register a CAGR of 5.4% from 2022 to 2030.
Integration of 5G is Providing Opportunities for Embedded Systems Market During 2022–2030
5G is expected to empower new business models and use cases in a wide range of embedded applications, especially in the telecommunication industry. The industry is engaged in deploying large amounts of networking infrastructure, such as virtual radio access networks (vRAN). The integration of 5G networks has a transformative impact on the embedded systems market as 5G provides higher data rates, massive device connectivity, and lower latency compared to previous generations of technology. It can open up possibilities for real-time applications, large-scale IoT deployments, autonomous systems, and ultra-high-definition video streaming. Growing investment and increasing adoption of 5G in various industries such as automotive, healthcare, consumer electronics, banks, and data centers are expected to create growth opportunities in the market. For instance, telecom operators across the globe are planning to invest US$ 380 billion in the deployment of 5G by 2025 to focus on new services for consumers and enterprises. 5G allows remote monitoring and controlling of embedded system market products by facilitating tasks like remote diagnostics and maintenance.
Embedded Systems Market – by Geography, 2022
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Moreover, the technology is used to create a new system-on-a-chip (SoC) platform that helps the user deal with plane traffic, payload control, user scheduling, and front-end processing. Increasing the power of SOC platforms deepens the combination of 5G and embedded systems market products. The integration of 5G and SOC will develop a 5G chip used in embedded processors. The 5G chip supports the user in automatically limiting the capacity of the wireless communication system and sending reasonable amounts of data through the system. These chips are widely adopted by industries such as consumer electronics, healthcare, IT & telecommunications, energy & utilities, and manufacturing.
5G offers low latency in crucial applications such as autonomous vehicles and real-time industrial automation. An embedded system can process and respond to data with minimal delay by enhancing its effectiveness. 5G-engineered embedded devices used in smart camera surveillance systems deliver fast response rates, which is anticipated to create opportunities in the market during the forecast period.
Infineon Technologies AG, Intel Corp, NXP Semiconductors NV, Qualcomm Inc, Renesas Electronics Corp, STMicroelectronics NV, Texas Instruments Inc, Microchip Technology Inc, Advantech Co Ltd, and Marvell Technology Inc are among the key embedded systems market players that were profiled in the report. Several other major embedded systems market players were studied and analyzed during this market research study to get a holistic view of the embedded systems market and its ecosystem. The embedded systems market report provides detailed market insights, which help the key players strategize their growth.
The Asia Pacific embedded systems market is expected to grow at the highest CAGR during 2022–2030. Growing urbanization and increasing adoption of industrial automation are a few key factors driving the embedded systems market in the region. Embedded systems market products are widely used for industrial automation across numerous industries such as medical devices, automobiles, agriculture, industrial machines, food, and pharmaceuticals. These industries use embedded systems to supervise specific operations, including production, testing, packaging, or safety management within a more extensive electrical or mechanical system. For instance, the Industrial Transformation ASIA-PACIFIC Expo is planned to be held between 18th–20th October 2023 in Singapore. Many players across the globe, including ATS Global, are participating to exhibit their solutions for industrial automation, transformation, factory automation, and smart digital transformation. An embedded system helps manufacturers with factory automation by increasing factory productivity and efficiency. The system helps the factories optimize their machine functionalities and production line performance by allowing continuous tracking of machine health, reducing equipment maintenance costs, and improving overall product quality.
The expansion of consumer electronics industries also increases the adoption of embedded systems market products. A smartphone, personal computer (PC), internet routers, and tablet can control machines with embedded systems market products. For instance, according to International Data Corporation (IDC), in 2022, the PC market will reach 106.6 million units in APAC (including Japan and China), and the improvement in supply chain is expected to increases the demand for PCs in the near future. Embedded systems control power management by helping PCs conserve energy by regulating CPU, display, and peripherals. However, an embedded system unifies and centralizes the control over production architecture. It also enables the production process remotely by providing instant alerts in case of irregularities. Thus, the growing demand for PCs is driving the embedded systems market in the region.
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