embedded systems market

Embedded Systems Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

WILMINGTON, DELAWARE, UNITED STATES, February 1, 2024 /EINPresswire.com/ -- Embedded Systems Market by Component (Hardware, Software), by Application (Automotive, Consumer Electronics, Industrial, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.

The global embedded systems market was valued at $89.1 billion in 2021, and is projected to reach $163.2 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.

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An embedded system is a physical computer system with integrated software that uses a semiconductor microprocessor to carry out a particular task as a stand-alone or large-scale system. The central component of embedded systems is an integrated circuit designed to advance compute activities and processes in real-time. Embedded systems can be simple to use through simply linked peripherals to complicated connected microcontrollers, from no UI to realistic graphical UI. They can be constructed at any level of deep collaboration, depending on their duties. Currently, embedded systems have been increasingly used in consumer electronics and electric vehicles. Embedded systems engineer are revolutionising the embedded system design process and altering the way data centres are managed. These chips allow critical tasks to be transferred from software to hardware in order to save power, which is critical for power-sensitive embedded systems applications.

The following variables significantly influence the growth of the global embedded systems industry which is, rise in the number of embedded systems-related research and development initiatives, as well as the demand for ADAS in EV and hybrid vehicles. Additionally, the market opportunity is anticipated to be driven by the demand for multicore CPUs in military applications. The market's expansion is, however, hampered by the rising vulnerability of embedded systems to security flaws and cyberattacks. The advent of 5G, the development of embedded devices based on 5G, and the widespread use of embedded systems in smart homes, on the other hand, are anticipated to present prospective growth opportunities for the global embedded systems market during the forecast period.

The outbreak of COVID-19 has significantly impacted the growth of global embedded systems market in 2021, owing to a significant impact on prime players operating in the supply chain. However, increase in ADAS in EV and hybrid vehicles and Increase in the number of embedded systems-related research and development projects globally acts as one of the major factors that propelled the market growth during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects, owing to partial or complete lockdown globally. Furthermore, rise of 5G and development of 5G based embedded devices is expected to grow for a long period.

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Competitive Analysis:
The embedded systems industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the embedded systems market include,

➡️Infineon Technologies,
➡️STMicroelectronics N.V.,
➡️Microchip Technology Inc.,
➡️Qualcomm Incorporated,
➡️Cypress Semiconductors,
➡️Intel Corporation, NXP Semiconductors,
➡️Analog Devices Inc.,
➡️Texas Instruments Inc.,
➡️Renesas Electronics

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Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.

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Key Benefits for Stakeholders:

➡️This report provides a quantitative analysis of the embedded systems market size segments, current trends, estimations, and dynamics of the embedded systems market analysis from 2021 to 2031 to identify the prevailing embedded systems market opportunities.
➡️The embedded systems market outlook is offered along with information related to embedded systems market share key drivers, restraints, and opportunities.
➡️Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➡️In-depth analysis of the embedded systems market segmentation assists to determine the prevailing market opportunities.
➡️Major countries in each region are mapped according to their revenue contribution to the global market.
➡️Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➡️The report includes the analysis of the regional as well as global embedded systems market trends, key players, market segments, application areas, and market growth strategies.

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