Global Embedded Computing Market Size By Component (Software, Hardware), By Industry Vertical (Automotive, Consumer Electronics, Industrial, Telecommucation), By Geographic Scope And Forecast

Embedded Computing Market Size And Forecast

Embedded Computing Market size was valued at USD 36,167.75 Million in 2022 and is projected to reach USD 59,141.84 Million by 2030, growing at a CAGR of 5.41% from 2024 to 2030.

The Embedded Computing market is growing as people become more aware of the depletion of their environment and the demand for electric and hybrid vehicles increases. The automotive industry was restructured and embedded systems played an important role. These systems are used in ADAS technology for electric and hybrid vehicles. The global market is likely to be driven by increased demand for devices such as smart meters during the forecast period. This is because the devices use embedded systems to provide clarity and functionality.

Another important reason for the market’s growth is the increasing demand for smartphones, laptops, desktop computers, communication devices, and other devices worldwide. In addition, increasing urbanization and increasing disposable income levels will contribute to economic growth. Another important factor affecting the growth of the market is the rise of the Internet of Things (IoT) and artificial intelligence. The demand for wearable devices and the increasing demand for optical devices in the medical Industry Verticals will not affect the growth of the market. Increasing adoption of business automation and robotics will lead to established product growth.

Global Embedded Computing Market Definition

Imagine you have a coffee maker that can start brewing your morning coffee just by saying, "Alexa, brew coffee." This is possible because of something called embedded systems. Embedded systems are like tiny computers that are hidden inside devices like coffee makers, cars, and even medical equipment. They're designed to make these devices do special things or even operate independently. Think of them as the brains of your devices. These tiny computers give these devices the power to do specific tasks, like brewing coffee or controlling your car's engine. They're designed to work efficiently and reliably, even when the device is moving, like in a car, or under pressure, like in medical equipment. These embedded systems are all around us. They're in our power tools, washing machines, and even our toothbrushes. They're making our lives easier, more efficient, and more connected. And as we move towards a future where everything is connected, embedded systems will continue to play a huge role in creating smart and connected devices that make our lives even more convenient.

Global Embedded Computing Market Overview

In normal development cycles, embedded industrial systems connected to the internet and the cloud take weeks or months to deploy. Therefore, cloud connectivity tools for embedded systems are important tools to simplify the process of connecting systems to cloud services by reducing hardware requirements. Embedded systems are task-specific, meaning they are designed to perform a single task rather than multiple tasks. While the exact design of the embedded system depends on its intended function, most embedded systems have a CPU, power supply, memory, and communications. There are many advantages to using an embedded system.

For example, they are flexible and inexpensive, so they are easy and inexpensive to adjust to suit the job and needs. They also use very little electricity and reduce the overall energy consumption of the system. Embedded systems are task-specific, meaning they are designed to perform a single task rather than multiple tasks. While the exact design of the embedded system depends on its intended function, most embedded systems have a CPU, power supply, memory, and communications.

There are many advantages to using an embedded system. For example, they are flexible and inexpensive, so they are easy and inexpensive to adjust to suit the job and needs. They also use very little electricity and reduce the overall energy consumption of the system. In addition, reducing power consumption, visualization tools with real-time data, and deep learning applications are an important future for computing. For example, in October 2018, GE introduced its new product line by releasing two new management systems. Leveraging the combined power of edge management and analytics to drive intelligence across the business ecosystem.

In the current market, there are about 30-35 microcontrollers in a car and 70-75 microcontrollers in a luxury car. These include airbag systems, onboard navigation systems, adaptive cruise control, built-in rain detection systems, and more. The embedded computing system plays an important role in many applications in the medical industry. They are used to monitor vital signs, and amplify sounds in electronic stethoscopes, and in all types of tests, including PET scans, CT scans, and MRIs.

Global Embedded Computing MarketSegmentation Analysis

The Global Embedded Computing Market is segmented on the basis of Component, Industry Vertical, and Geography.

Embedded Computing Market, By Component

• Software
• Hardware

Based on Component, The market is segmented into Hardware and Software. The hardware segments I selected dominate the market in the forecasted period. The rise in consumer electronics and the demand for higher performance and more features are driving the global microcontroller market. The focus on the increased use of electronic devices in the process and non-standard industries is expected to generate a large demand for microcontrollers during the forecast period. These factors have led to the steady growth of the inclusive economy.

Embedded Computing Market, By Industry Vertical

• Automotive
• Consumer Electronics
• Industrial
• Telecommunication
• Others

Based on Industry Vertical, The market is segmented into Automotive, Consumer Electronics, Industrial, Telecommunication, and Others. Both new products and existing products can take advantage of embedded systems to improve the manufacturing process. With the rapid development of microprocessors, the machine control and monitoring system is also improving, supporting more communication, activation, and control. In addition, the spread of Industry 4.0 has had a positive impact on business development and therefore supports large-scale business volume in the industry. Therefore, these factors have led to the adoption of embedded computing in various vertical industries

Embedded Computing Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

The market for embedded systems, like the devices in your car or smart home, varies by region. North America stands out as the market leader, thanks to a surge in smart devices and companies setting up shop in the region. The growing use of IoT technology is also driving growth there. Asia Pacific is a close second, with China playing a major role due to the high demand for embedded systems in industries like transportation, energy, healthcare, and electronics. This demand fuels a large market for existing technology, helping to boost the Chinese economy.

Technology advancements are driving the need for cutting-edge systems that gather data quickly. This has sparked a surge in industries like consumer electronics, car technology, and communication. Canada has witnessed significant growth across various sectors, including transportation, food preparation, and energy. Numerous companies across the country specialize in the information and communications technology (ICT) industry. For instance, IBM Microelectronics' Juniper Networks has a partnership focused on semiconductors. Additionally, Intel Corporation recently acquired Omnitek, renowned for its video and visual FPGA solutions. These strategic initiatives are anticipated to fuel ongoing growth in the ICT sector and create a surge in employment opportunities within the region.

Key Players

The “Global Embedded Computing Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Arm Holdings Plc., Intel Corporation, Texas Instruments Incorporated Fujitsu Limited, Microchip Technology, Inc., IBM Corporation, Qualcomm Incorporated, Microsoft Corporation, STMicroelectronics, Renesas Electronics Corporation, and Others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In August 2019, IBM is partnering with MIT to provide approximately $12 million in AI computing. The machine will allow MIT researchers to run smarter models. This helps increase their computing power and allows researchers to exchange data with all major cloud computing providers and prepare their code to run on IBM’s Summit supercomputer.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Embedded Computing Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The Porter’s five forces model can be used to assess the competitive landscape in Global Embedded Computing Market gauge the attractiveness of a certain sector, and assess investment possibilities.