Embedded Technology Market Subjected to Expand to Showcase Rampant Growth by 2027
Embedded Technology is an integration of hardware & software
designed for a specific function or for specific functions within a larger
system. In other words, embedded technology is
application specific system serving in various industries such as automotive
and telecommunication sectors where software plays an important role hand hence
the security for system becomes challenging.
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Electrical and electronic circuits and kits are designed to use
embedded technology. Also, the computers, tablets, mobile phones,
laptops, digital electronic systems, and other electrical and electronic
gadgets are designed using embedded technology. With such widened uptake and
demand, it is needless to say that the embedded technology market is expanding
constantly.
Market Research Future (MRFR), in its recently published research
report, asserts that the global embedded technology market is booming and expected
to grow exponentially by 2027, registering a striking CAGR throughout the
forecast period 2017-2027.
Growing application
areas and high adoption of cloud computing are playing a vital role in the
growth of the market. With every technology inside automobiles and
airplanes evolving dramatically, the need for embedded technology and cloud
computing is expected to rise subsequently. Engineers are embracing the
new-generation tools that can automate the generation and verification of
robust, safe system architectures.
Additional factors
substantiating the market growth include the growing implementation of embedded
technology to lower the operational cost, and the increasing awareness about
the system.
On the other hand,
technical complexity and incompetence are some of the factors bottlenecking the
market growth. Also, the high cost of hardware and software are expected to
impede the market growth of the market.
Global
Embedded Technology Market - Segments
The MRFR analysis is
segmented into five key dynamics:-
By
Platforms
: Mobile, Web, On-Cloud and On-Premise.
By Hardware : Processor
IP, Microcontrollers & Microprocessors (MCU/MPU), Digital signal
processors, Application-specific integrated circuit (ASIC), and Field
processing gate arrays (FPGA) among others.
By
Software
: Operating Systems, Testing software, Open Source Software, and Software
Development among others.
By
Applications : Automotive, Consumer Electronics, Aerospace
& Defence, Telecommunication, and Healthcare among others.
By
Regions : North
America, Europe, APAC and the Rest-of-the-World.
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Global
Embedded Technology Market - Regional Analysis
The Asia Pacific
region is dominating the global embedded technology market due to the growing
consumer electronics market. Burgeoning sectors such as automotive, and
telecommunication, especially in China and India are the key driving forces
accounting for the market growth in the region. Also, players located in China
and Japan are investing heavily in the development of efficient technologies
which in turn, substantiates the market growth in the APAC.
North America region
is emerging as a lucrative market for the embedded technology, mushrooming
rapidly. The presence of global players which provide a competitive advantage
to the U.S. and Canada along with the growing IT industry in these countries
are driving the market of embedded technology in North America. Besides,
factors such as the augmented demand for new technological solutions and the
increasing competition among developers in the region are substantiating the
market growth.
Europe is expected to
demonstrate steady growth in the market of the embedded technology. Growing
defense, automotive and healthcare sectors are leading to the high adoption of
on-premises, and on-cloud embedded technology that fosters the market growth in
the region.
Global
Embedded Technology Market - Competitive Landscape
Characterized by the presence of numerous large and small players,
the global market of embedded technology appears to be highly competitive.
Well-established players incorporate collaboration, acquisition, partnership,
technology launch, and expansion in order to gain a competitive advantage over
the other market players. These players strive to provide a combined open
source and industry-leading solutions irrespective of the deployment of the
technology on- cloud, and on-premises.
Key Players:
Some of the eminent players leading the global embedded technology
market are Renesas Electronics Corporation (Japan), Texas Instruments (US),
STMicroelectronics (Switzerland), Microsoft Corporation (US), Samsung (South
Korea), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands),
Renesas Electronics Corporation (Japan), Atmel Corporation (US), and Infosys
Ltd. (India).
Industry/Innovation/Related
News:
August 28, 2018 –
Technologic systems (US), an embedded systems solutions company producing
single board computers announced that it would be showcasing its Single Board
Computers, Touch Panel PCs, and Computer-on-Modules at Sensors Midwest, to be
held October 16-17, 2018 at Donald E Stephens Convention Center. The company
will have live demonstrations, hardware samples, and engineers to answer any
questions.
August 20, 2018 -
EyeLock LLC (US), an acknowledged leader in advanced iris-based authentication
for the IoT announced the integration of embedded iris recognition technology
into VICKI™, ViaTouch Media's auto-retail solution that has been designed to
change the vending landscape by implementing highly secure transactions and
access control.
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