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Embedded Software Market Analysis

Report ID: GMI478
Published Date: Jan 2023
Report Format: PDF

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Embedded Software Market Analysis

The embedded software market share from the real-time operating system segment is slated to depict over 10% CAGR through 2032, on account of the system’s broad application scope including flight control, telephone switching equipment, industrial control, and real-time simulations. The demand for VxWorks RTOS, for example, is increasing rapidly, considering the ability of the technology to save money and accelerate production. Furthermore, advantages such as maximum utilization of systems and devices and high output will escalate the usage of RTOS in embedded systems.

The embedded software market value from the mobile system functions segment will reach USD 8 billion by 2032, credited to the increasing usage of consumer electronics based on Android operating systems including tablets, smartphones, and wearable electronics. Chip developers have also expanded their product offerings over recent years. For instance, in November 2022, Qualcomm unveiled the Snapdragon 8 Gen 2 chipset, designed to power premium smartphones.

Embedded Software Market , By Region

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On the regional front, the Asia Pacific region held a 25% share of the global embedded software market in 2022, as a result of the expansion of semiconductor manufacturing facilities. For example, in February 2022, Toshiba Electronic Devices & Storage Corporation constructed a 300-millimeter wafer fabrication plant for power semiconductors at Kaga Toshiba Electronics Corporation in Japan. Such initiatives will result in the burgeoning production of consumer electronics including smartphones and in turn, strengthen the industry outlook. Furthermore, the expanding network of consumer electronics manufacturers in major Asian countries such as Taiwan, China, and Japan are also expected to drive the regional market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of embedded software exceeded USD 15 billion in 2022 and is poised to exhibit over 9% CAGR through 2023-2032, considering the rapid AI and ML tech innovations.

The RTOS segment is slated to depict over 10% CAGR through 2023-2032, on account of its usage in flight control, telephone switching equipment, industrial control, and real-time simulations.

The APAC region held around 25% of the global market in 2022, as a result of the expansion of semiconductor manufacturing facilities.

Renesas Electronics Corporation, National Instruments Corp., Mitsubishi Electric Corporation, Microsoft, L&T Technology Services Limited, Advantech Co., Ltd., and Accenture are some of the prominent players operating in the market.