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Embedded Software Market Size

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

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Embedded Software Market Size

Embedded Software Market size exceeded USD 15 billion in 2022 and is poised to exhibit over 9% CAGR from 2023 to 2032, due to the rapid rise in AI and ML tech innovations.

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With steady technological advancement, the deployment of deep and machine-learning models in device software has increased. Embedded sensor-power systems, when fed with real-time data, can be trained to help recognize potential issues in hardware devices. The adoption of ML and AI tech in embedded software systems will therefore rise, to track and inspect defects and production assets of interconnected facilities. In recent years, government bodies have also been taking strategic initiatives to boost AI evolution.

Citing an instance, in May 2022, the U.S. DOE established the inaugural Artificial Intelligence Advancement Council, the first-of-its-kind, leading AI governance, innovation, and ethics charter. The growing reliance on AI technology, alongside 5G network expansion, will create lucrative growth opportunities for embedded software developers worldwide. However, prolonged device lifecycle, unreliable security updates, attack replication, and remote deployment can make embedded systems vulnerable to attacks.

Embedded Software Market Report Attributes
Report Attribute	Details
Base Year:	2022
Embedded Software Market Size in 2022:	USD 15 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9%
2032 Value Projection:	USD 40 billion
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	386
Segments covered:	Operating System, Function, Application
Growth Drivers:	Growing adoption of AI and machine learning in embedded software Increasing demand for embedded OS in the automotive sector Growing trend towards industrial automation and IIoT in developing nations Surge in demand for embedded software in consumer electronics Increasing deployment of embedded software in smartphones
Pitfalls & Challenges:	Lack of skilled professionals Safety & security issues of embedded OS

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Emphasis on automotive tech integration bolsters embedded software system production

Embedded software market size from the automotive application segment is projected to cross USD 8 billion by 2032, attributed to the rise in R&D spending on autonomous driving and ADAS technologies. Automakers such as Continental have also been targeting to add self-driving ADAS features in entry-level cars, especially in India and other emerging economies. Additionally, strategic alliances to facilitate the integration of automotive tech including in-vehicle entertainment systems and electric powertrains will promote the adoption of automotive embedded software systems.

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.