Embedded Software Market size to reach $40 Bn by 2032

Embedded Software Market size is anticipated to cross USD 40 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The report indicates that the integration of IoT and real-time operating systems in automobiles will boost the acceptance of embedded software architecture. Since vehicle features are becoming increasingly software-controlled and with consumers shifting preference towards electric vehicles, a dependable RTOS has become an essential tool. Based on statistics from the Society of the Irish Motor Industry, in November 2022, 343 EVs were registered, an increase from 190 registrations in November 2021. Furthermore, rapid automotive modernization and improvements in ADAS technology will fuel automotive embedded software adoption to control advanced functions.
 

Low latency & multiple task management attributes to propel embedded GPOS demand

The embedded software market value from the general-purpose operating system (GPOS) segment dominated around USD 9 billion revenue in 2022. Reduced latency, high synchronization, enhanced security, and multiple tasks management are some of the capabilities contributing to the increased usage of GPOS platforms such as Mac OS, Linux, and Windows. The report also reveals that major GPOS can establish a user-friendly interface and create a great level of flexibility, thereby bolstering its adoption in consumer products and proliferating embedded software development.
 

Escalating healthcare spending & automation to promote use of real-time embedded systems

The market share from the real-time system function segment will exhibit over 10% CAGR through 2032, due to the broad application scope in satellite communications and robotic and automation systems. Real-time embedded software is also leveraged in medical systems for use in patient monitoring, heart treatments, and radiation therapy. As per the report, the rise in spending on cancer care and the growing burden of chronic diseases are thus likely to boost the deployment of real-time embedded systems across the healthcare sector.
 

Browse key industry insights spread across 250 pages with 347 market data tables and 39 figures & charts from the report, “Embedded Software Market Size, By Operating System (General Purpose Operating System (GPOS) {Windows, Linux, Android}, Real Time Operating System (RTOS) {VxWorks, QNX, FreeRTOS, ARM Mbed}), By Function (Standalone System, Real Time System, Network System, Mobile System), By Application (Automotive, Consumer Electronics, Manufacturing, Healthcare, Military & Defense, IT & Telecom), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/embedded-software-market
 

Embedded vision and intelligent systems to gain traction for military applications

Based on the application, the embedded software market size from the military and defense segment is slated to be worth over USD 2 billion by 2032, given the emergence of combat vehicles as a top modernization priority for defense forces worldwide. According to the fiscal 2023 budget justification documents, the U.S. Army planned to spend nearly USD 750 million on light robotic vehicles over the next 5 years. Such initiatives are likely to promote embedded software development since battle-ready and autonomous military vehicles implement solutions such as embedded vision systems to create next-level autonomy and visibility.
 

Europe to emerge as a profitable hub for embedded software developers

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The Europe embedded software market share is poised to register 8% CAGR during the forecast timeframe, driven by the increasing usage of microcomputers, tablets, and other handheld devices in the manufacturing sector. Moreover, the emphasis on digitalization in the healthcare sector has increased over recent years. For instance, in February 2021, the Italy-based Cancer Institute and Healthware Group partnered to leverage digital technologies to deliver personalized treatments for cancer patients. Furthermore, the introduction of remote monitoring initiatives will drive the use of embedded software tools across the region.
 

Strategic collaborations among industry participants to influence the industry trends

Major players involved in the embedded software market include Texas Instruments, Renesas Electronics Corporation, Mitsubishi Electric Corporation, Microchip Technology Inc., Intel Corporation, Accenture, Intellias Ltd., Emerson Electric Co., Dexcel, and Siemens. These firms are incorporating strategies such as product range and business expansions to strengthen their presence in the market.
 

For instance, in January 2022, KPIT Technologies and dSPACE collaborated to provide a comprehensive solution test suite for smart charging. This suite was designed through the combination of KPIT conformance test libraries for the DS5366 Smart Charging Interface, a hardware component. Similar initiatives from other companies are also likely to stimulate the industry growth.