Embedded Systems Market size to surpass $250 Bn by 2032

Embedded Systems Market size is anticipated to surpass USD 250 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Robust developments in advanced mobility solutions, automotive safety systems, and electric vehicles will facilitate the industry growth. Awareness regarding the safety benefits of advanced automotive features like ADAS and AEB has spiked the demand for embedded systems and components like microprocessors, microcontrollers, memory, and FPGAs across the automobile sector. Automotive manufacturers are aggressively focusing on ramping up the production of electric vehicles.
 

Modernization of the industrial sector is set to be another major factor driving the industry expansion. The use of advanced technologies like industrial robots and automated systems has broadened the application scope of embedded systems across production plants. These systems are rigged with complex semiconductor components such as microprocessors and FPGAs that enable high accuracy and high-efficiency features. The emerging trend of industrial robots such as delta robots, cartesian coordinate robots, articulated robots, and SCARA robots will foster the industry development.
 

Extensive R&D initiatives for designing digital signal processors

Embedded systems market share from the digital signal processor segment was valued at USD 1.5 billion in 2022. Digital signal processor chips are largely used in consumer electronics like smartphones and high-definition televisions (HDTV). The advancement in telecommunications, digital image processing, radar, sonar, and speech recognition systems have elevated the significance of these components. Rising sales of consumer electronics and the mounting need for faster communication technologies will reinforce the demand for digital signal processors.
 

Growing demand for compact smart devices

Based on function, embedded systems market from the standalone system segment is predicted to witness over 5% CAGR between 2023 and 2032, driven by the spike in the use of standalone embedded systems to enhance performance, reduce power consumption, and control operations in challenging environments. Standalone embedded systems can function without a host system. Mp3 players, digital cameras, video game consoles, and temperature measurement systems are a few of the devices are that powered using these embedded systems.
 

Browse key industry insights spread across 310 pages with 285 market data tables and 41 figures & charts from the report, “Embedded Systems Market Size, By Component (Hardware, [ASIC & ASSP, Microcontroller, Microprocessor, Power Management Integrated Circuit (PMIC), Field Programmable Gate Array (FPGA), Digital Signal Processor (DSP), Memory], Software (OS, Middleware)], By Function (Standalone System, Real-Time System, Network System, Mobile System), By Application (Automotive, Consumer Electronics, Manufacturing, Retail, Media & Entertainment, Military & Defense, Telecom, Others), 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-system-market
 

Shift toward high-speed internet technology

Telecom application segment is projected to register 6% CAGR during the forecast timeline. Embedded systems are widely used in ethernet devices, protocol converters, routers, and broadcast infrastructures for high-speed data shifts to support the expanding communication infrastructures. Installation of smart video surveillance systems in automobiles, the adoption of internet of things (IoT) technology, and the introduction of 5G technology will augment the application of embedded systems in telecom application.
 

Favourable government initiatives to support the Europe industry

Europe embedded systems market is estimated to expand at 5% growth rate through 2032. Supportive government measures will assist local semiconductor manufacturing sector to expand their production capacity. For instance, the European Union's Horizon 2021 programme for research and innovation, with funding of USD 94.22 billion, aims to draw domestic and international investment into the semiconductor sector. Given to this program, the region is anticipated to receive significant investments from embedded systems manufacturers, creating new business opportunity for local product suppliers.
 

Strategic expansion efforts to boost the market expansion

Some of the leading players in the embedded systems market include Infineon Technologies, NXP Semiconductors, Analog Devices, On Semiconductor, Renesas, Qualcomm, Intel Corporation, Samsung Electronics, Texas Instruments, Toshiba Corporation, and STMicroelectronics.
 

These companies are focusing on launching new systems to expand their product portfolio. For instance, in September 2022, Marvell released its LiquidSecurity 2 hardware security module (HSM) adapter that provides high-performance cryptographic acceleration and processing, as well as 45 partitions for multi-tenant use cases and hardware-secured storage of up to 1 million encryption keys for RSA, AES, and ECC encryption algorithms.