The Embedded Systems Market is expected to be valued at USD 110.46 billion by 2023, at a CAGR of 4.05% between 2017 and 2023. The major factors driving the growth of this market include increasing adoption of embedded systems in the automotive industry, use of multicore processor technology in military applications, growing market for wearable devices, increase in usage of embedded systems in smart appliances of smart homes, and rising demand for embedded systems in healthcare equipment.
The Internet of Things (IoT) has already revolutionized the consumer application industry. Large research and development (R&D) investments, acquisitions, and funding in IoT research projects are driving the growth of the IoT market. To cater to future opportunities in the IoT ecosystem, microprocessor manufacturers are acquiring companies working on IoT solutions. This factor would further propel the growth of the embedded systems market during the forecast period. This report segments the embedded systems market on the basis of hardware, software, application, and geography. The communications application accounted for the largest share of the embedded systems market in 2016.
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The need to fulfill the requirement of high data speeds for different types of data would drive the growth of the embedded systems market for the communications application in the coming years. The application-specific integrated circuit (ASIC) accounted for the largest share of the embedded systems market in 2016. This growth is attributed to the increasing adoption of ASIC in various applications such as consumer electronics, automotive, and telecommunications.
The embedded systems market for the field processing gate arrays (FPGA) is expected to grow at the highest CAGR between 2017 and 2023 Application-specific Integrated Circuit (ASICs)/Application-specific Standard Product (ASSPs) would lead embedded systems market for hardware during the forecast period
The demand for ASICs has increased because of its features and functionality, as it can design an electronic application into a single integrated circuit, which reduces the need for additional components. Hence, the adoption of ASICs is expected to increase in the coming years. Moreover, ASICs has been widely used in various applications such as consumer electronics, automotive, telecommunications, industrial, and healthcare. For instance, in the automotive industry, ASICs has been used to support mobility and connectivity, as well as improve the safety of the vehicle. The market of ASSP is expected to witness growth in the coming years. This growth is attributed to the increasing demand for ASSPs in consumer electronics as ASSPs provides images with high quality, along with the rise in the demand for ASSPs from carriers and data center technology providers.
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The automotive application would grow at the highest CAGR during the forecast period
The embedded systems market in the automotive application is expected to witness the highest CAGR from 2017 to 2023. The demand for embedded systems in the automotive application has increased due to the large-scale production of cars, as manufacturers are adopting electronic systems known as an electronic control unit (ECU) for providing driver information and communication, in-car entertainment electronics, powertrain, and body control electronics. Moreover, the current trends of embedded systems in automobiles include airbag controllers, navigation systems, satellite radio, adaptive cruise control, drive by wire, heads up displays, and advanced driver assistance systems (ADAS).
Middleware expected to hold the largest share of the overall embedded systems market in 2016
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