Global Embedded Computing Market Growth Factors, Applications, and Forecast by 2024-2032

Embedded Computing Market Size And Forecast

Embedded Computing Market size was valued at USD 36,167.75 Million in 2022 and is projected to reach USD 59,141.84 Million by 2030, growing at a CAGR of 5.41% from 2024 to 2030.

The Embedded Computing market is growing as people become more aware of the depletion of their environment and the demand for electric and hybrid vehicles increases. The automotive industry was restructured and embedded systems played an important role. These systems are used in ADAS technology for electric and hybrid vehicles. The global market is likely to be driven by increased demand for devices such as smart meters during the forecast period. This is because the devices use embedded systems to provide clarity and functionality.

Another important reason for the market’s growth is the increasing demand for smartphones, laptops, desktop computers, communication devices, and other devices worldwide. In addition, increasing urbanization and increasing disposable income levels will contribute to economic growth. Another important factor affecting the growth of the market is the rise of the Internet of Things (IoT) and artificial intelligence. The demand for wearable devices and the increasing demand for optical devices in the medical Industry Verticals will not affect the growth of the market. Increasing adoption of business automation and robotics will lead to established product growth.

Global Embedded Computing Market Definition

Embedded refers to the integration of computer systems into devices and equipment, enabling them to perform special functions or operate independently. It involves the use of microprocessors or microcontrollers embedded in these devices, providing computing power and intelligence. These embedded systems are designed to efficiently and reliably perform certain tasks, often in real-time and space constraints. Power tools, automobiles, machinery, medical equipment, etc. they can be found in many applications. Embedded computing plays an important role in improving the electronics, control, connectivity and intelligence of countless modern devices, contributing to the development of the Internet of Things (IoT) and enabling smart and connected devices.

Global Embedded Computing Market Overview

In normal development cycles, embedded industrial systems connected to the internet and the cloud take weeks or months to deploy. Therefore, cloud connectivity tools for embedded systems are important tools to simplify the process of connecting systems to cloud services by reducing hardware requirements. Embedded systems are task-specific, meaning they are designed to perform a single task rather than multiple tasks. While the exact design of the embedded system depends on its intended function, most embedded systems have a CPU, power supply, memory, and communications. There are many advantages to using an embedded system.

For example, they are flexible and inexpensive, so they are easy and inexpensive to adjust to suit the job and needs. They also use very little electricity and reduce the overall energy consumption of the system. Embedded systems are task-specific, meaning they are designed to perform a single task rather than multiple tasks. While the exact design of the embedded system depends on its intended function, most embedded systems have a CPU, power supply, memory, and communications.

There are many advantages to using an embedded system. For example, they are flexible and inexpensive, so they are easy and inexpensive to adjust to suit the job and needs. They also use very little electricity and reduce the overall energy consumption of the system. In addition, reducing power consumption, visualization tools with real-time data, and deep learning applications are an important future for computing. For example, in October 2018, GE introduced its new product line by releasing two new management systems. Leveraging the combined power of edge management and analytics to drive intelligence across the business ecosystem.

In the current market, there are about 30-35 microcontrollers in a car and 70-75 microcontrollers in a luxury car. These include airbag systems, onboard navigation systems, adaptive cruise control, built-in rain detection systems, and more. The embedded computing system plays an important role in many applications in the medical industry. They are used to monitor vital signs, and amplify sounds in electronic stethoscopes, and in all types of tests, including PET scans, CT scans, and MRIs.

Global Embedded Computing Market: Segmentation Analysis

The Global Embedded Computing Market is segmented on the basis of Component, Industry Vertical, and Geography.

Embedded Computing Market, By Component

• Software
• Hardware

Based on Component, The market is segmented into Hardware and Software. The hardware segments I selected dominate the market in the forecasted period. The rise in consumer electronics and the demand for higher performance and more features are driving the global microcontroller market. The focus on the increased use of electronic devices in the process and non-standard industries is expected to generate a large demand for microcontrollers during the forecast period. These factors have led to the steady growth of the inclusive economy.

Embedded Computing Market, By Industry Vertical

• Automotive
• Consumer Electronics
• Industrial
• Telecommunication
• Others

Based on Industry Vertical, The market is segmented into Automotive, Consumer Electronics, Industrial, Telecommunication, and Others. Both new products and existing products can take advantage of embedded systems to improve the manufacturing process. With the rapid development of microprocessors, the machine control and monitoring system is also improving, supporting more communication, activation, and control. In addition, the spread of Industry 4.0 has had a positive impact on business development and therefore supports large-scale business volume in the industry. Therefore, these factors have led to the adoption of embedded computing in various vertical industries

Embedded Computing Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

Based on Geography, The market is segmented into North America, Europe, Asia Pacific, and the Rest of the world. North America dominates the embedded systems market in terms of market share and market revenue and will continue to dominate throughout the forecast period. This is due to the growing demand for connected and smart devices and more companies manufacturing in the region. In addition, the increase in the use of Internet of Things (IoT) technologies will increase the growth of the market in this region. On the other hand, due to increased use in many industries including transportation, energy, healthcare and other fields. Most embedded computing demands come from the automobile and electronics manufacturing industries. This diversity supports the use of technology, thus creating a large market for existing technology, which in turn leads to the growth of the Chinese economy.

Likewise, advances in consumer electronics, automotive electronics, and communications technology have increased the demand for advanced technology that creates timely information collection. The country has seen massive growth in many industries, including the transportation industry, food processing industry, and the oil and coal industry. In Canada, there are many business automation companies nationwide that specialize in the ICT industry. For example, IBM Microelectronics’ Juniper Networks, Inc. has an agreement with Designing, manufacturing, selling, and purchasing semiconductor products, including ASICs. Also in 2019, Intel Corporation announced today that it has acquired Omnitek, a leader in optimized video and visual FPGA IP solutions. These business plans and expansion plans are expected to continue throughout the forecast period and result in high job growth in the regional market.

Key Players

The “Global Embedded Computing Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Arm Holdings Plc., Intel Corporation, Texas Instruments Incorporated Fujitsu Limited, Microchip Technology, Inc., IBM Corporation, Qualcomm Incorporated, Microsoft Corporation, STMicroelectronics, Renesas Electronics Corporation, and Others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In August 2019, IBM is partnering with MIT to provide approximately $12 million in AI computing. The machine will allow MIT researchers to run smarter models. This helps increase their computing power and allows researchers to exchange data with all major cloud computing providers and prepare their code to run on IBM’s Summit supercomputer.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Embedded Computing Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The Porter’s five forces model can be used to assess the competitive landscape in Global Embedded Computing Market gauge the attractiveness of a certain sector, and assess investment possibilities.