Embedded Software Market growth will be driven by increase in demand for open-source Linux software and open-source RTOS software.
Sellbyville, DE -- (SBWIRE) -- 10/12/2018 -- Embedded Software Market in automotive sector is expected to witness the highest CAGR of more than 11% over the forecast timeline due to a rise in the market prominence of embedded OS in the electric and hybrid electric vehicles. A rise in the demand for enhanced in-vehicle infotainment systems such as navigation systems, parking assistance, adaptive cruise control, and airbag system is expected to drive embedded software market.
The integration of these technologies into automobiles enables the companies to offer safety, security, and scalability to their end users. Further, the development of these technologies enables the manufacturers to stabilize the car in a critical situation and prevent the driver from steering out of control.
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Embedded Software market is projected to surpass USD 19 billion by 2024. The adoption of embedded software allows the enterprises to facilitate high energy conservation by minimizing the power consumption of traditional systems. Technological advancements paired with innovation and an increase in industrialization have helped the manufacturers to develop embedded systems with a fully functional operating system. An increase in the complexity of motherboards by using dozens of microprocessors and microcontrollers in the legacy hardware has led to the demand for operating systems across industry verticals.
An increase in the demand for IoT-enabled software development for embedded systems in the consumer electronics and healthcare industry is expected to augment the growth of the market. A rise in the use of smart wearables and web-enabled TVs to offer enhanced technological convergence in a single device is also anticipated to fuel the embedded systems market. Moreover, the escalating cost of development of complex consumer electronics has enabled the vendors to develop systems to shift over-development of systems with its own operating systems. The manufacturing of these devices enables the enterprises to reduce the development costs and maximize the functionality & performance of electronic products.
Embedded systems market in RTOS segment is projected to witness the highest market growth with a CAGR of over 11%. An increase in the market penetration of development of special-purpose hardware integrated with real-time operating systems such as Fusion RTOS, Thread X, LynxOS, and VxWorks is anticipated to have a positive impact on the growth of the market. Further, the RTOS-enabled devices allow the business to perform inter-task communications and multitasking operations without human intervention.
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Embedded systems market in The real-time systems segment is anticipated to observe the highest growth with a CAGR of over 12% during the forecast period. This growth is attributed to a rise in the demand for safety-critical hardware in the defense industry. The integration of RTS devices into existing weapons enables the manufacturers to prevent the malicious functioning of devices by the development of systems complying with DO-178B safety standards. Moreover, these devices are classified into two types, hard real-time systems, and soft real-time systems. Hard RTS devices are deterministic and have a time constraint, which means that every process needs to be completed in a given deadline. While in soft RTS devices, the system can miss some of its deadlines without affecting the overall performance of the system.
North America dominates the embedded software market with a share of more than 51% in 2017 due to the presence of key players in this region. Microsoft, Intel, and Microchip are some of the major industry leaders of the market in the U.S. Moreover, a rise in the number of startup companies offering innovative software solutions is also expected the augment the growth of the region over the forecast timeline. Canada is expected to witness the highest market growth with a CAGR of more than 7% between 2018 and 2024.
The major key players operating in embedded software market are ENEA, Green Hills Software, IBM, Intel, Microsoft, Advantech, Microchip, Mitsubishi, STMicroelectronics, Express Logic, LG CNS, Mentor Graphics, National Instruments, Segger, Texas, Renesas, HCL, Qualcomm, Toshiba, Via, Dexcel, Graphene, and Qualitat systems.
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