Albany, NY -- (SBWIRE) -- 05/12/2017 -- Transparency Market Research (TMR) has announced the release of a new report on the global embedded systems market. The report examines the historical trajectory of the global market and presents detailed forecasts regarding the market's development from 2015 to 2021. The report examines the competitive dynamics, segmentation, and major drivers and restraints of the global embedded systems market in order to provide a complete overview. The report is titled 'Embedded System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021' and is available for sale on the official website of TMR.According to the report, the global embedded systems market was valued at US$152.9 bn in 2014. Exhibiting a sturdy 6.4% CAGR between 2015 and 2021, the market is expected to reach a valuation of US$233.1 bn.

Embedded systems are a purpose-specific combination of hardware and software designed to manage and optimize a specific device. The development of microcontrollers led to embedded systems becoming a crucial part of the global industrial scenario, since microcontrollers are used in a wide variety of industries for various purposes. Currently, the major application segments of the global embedded systems market are telecommunication, automotive, space and aeronautics, electronic payment, and railways.

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The increasing demand for embedded systems from the global automotive industry is a major factor for the global embedded systems market. Due to the increasing technological sophistication of automobiles, the demand for various ergonomic enhancements is increasing. Embedded systems are crucial in ensuring these added components function flawlessly. The automotive industry is the largest application segment of the global embedded systems market and is expected to retain the top position through the forecast period.

Another major application area of embedded systems is consumer electronics. The increasing demand for smarter and more power-efficient devices is a key driver for the global embedded systems market and is expected to remain an influential factor in the coming years.

The increasing adoption of the Internet of Things is another key trend driving the demand for embedded systems. Among the various types of smart devices enjoying steady demand, smart electricity meters are expected to be a major application segment of the global embedded systems market in the coming years.

By functionality, the global embedded systems market can be segmented into standalone, networked, real time, and mobile embedded systems. Of these, real time embedded systems accounted for the largest share in the global market in 2014 due to their growing demand from major end-use industries such as automotive and consumer electronics.

By type of microcontroller, the global embedded systems market can be segmented into small scale, large scale, and medium scale embedded systems. Of these, the compromise between functional characteristics and price achieved by medium scale microcontrollers has led to their growing use in embedded systems.

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Regionally, North America held the dominant share in the global embedded systems market in 2014 due to the high demand for smart devices and the consistent demand for technological innovations and the adoption of advanced solutions. Asia Pacific is set to remain the second largest regional market for embedded systems through the forecast period due to the increasing demand in countries such as China, South Korea, and Taiwan.

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