Global Embedded Systems Market will explore robust size & growth during 2015-2021
Deerfield Beach, FL -- (SBWIRE) -- 10/19/2017 -- According to the report, global demand for embedded systems market was valued at USD 159.00 billion in 2015 and is expected to generate revenue of USD 225.34 billion by end of 2021, growing at a CAGR of slightly above 6.00% between 2016 and 2021. Zion Market Research has published a new report titled "Embedded Systems Market (Embedded Hardware and Embedded Software) Market for Healthcare, Industrial, Automotive, Telecommunication, Consumer Electronics, Defense, Aerospace and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021."
An embedded system is a computer system with a dedicated function within a larger mechanical or electrical system and designed typically for meeting real-time constraints. Also, an embedded system is some combination of computer hardware and software fixed in capability or programmable, that is specifically designed for a particular function. Industrial machines, automobiles, medical equipment, cameras, household appliances, airplanes, vending machines, toys and other are the uses of an embedded system. Moreover, an embedded system is a dedicated computer-based system for an application or products. It may be a part of the large system. Its software usually embeds into a ROM or flash.
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Strong demands for smarter and power-efficient electronic devices are expected to be the major drivers for the global embedded system market. Growing application of embedded systems in the automobile industry, upward demand for embedded systems with multi-core technologies and embedded graphics is expected to support the embedded systems market growth in the near future. However, security concerns related to these systems may curb the demand for the embedded system within the forecast period. Nonetheless, rising penetration of robotics is expected open new avenues for the market growth over the next few years.
The embedded system market is segmented on the basis of different products including embedded hardware and embedded software. In 2015, an embedded hardware was the largest segment in embedded system market and accounted for over 90% share of the total market.
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This segment is expected to continue its dominance in the global market throughout the forecast period. The embedded software was another key outlet for embedded system market in 2015. The embedded system market is segmented on the basis of a microcontroller such as small-scale embedded systems, medium scale embedded systems and large-scale embedded systems. The medium scale embedded systems segment dominated the market with the largest share of the total market in 2015.
A range of application segments of embedded system market includes healthcare, industrial, automotive, telecommunication, consumer electronics, defense, aerospace, and others. Automotive sector was leading segment in embedded system market and it accounted for over 17% market share of the total market in 2015. Automotive sector followed by consumer electronics and healthcare sector is also expected to show strong growth in the coming years. Automotive segment expected to continue its dominance in the global market over the forecast period due to increasing penetration of electric vehicles (EV) and hybrid electric vehicles (HEV).
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Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Demand for the embedded system was highest in North America due to the high demand for superior quality embedded software. In terms of revenue, Asia Pacific acquired the second largest share of the market globally in 2015. Asia Pacific expected to be the fastest growing region due to the existence of fabrication plants in this region.
Some of the key players in embedded system market include Intel Corporation, Samsung Electronics Corporation, Atmel Corporation, Freescale Semiconductor, Inc. Infineon Technologies, Renesas Electronics, Microsoft Corporation, Texas Instruments, Inc., NXP Semiconductors and HCL Technologies, Ltd.