Embedded Software Market, By Operating System, Function, Application and Region-Forecasts, 2024

Sellbyville, DE -- (SBWire) -- 02/16/2019 --Embedded Software Market is driven by a surge in the adoption of IoT-enabled devices that helped the enterprises to offer enhanced connectivity & technological solutions and handle large-scale data used in complex architectures such as aircraft, drones, and autonomous cars. An increase in the demand for smart and connected devices in the automotive & healthcare industry is projected have a positive impact on the market. The healthcare industry is one of the fastest industries to adopt IoT-enabled embedded OS into medical devices, helping the medical personnel to improve the quality and effectiveness of services offered to their patients. Global Embedded Software Market was estimated at over USD 11 billion in 2017, and is set to reach USD 19 billion by 2024; according to a new research report by Global Market Insights, Inc.

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The increase in demand for open-source Linux software and open-source RTOS software is expected to offer lucrative growth to the embedded software market. As per GMI analysis, the worldwide shipment of open-source real-time operating systems has increased by 8.5% in 2017 as compared to 2016. The use of real-time systems enables the user to develop functional firmware in highly compressed timescales. Moreover, it also supports the custom Board Support Package (BSP) as per the user's requirement. The primary advantage of open source RTOS is low power consumption that helps MCUs to increase the processing speed by around 20%.

The RTOS segment in embedded software market is projected to register a CAGR of more than 11% due to a surge in the demand for special-purpose hardware using real-time systems such as ThreadX, Windows CE, Fusion RTOS, LynxOS, and VxWorks. The RTOS-enabled software uses a round-robin scheduling process that reduces the hog in the CPU and performs an error-free process in real-time. Such systems offer mission-critical and safety-critical applications to various industry verticals such as military, healthcare, manufacturing, and the automotive sector.

The real-time system in embedded software market is projected to register the highest growth with a CAGR of more than 12% during the forecast period. The growth in this segment is attributed to error-free task management and the use of preemptive kernel method in the system. The real-time system is classified into two types, soft and hard. The soft RTS offers less accuracy and strictness on time while hard RTS delivers the exact output at the required time.

The manufacturing sector held more than 23% embedded software market share in 2017 due to the evolution of Industry 4.0 manufacturing with seamless IoT connection. A surge in the demand for IoT-enabled OS allows the manufacturers to remotely monitor the product's statistics and automate the device-to-analytics data flow. The adoption of RTOS software facilitates the enterprises to monitor the changes in the production on a real-time basis, increasing the operational excellence in the manufacturing sector. In July 2016, Advantech launched 7" WebOP-2070T TFT that supports WVGA operator panel with web access/HMI software. This strategic move helped the company improve the manufacturing efficiency and decrease its labor cost.

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The Asia Pacific embedded software market is expected to record a CAGR of more than 10% over the forecast period. In July 2018, Chinese chip manufacturer, Chengdu Haiguang IC Design Co., has started the development of the x86 processors named "Dhyana" that includes their operating system. This strategic move helped the Chinese manufacturers to reduce their dependence on the operating systems of the U.S. A surge in disposable incomes of developing countries including India, Japan, and South Korea will also augment the embedded software market.

North America accounted for the highest embedded software market share of more than 51% in 2017 due to the presence of key players of the market in this region. An increase in the number of startup companies offering innovative software solutions in the U.S. will help them continue their dominance. Moreover, a rise in the adoption of special-purpose hardware using RTOS systems, such as Fusion RTOS, Windows CE, Lynx OS, and VxWorks, will augment the embedded software market share during the forecast period.

The key players operating in the 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.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.