The embedded systems market was valued at USD 84.55 billion in 2016 and is expected to grow at a CAGR of 4.05% between 2017 and 2023.
Over the last few years, the use of embedded systems in automobiles
has increased rapidly. Owing to its versatility and flexibility,
embedded systems have become an important part of a vehicle’s electronic
system. Automotive manufacturers have used embedded systems in their
cars for different functionalities such as ignition, security, audio
systems, air bags, event data recorders, anti-lock brake systems, cruise
control, rain-sensing wipers, emission control, traction control, and
automatic parking. Further, manufacturers are using microcontrollers and
digital signal processors in vehicles, which can help in controlling
the pollution, thereby increasing the facility to provide system
monitoring features. Hence, there would be an increase in adoption of
embedded systems in the automotive industry.
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Research Methodology
The research methodology used to estimate and forecast the embedded
systems market begins with obtaining data through secondary research
such as journal, newsletters, and whitepapers of the leading players in
this market. The bottom-up procedure has been employed to arrive at the
overall size of the embedded systems market from the revenue of key
players. After arriving at the overall market size, the total market has
been split into several segments and subsegments, which has been
verified through primary research by conducting extensive interviews
with officials holding key positions in the industry such as CEOs, VPs,
directors, and executives. The market breakdown and data triangulation
procedures have been employed to complete the overall market engineering
process and arrive at the exact statistics for all segments and
subsegments.
The major factors driving the growth of this market include
increasing adoption of embedded systems in the automotive industry, use
of multicore processor technology in military applications, growing
market for wearable devices, increase in usage of embedded systems in
smart appliances of smart homes, and rising demand for embedded systems
in healthcare equipment. The Internet of Things (IoT) has already
revolutionized the consumer application industry. Large research and
development (R&D) investments, acquisitions, and funding in IoT
research projects are driving the growth of the IoT market. To cater to
future opportunities in the IoT ecosystem, microprocessor manufacturers
are acquiring companies working on IoT solutions. This factor would
further propel the growth of the embedded systems market during the
forecast period.
The application-specific integrated circuit (ASIC) accounted for the
largest share of the embedded systems market in 2016. This growth is
attributed to the increasing adoption of ASIC in various applications
such as consumer electronics, automotive, and telecommunications. The
embedded systems market for the field processing gate arrays (FPGA) is
expected to grow at the highest CAGR between 2017 and 2023.
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The key players in this market are Intel Corporation (US), Infineon
Technologies AG (Germany), Renesas Electronics Corporation (Japan),
Texas Instruments Incorporated (US), Microchip Technology Incorporated
(US), STMicroelectronics N.V. (Switzerland), Qualcomm Technologies
Incorporated (US), Cypress Semiconductor Corporation (US), Analog
Devices Inc. (US), Broadcom Limited (US), Fujitsu Limited (Japan), NXP
Semiconductors N.V. (Netherlands), and Toshiba Corporation (Japan).
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