The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• 2023 Market Size: $101.44 billion
• 2024 Market Size: $110.89 billion
• CAGR: 9.3%
• 2028 Market Size: $159.1 billion
• Future CAGR: 9.4%

Historical Growth Drivers

• Standards and Certifications: Ensured reliability and safety.
• Cybersecurity Focus: Development of secure embedded systems.
• Global Manufacturing Expansion: Cost-effective production.
• Consumer Demand and Energy Efficiency: Growing demand for efficient and reliable systems.

Forecast Growth Drivers

• Real-Time Data Processing: Increased demand for real-time capabilities.
• Decreasing Component Costs: More affordable embedded systems.
• Tailored Solutions: Growing need for customized systems.
• Expansion in Developing Countries: Wider implementation of embedded systems.
• Renewable Energy Implementation: Use in solar, wind, and other green solutions.

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Major Trends

• Military Applications: Advanced systems for defense.
• Cloud Integration: Increasing use of cloud platforms.
• Industry 4.0: Growth in industrial automation.
• Telematics Services: Expansion in automotive and other sectors.
• Blockchain Technology: Enhanced security and data integrity.

Energy Efficiency and Sustainability

• Driving Growth: Focus on reducing energy waste and adopting sustainable practices.
• Embedded Systems’ Role: Optimizing energy usage, integrating renewables, enabling smart grids.
• Investment Trends: $1.7 trillion allocated to clean energy in 2023.

Key Companies

• Major Players: Samsung Electronics, Sony Semiconductor Solutions, Siemens AG, Intel Corporation, Qualcomm Technologies Inc., Honeywell International Inc., Broadcom Inc., Nvidia Corporation, Advanced Micro Devices Inc., Texas Instruments, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Marvell, Vishay Intertechnology Inc., Arm Limited, Silicon Labs, Nordic Semiconductor, Lattice Semiconductor, Raspberry Pi Foundation, Arduino.

Strengthening Security Innovations

• Cybersecurity: Developing solutions to protect against cyber threats.
• Kaspersky Example: Kaspersky Embedded Systems Security for Linux-based devices, featuring multi-layered defenses and integrity monitoring.

Strategic Acquisitions

• AMETEK Inc. and Abaco Systems Inc.:
  • Acquisition Date: April 2021
  • Acquisition Value: $1.35 billion
  • Strategic Fit: Expanding presence in aerospace and defense with Abaco’s embedded computing systems.

Market Segmentation

1. By Component:
   • Hardware
   • Software
   • Services
2. By Function:
   • Real-Time
   • Standalone
   • Mobile
   • Networked
3. By System Size:
   • Small Size
   • Medium Size
   • Large Size
4. By End-Use Industry:
   • Automotive
   • Consumer Electronics
   • Aerospace and Defense
   • Healthcare
   • Telecommunication
   • Industrial
   • Other End-Use Industries

Regional Insights

• Largest Region (2023): North America
• Fastest-Growing Region (Forecast): Asia-Pacific

Conclusion

The embedded systems market is poised for significant growth, driven by advancements in technology, increasing demand for efficient and secure systems, and expanding applications across various industries. With a strong focus on energy efficiency and sustainability, and significant investments in clean energy, the future of embedded systems looks promising.

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The Embedded Systems Global Market Report 2024  provides an overview of the embedded systems market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The embedded systems market forecast analyzes embedded systems market size, embedded systems market share, leading competitor and their market positions.

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