Embedded Systems Market To Record Impressive Growth, Revenue To Surge To US$114 Billion By 2024 – ZMR Blog
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Embedded Systems Market To Record Impressive Growth, Revenue To Surge To US$114 Billion By 2024

With the presence of a large pool of participants, the global embedded systems market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Toshiba Corporation, NXP Semiconductors N.V., Fujitsu Limited, Broadcom Limited, Analog Devices Inc., Cypress Semiconductor Corporation, Qualcomm Technologies Incorporated, STMicroelectronics N.V., Microchip Technology Incorporated, and Texas Instruments Incorporated are some of the key vendors of embedded systems across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the embedded systems market study.

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Citing an instance, in October 2018, Azul Systems, a leader in Java runtime services, declared that V2COM – a leading provider of smart systems and IoT services – will build new Java based products through use of Zulu embedded systems of Azul next year.

Global Embedded Systems Market

As estimated in this report, the global embedded systems market stood at US$ 86 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this market is expected to reach US$114 billion by the end of the forecast period. The main types available in this embedded systems market are hardware and software. Among them, the demand for hardware is relatively higher and the trend is anticipated to remain so over the next few years, notes the embedded systems market research report.

Escalating Product Penetration Across Myriad Sectors To Impel Market Size

“Massive application of the systems in automobile, telecommunications, satellites, digital consumer electronics, smart cards, and missiles is anticipated to drive the growth of embedded systems market over the years ahead,” says the author of this embedded systems market study. Apart from this, massive replacement of traditional TV sets with modern ones is expected to boost embedded systems market revenue in the upcoming years. In addition, humungous demand for smart and power-efficient electronic equipment is projected to be the major growth drivers for embedded systems market in the years to come.

Rising security concerns pertaining to the use of these systems in myriad sectors, however, may hinder embedded systems market demand. Nevertheless, rising penetration of robotics are projected to open new growth avenues for embedded systems market in the years ahead, thereby normalizing the impact of hindrances on the market, reports the study.

Humungous Demand For High Quality Products To Aid Regional Dominance

Regionally, North America has been leading the worldwide embedded systems market and is anticipated to continue on the dominant position in the years to come, states the embedded systems market study. High demand for superior quality embedded software is the key factor behind the dominance of the North America embedded systems market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional embedded systems market.

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