Embedded Computing Market Grows at 8.7% Machine-led CAGR
Embedded computing finds its applications in large and small industries. Smart industrial components such as thermostats, meters, door locks, temperature sensors and humidity sensors collect data and transmit it wirelessly to the on-board computer to initiate a service call. An embedded computer system is used for complex industrial operations such as energy utilization with smart motors, fluid level measurement with smart sensors, robotic assembly line optimization, and much more . Industrial automation (AI) is a privileged territory of embedded computing applications dominated by programmable logic controllers (PLC).
According to research by The Insight Partners, the global embedded computing market was valued at US$32,090.1 million in 2018 and is projected to reach US$67,285.1 million by 2027 to grow at a rate of annual growth of 8.7% from 2019 to 2027. The market expansion is driven by growth in the automotive, industrial and telecommunications sectors.
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The telecommunications sector has innumerable functional applications to embedded computing. The latest technological advancement is the adoption of the 5G network. Mobile operators are heavily marketing 5G technology by touting download speeds and data prices. The expansion of 5G networks around the world requires the integration of on-board computers into operations. The field of telecommunications integrates various embedded systems such as routers, modems, network switches, network bridges, and mobile phones, among others. Thus, the exponentially growing automotive, industrial and telecommunications sectors are driving the global embedded computing market.
The major players dominating the global embedded computing market are Advantech Co., Ltd; Arm Holdings Plc; Fujitsu Limited; International Company of Commercial Machinery; intel company; Microchip Technology Incorporated; Qualcomm Incorporated; Renesas Electronics Corporation; ST Microelectronics SA; and Texas Instruments Incorporated, among others.
• In July 2019, Advantech introduced a palm-sized embedded system, EPC-U2117, which improves CPU and graphics performance by 30% and 45%, respectively. The system finds its application in passenger information systems, digital signage, outdoor vending machines, smart kiosks, etc.
• In June 2017, Intel Corporation released the first commercially available 64-layer 3D TLC NAND SSD for client computing. It is a reliable, high-quality player for the consumer market that offers the best performance for old and new computers.
• In November 2017, Microchip Technology released a single-wire serial EEPROM, AT21CS11, a memory device to respond to extended voltage to suit lithium-ion battery applications.
• In September 2016, Qualcomm launched two processors – Snapdragon 600E and 410E – as part of its embedded computing offerings through its distributors worldwide.
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However, the associated security issues are hampering the growth of the global embedded computing market.
A modern vehicle usually consists of 25 to 100 electronic control units (ECU). These systems are categorized into real-time body controls and infotainment controls. Embedded computing in modern vehicles is segmented into different areas based on the function to be performed. Each ECU includes processing elements, memory subsystems, power elements, sensors, actuators, etc. which are incorporated in specific combinations depending on the applications. The Advanced Driver Assistance System (ADAS) – which includes lane departure warning, emergency braking and blind spot detection – is based on in-vehicle computing.
Based on components, the market is segmented into microprocessor, microcontroller, ASIC, digital signal processor, FPGA, memory, hardware, and software. The microcontroller segment led the market in 2018 with 42.7% market share. It raised US$13,700.1 million in 2018 and is expected to generate US$28,368.4 million by 2027 to grow at a CAGR of 8.5% during the period 2019-2027.
According to the industry vertical, the global embedded computing market is categorized into automotive, industrial, consumer electronics, transportation, government & enterprise, communication, and others. The industrial segment occupied 33.2% market share in 2018. It aggregated US$10,664.3 million in 2018 and is expected to amass US$22,320.1 million by 2027 to grow at a CAGR of 8 .6% over the forecast period.
Our regional analysis indicates that the Asia-Pacific market captured 51.8% domain share in 2018, amassing US$16,629.1 million. It is expected to reach US$38,794.8 million by 2027 to reach a CAGR of 10.0%, the highest during the forecast period.
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The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
This press release was published on openPR.