Market Size of Embedded Computing Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Embedded Computing Systems Market Analysis
The embedded computing systems market is expected to register a CAGR of 6.6% during the forecast period (2021 - 2026). With the rise of IoT, advanced technologies for embedded security are likely to emerge as a crucial generator for identifying devices in an IoT network, and as microcontroller security solutions that isolate security operations from generic operations.
- Embedded industrial systems connected to the internet and cloud in a traditional development cycle takes weeks or months to deploy. Thus, cloud connectivity tools for embedded systems are essential tools to simplify the process of connecting embedded systems with cloud-based services by reducing the underlying hardware complexities.
- Moreover, reduced energy consumption, visualizations tool with real-time data, and deep learning applications are key future trends for embedded computing systems. For instance, in October 2018, GE unveiled its latest product innovations to release two new control solutions. Built on the capabilities of Industrial Internet Control System (IICS), Intelligent Platforms PAC Systems RX3i CPL410 (the first-ever outcome that will optimize open controller) and Equipment Insight 2018 (remote monitoring as a service platform) both designed to harness the combined power of edge controls and analytics to deliver actionable intelligence across the industrial ecosystem.
- Furthermore, an embedded computing system is the heart of any vehicle's electronic system due to its versatility and flexibility. In the current market scenario, a vehicle containing around 30-35 microcontrollers and luxury vehicles contains 70-75 microcontrollers. These include embedded airbag systems, embedded navigation systems, adaptive cruise control, embedded rain sensing systems, etc.
- Embedded computing systems play a vital role in many applications in the healthcare industry. They are used for monitoring vital signs, for amplifying sounds in electronic stethoscopes, and in nearly every kind of imaging system, including PET scans, CT scans, and MRIs. Glucose monitors, pacemakers, CPAP machines, and a variety of biomedical sensors rely on embedded systems.
- With the outbreak of COVID-19, the Embedded Computing Systems market has been thoroughly affected by the current developments due to the significant disruption in the global supply chain, which trickles down the embedded computing industry, thus resulting in slower growth of the market.
