Market Overview
As per Market Research Future (MRFR), the growth trajectory for the global embedded software market is on a rise, with the market increasing from the value of USD 10 Billion in the year 2016 to attaining the valuation of USD 19 Billion by 2022. Moreover, the market will be expanding at a healthy CAGR of 9% during the forecast period (2015-2022).
Growth Drivers and Key Challenges
The Embedded Software Market benefits largely by factors like the surging adoption of IoT-enabled devices which aid the enterprises in offering improved connectivity as well as technological solutions, in addition to handling large-scale data that are used in complex architectures like drones, aircraft, and autonomous cars.
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Key Players
The prominent players in the market of Embedded Software Market are – Enea Software AB ( Sweden), Green Hills Software (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation(U.S.), Advantech Industrial Computing India Pvt. Ltd (Taiwan), Emerson Network Power(U.S.), Microchip Technology Inc. (U.S.), Mitsubishi Electric Corporation(Japan) and STMicroelectronics(Switzerland) among others.
Market Segmentation
The market for embedded software is segmented on the basis of applications and programming languages.
Based on the types of programming languages, the global embedded software market is fragmented into C, C++, .Net, Java, Assembly Language, and others. Out of these, C is predicted to be the fastest growing segment on account of its short run-time along with direct access to application program interface.
The global embedded software market, application-wise, is considered for radio & satellite devices, consumer electronics, healthcare, and automotive. Here, the segment for consumer electronics is estimated to be the fastest growing, as a result of the rapidly adoption of electronic devices like tablets and smartphones.
Regional Analysis
The geographical distribution of the global embedded software market is considered for Asia Pacific, Europe, North America, and the Rest-of-the-World (RoW).
Revenue-wise, North America wins the race, securing the top position as the demand for IoT grows in the countries like Canada and the United States (US). Moreover, the expansion of the manufacturing industry within the region will further the market position, as the increasing demand for IoT-enabled OS lets the manufacturers remotely monitor the statistics of the product, in addition to automating the device-to-analytics data flow.
Whereas, the countries in the region of Europe like Italy, France, and Germany have a high consumption rate for embedded software in consumer electronics, fostering the market growth to a large extent. Also, the growth of the information and communication technology will further the market growth in the region as well.
In the region of Asia Pacific, nations such as India and China are under the developing stage, however the demand for electronic products seems to be increasing rapidly, leading to the positive outlook of the regional market in the near future. moreover, continuous product launches and such marketing strategies adopted by numerous local manufacturers will bode well with the market growth. for instance, in 2018, Chinese chip manufacturer called Chengdu Haiguang IC Design Co. began the development of the x86 processors referred to as “Dhyana” with their operating system added in it. This move helped the manufacturers in decreasing their dependence on the operating systems belonging to the United States (U.S).
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Intended Audience
- Software providers
- System integrators
- IT service providers
- Automobile manufacturers
- Third party suppliers
- Hardware manufacturer
- End users
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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