Embedded System Market forecast to grow at 5.6% CAGR from 2016-2023

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Embedded System Market share to exceed USD 258
billion by 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Embedded System Market

• Embedded system market share to exceed USD 258.72
  billion by 2023, According to Global Market
  Insights, Inc. Driven by security concerns are
  likely to pose challenge to the demand growth
  over the forecast period. Internet of things,
  precisely the most buzzing topic worldwide, has
  shaken the entire global industry landscape.
• Embedded system market is one of the top
  industries witnessing a plethora of opportunities
  in the evolving connected and smart era.
  Digitization has embarked its strong presence
  across all the industries worldwide, which in
  turn has generated a wide set of opportunities
  for the embedded system industry players.
• With the rapid advancements in technology, the
  global demand for hi-tech equipment and devices
  has surged substantially, resulting in a huge
  adoption of embedded system across various
  industries such as Automotive, Consumer
  Electronics, Industrial, Healthcare,
  Telecommunication, and Military Aerospace.
  Among these, automotive industry dominated the
  application landscape, accounting for over 22 of
  the global share in 2014.

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Continued

• The growing trends in the automotive industry
  such as connected cars, electric and hybrid
  electric vehicles, smart vehicles, etc. will
  proliferate the embedded system industry share in
  the automotive industry. Embedded system market
  size in the automotive industry is likely to
  witness a CAGR of 5.5 over the period of
  2016-2023.
• Healthcare, is likely to be the second largest
  application area for the embedded system market.
  The growing population and increasing number of
  diseases have imposed a burden on the global
  healthcare expenditure. Healthcare sector, over
  the past few years, has witnessed rapid
  technology adoption. Embedded system industry
  share in the healthcare sector is projected to
  witness a CAGR of 6 over the period of
  2016-2023.
• North America is forecast to dominate the
  regional landscape, with revenue estimations of
  USD 84 billion by 2023. The growth can primarily
  be attributed to the growing trend of IOT across
  this region. US will be the major revenue pocket
  for the North America market, having had a 30
  regional share in 2015. Asia Pacific embedded
  system industry will also grow significantly over
  the coming timeframe, driven by the factors such
  as lower manufacturing costs, easy availability
  of software professionals, and huge presence of
  fabrication plants across this region. APAC
  embedded system market is likely to cross a
  revenue of USD 81 billion by 2023.

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Europe embedded system market size, by
application, 2012-2023 (USD Billion)

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Continued.

• On account of the product trends, embedded
  software market is forecast to grow substantially
  over the coming years, owing to the rising trend
  of wireless technology coupled with a huge demand
  from automotive and consumer electronics sector.
  Embedded software market is likely to surpass USD
  18 billion by 2023.
• Moreover, economic developments in emerging
  countries such as India, China, Russia, Taiwan,
  and Brazil will drive embedded hardware industry
  size, with CAGR estimations of 5.5 over the
  period of 2016-2023.
• Embedded system market is quite consolidated with
  the top four players sharing 45 of the overall
  business space. Key industry participants include
  Infineon Technologies, Samsung, Freescale
  Semiconductor, STMicroelectronics, Texas
  Instruments, Atmel Corporation, and Microchip.

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