The Embedded Computing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Embedded Computing Global Market Report 2024, The embedded computing market size has grown strongly in recent years. It will grow from $39.74 billion in 2023 to $43.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to evolution of microprocessor technology, growth in consumer electronics, rise of the internet of things (iot), expansion of automotive electronics, increased demand for portable devices.
The embedded computing market size is expected to see strong growth in the next few years. It will grow to $59.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to expansion of edge computing applications, increasing adoption of embedded systems in medical devices, rise in cybersecurity concerns driving embedded security solutions, growth in the autonomous vehicles market. Major trends in the forecast period include proliferation of edge computing, development of energy-efficient embedded devices, growth of embedded vision systems, increased focus on open-source embedded software, adoption of ruggedized embedded solutions in harsh environments..
The increasing adoption of consumer electronics is expected to propel the growth of the embedded computing market going forward. Consumer electronics (CE) refers to any electronic device designed to be purchased and used by end users or consumers for non-commercial/professional purposes daily. Embedded system integration enables electronics products to deliver innovative capabilities, frictionless communication, excellent performance, and increased efficiency, contributing to the constantly changing consumer electronics scene. For instance, in 2022, according to Deloitte, a UK based professional services network, Growth rates for units of consumer electronics categories, computers (+34%) and TV sets (+12%) have grown much faster than smartphones (+1%) in the past three year. Therefore, the increasing adoption of smartphones is driving the growth of the embedded computing market.
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The embedded computing market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Function: Real-Time, Standalone, Mobile, Networked
3) By End User: Automotive, Industrial, Healthcare, Retail, Consumer And Smart Home, Other End Users
Product innovations are a key trend gaining popularity in the embedded computing market. Major companies operating in the embedded computing market are developing innovative products to sustain their position in the market. For instance, in January 2022, Neousys Technology, a Taiwan-based manufacturer of rugged embedded systems and industrial equipment, launched the Nuvo-9000 series and Nuvo-9531 series, fanless embedded computers. These embedded solutions are intended for industrial edge computing, vision inspection, and automation systems. Nuvo-9000 and Nuvo-9531 series processors benefit from the 16-core/24-thread configuration of Intel’s 12th generation Core I processor, which improves performance over the platform from the prior generation.
The embedded computing market report table of contents includes:
1. Executive Summary
2. Embedded Computing Market Characteristics
3. Embedded Computing Market Trends And Strategies
4. Embedded Computing Market – Macro Economic Scenario
…
32. Global Embedded Computing Market Competitive Benchmarking
33. Global Embedded Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Embedded Computing Market
35. Embedded Computing Market Future Outlook and Potential Analysis
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