Embedded computing includes devices that are integrated with processors or controllers within larger systems, machines and devices to perform dedicated functions with high reliability. Embedded computing functions primarily as building blocks within a larger system, performing specific tasks as per programming requirements. They are increasingly deployed across industries such as automotive, healthcare, industrial automation, aerospace & defense, consumer electronics and telecommunications due to advantages such as low power consumption, compact form factors, real-time processing capabilities and high reliability even in harsh environments. Growing popularity of Internet of Things (IoT) along with increasing need for miniaturization of electronic devices has further propelled the demand for embedded computing solutions.
The Global Embedded Computing Market is estimated to be valued at US$ 112.45 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Embedded Computing are Advanced Micro Devices (AMD), NVIDIA Corporation, Intel Corporation, NXP Semiconductors N.V. and Texas Instruments. These players are focusing on new product launches and mergers & acquisitions to expand their market share.
Embedded Computing Market Growth include increasing popularity of IoT, adoption of AI and machine learning capabilities, growing demand for connected cars and advancement in industrial automation.
On the global front, companies are expanding their presence across major markets such as North America, Europe, Asia Pacific and Latin America. For instance, NVIDIA Corporation acquired Arm Holdings for $40 billion to expand footprint in embedded computing domain. Companies are also focusing on emerging economies in Asia Pacific and Middle East & Africa owing to rapid industrialization.
Market Drivers
- Widespread digitalization and proliferation of IoT devices across industries has accelerated the demand for embedded computing modules to handle various functions in automated systems. This acts as a key market driver.
Market Restrains
- Concerns around data security and privacy issues posed by embedded devices limit the scope of certain computing applications. This acts as a major market restraint.
Segment Analysis
The embedded computing market is segmented into hardware and software. The hardware segment dominated the market in 2020 and accounted for over 60% share. This is because embedded systems require dedicated hardware components like microprocessors, microcontrollers, gateways, and sensors to function. Within the hardware segment, microprocessors sub-segment held the largest share as these are used across various embedded devices for controlling and processing.
Global Analysis
The Asia Pacific region is the fastest growing as well as the dominating region in the embedded computing market. This is due to widespread adoption of embedded systems in automotive, industrial, medical and other sectors across China, Japan, South Korea and other developing Asian countries. Asia Pacific alone accounted for over 40% share of the global market in 2020. North America is another major region owing to extensive use of embedded systems in defence, healthcare and aerospace industries in United States and Canada. Key players like Advanced Micro Devices (AMD), NXP Semiconductors, and Intel Corporation are expanding their presence across Asia Pacific to tap the growth potential in this region.
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