July 22 2020
Market Research Future published a research report on “Embedded Software Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
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.
Moreover, an augmented demand for smart and connected devices within the automotive & healthcare industry is poised to shape the market positively. On that note, the healthcare industry is one of the major industries that is quickly adopting IoT-enabled embedded OS into the medical devices, which helps the medical professionals when it comes to improving the quality as well as the effectiveness of services provided to their patients.
The increasing market penetration of electric vehicles will bring further good news for the embedded software market in the near future. This is possible since the deployment of embedded OS increases the driving comfort of the passengers as they offer driving assistance function like adaptive cruise control and parking assistance. The striking rise in the demand for standardized software, like automotive open system architecture (AUTOSAR) for electric vehicles, will also work in favor of the embedded software market.
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The prominent players in the Embedded 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.
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.
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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TABLE OF CONENTS
LIST OF TABLES
Table 1 Global Embedded Software Market, By Programming Language
Table 2 Global Embedded Software Market, By Applications
Table 3 Global Embedded Software Market, By Regions
Table 4 North America Embedded Software Market, By Programming Language
Table 5 North America Embedded Software Market, By Applications
Table 6 U.S. Embedded Software Market, By Programming Language
Table 7 U.S. Embedded Software Market, By Applications
Table 8 Canada Embedded Software Market, By Programming Language
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