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The market share growth by the consumer electronics segment will be significant during the forecast period. Embedded system manufacturers, such as AMD, Intel, NVIDIA, NXP Semiconductors, and others, are coming up with highly-capable embedded boards, such as COM and SBCs. These integrated solutions help gaming equipment manufacturers to achieve faster time-to-market. Gaming equipment manufacturers are niche customers for embedded product manufacturers because gaming OEMs have specific product requirements for gaming platforms. For instance, congatec GmbH is a COM provider for gaming OEMs in Australia.
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The consumer electronics segment was valued at USD 77.20 billion in 2018. They are used in gaming applications, such as video slot machines and other electronic games found in gaming arcades and casinos. Most of the embedded boards used in the gaming sector are based on Intel Core processors and AMD processors. The gaming sector uses encryption and decryption techniques to ensure safeguards against hackers. This, in turn, will compel embedded board companies to provide affordable hardware modules, which are required to provide a level of security using proprietary solutions. Such factors will increase the market growth during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the major factors driving the market growth are the increased need for faster time-to-market, reduced manufacturing costs, and efficient management of complex control systems. The increase in the penetration of tablets and netbooks in the industrial sector also adds momentum to the growth of the market in this region. The US is the key leading country in North America for the market because it is the world leader in research, product innovation, design, and manufacture of electronic consumer goods, as well as in branding and marketing. They are adopted in electronic devices that are used in cars, telephones, modems, home appliances, toys, security systems, pacemakers, set-top boxes, and digital watches. According to the US Bureau of Labor Statistics data, the US consumer goods market was the largest in the world, including electronic consumer goods. Such factors are expected to fuel the demand in the region during the forecast period.
The demand for smart appliances is the key factor driving the global market growth. With improved technology, electronic systems are also being upgraded. Smart appliances and other electronic systems, especially in-house security infrastructure such as automated door locks, are designed to communicate and interact with users via the Internet. Almost all modern electronic systems require ICs with embedded software to control the hardware functions. Some examples of smart home applications are Google Home, Amazon Echo, and Apple Home Kit.
However, the smart grid is another technology where integrated circuits (ICs) are used. It uses automation to integrate the actions of the user and deliver sustainable and secure electricity in the most efficient way by connecting to the electric infrastructure of the user. It also helps reduce electricity wastage. Primarily, the smart grid uses information and communications technology. The potential of this segment to drive growth in the adoption in the forecast period is huge since ICs play a crucial role in smart grid and security solutions. Hence, such factors are driving the market during the forecast period.
The rise in the development of 5G-based embedded devices is the primary trend in the global market growth. During the forecasted years, the market for embedded goods is anticipated to benefit from the development of 5G technology. The 5G industry is anticipated to contribute USD 2.2 trillion to the world economy by 2034, or 5.3% of the growth in the gross domestic product (GDP), according to the Global System for Mobile Communications (GSMA). As a result, during the forecast period, embedded product output will be considerably improved.
Due to the incorporation of 5G into their architecture, embedded goods used in smart video surveillance systems of automobiles deliver quick response times. Furthermore, because 5G technology supports quick picture processing, it will aid in overcoming the difficulties associated with industrial automation and smart farming. Therefore, embedded products supporting 5G infrastructure are expected to fuel the growth of the embedded product market during the forecast period.
High energy consumption of compact embedded products is a major challenge to the global market growth. The compactness of embedded system that incorporates various functionalities in them can lead to complexity in their design architectures. This, in turn, leads to an increase in the consumption of energy. High energy consumption can often compromise the overall lifecycle.
Further, the energy consumption is susceptible to the temperature of embedded products and increases with the rise in the temperature of the device. This negatively affects the overall performance of the embedded products. Hence, the high energy consumption of compact embedded products is expected to act as a major challenge to the growth of the embedded product market during the forecast period.
The report includes the adoption lifecycle of the embedded systems market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the embedded systems market.
AMETEK Inc. - The company offers embedded product solutions such as ground vehicle applications, aerospace applications, naval applications, and embedded rugged systems.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market showcases a diverse array of solutions tailored for various industries, from the automotive and aerospace & defense sectors to the healthcare industry. Key components such as microprocessors, microcontrollers, and Application-Specific Integrated Circuits (ASICs) drive innovation in IoT (Internet of Things) applications (IoT applications), wireless communication, and electronic surveillance. Advanced technologies like Graphics Processing Units (GPUs) and Field-Programmable Gate Arrays (FPGAs) find application in phased array radar and 6G communications systems. With a focus on real-time embedded systems and network embedded systems, the market caters to evolving needs in urbanization and cloud connectivity. As demand surges for Electric vehicles and medical equipment and the Aerospace and defense industry, embedded products play a pivotal role in enabling electromobility solutions and healthcare advancements. Embracing 5G based embedded devices and SOSA (Sensor Open Systems Architecture), the market propels industries toward a connected and technologically advanced future.
In today's fast-paced technological landscape, the market stands at the forefront of innovation, driven by a plethora of cutting-edge components and applications. From the ubiquitous microprocessor to specialized Digital Signal Processors (DSPs), these technologies power diverse sectors such as automotive electronics, healthcare, and aerospace & defense. Essential storage solutions like read-only memory and flash memory ensure seamless operation in various portable devices and vehicle electronic systems. As industries embrace the Internet of Things (IoT), there is a surge in demand for wireless embedded software solutions, Bluetooth connectivity, and cloud connectivity tools. These advancements enable critical systems like Advanced Driver-Assistance Systems (ADAS) and military applications to operate efficiently, shaping the future of the automotive industry, telecommunications, and the broader technological landscape. Additionally, the rise of gaming equipment leverages these technologies to deliver immersive and high-performance experiences, further fueling market growth and innovation.
Market Scope |
|
Report Coverage |
Details |
Page number |
188 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.79% |
Market growth 2024-2028 |
USD 99.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advantech Co. Ltd., AMETEK Inc., ARBOR Technology Corp., ASUSTeK Computer Inc., Axiomtek Co. Ltd., congatec GmbH, Curtiss Wright Corp, Digi International Inc., EUROTECH Spa, Fujitsu Ltd., Intel Corp., Kontron AG, NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., Radisys Corp., SMART Global Holdings Inc., Super Micro Computer Inc., TechNexion Ltd., Texas Instruments Inc., and Toradex AG |
Market dynamics |
Parent market analysis, Market forecasting , market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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