Industry 4.0 and telecom to aid growth of global embedded system market

With automation at its core, Industry 4.0 is picking up major traction these days. The fourth industrial revolution is automating several business processes which is calling for various systems that work in the combination of analog and digital systems.

Moreover, there are various complex systems that work as a collectively to deliver a common goal, such system a.k.a. embedded systems are in high demand over the duration of time. Owing to these demands, the global embedded system market is projected to witness a substantial 6.4% CAGR during the tenure of 2019 to 2027, says a latest report by Transparency Market Research. As per the report the market is also expected to reach to the value of US$ 338.34 Bn by the end of 2027.

Automotive sector to witness highest growth

The automotive industry is projected to witness a substantial growth during the estimated time frame. The segment is expected to hold whopping 18.3% of overall share of the market by the end of 2021 and further growth is also expected.

Owing to this rate of growth, various players of global embedded system market are developing solutions that can easily fit into the ecosystem of the vehicle and/or organization. This as result is helping the system manufacturers to explore new opportunities and have a better future in the global embedded system market during the tenure of 2019 to 2027.

CE, aerospace, defense to capture significant share

The defense, consumer electronics, and aerospace industry thrive on the optimal functioning of the electronics, digital, and analog systems. It shall not be wrong to say that these industries are embodiment of the embedded systems.

Since, the application of communication devices that uses ICs and other integrated systems in these industries, the demand for embedded system solutions is expected to witness a major hike in coming years. Owing to this hike, the above mentioned industries are expected to collectively dominate the global embedded system market during the tenure of 2019 to 2027.

Growing penetration of IoT in business sector

With the advancement of technologies such as AI and IoT, Industry 4.0 is heavily impacting the business' operations. The technology is disrupting the brick and mortar trend of business and leveraging the benefits of automation such as better insights, optimization, and added value. The fourth industrial revolution is majorly driven by IoT and with conquest for optimized business processes, organizations are readily adopting it.

Since, for seamless functioning of the technology, the ICs must be optimally designed and developed, manufacturers are investing a major amount in research and development. As a result of this R&D, the manufacturers are able to develop new chips which is helping the global embedded system market to grow substantially in the coming years.

North America is projected to have the largest share in the global embedded system market. The growth of the region in the market is attributed to the growth in the number of manufacturers that are developing solutions for automotive, defense, telecom, and consumer electronics sector. The developed products by the manufacturers are resulting in personal growth of the business in the region which in turn is reflecting in the revenue generation quotient of the region for embedded system market.

Asia Pacific is referred as the fastest growing region in the global embedded system market. This pacing growth of the region is determined be the growth of various electronic and automotive manufacturers in countries like India, China, Japan, and South Korea.