Analysts know that smart devices are currently one of the more sought-after electronic devices in the world today, in all industrial and commercial aspects. More and more people are seeing the advantage of using mobile devices that can perform special tasks that would otherwise require stationary computers.
The recent rate of development of electronics and embedded systems has been particularly strong, creating significant scope of use and functionality of smart devices and connected electronics. The modern embedded systems are used to create and maintain communication between these devices and thus create the smart network that industries are looking for to improve operational efficiency.
According to a new publication by Transparency Market Research, the competitive rivalry in the global market for embedded systems is expected to remain intense over the coming years, owing to the large shares held by a small number of key players. The overall proportion of regional players is extremely small due to the massive amounts of capital required to remain abreast in this fast-paced market.
Most embedded systems manufacturers are directly catering to consumer electronics and are therefore solely reliant on this industry’s demand for their profits and production rates. Making their products smaller, cheaper, faster, and more reliant are the basic principles that all key players abide by, therefore keeping the rate of technological development as high as possible.
The global market for embedded systems is expected to progress at a CAGR of 6.4% within a forecast period from 2015 to 2021. By the end of 2021, this market’s revenue is expected to reach $233.19 billion.
Not to be outdone, the automotive industry has consistently provided the top demand for embedded systems over the recent past and analysts believe that the industry will retain its leadership in demand and revenue generation for embedded systems till 2021. By the end of 2021, the revenue for embedded systems from the automotive industry is expected to reach $42.64 billion, owing to a wide range of applications in modern cars and internal systems.
The demand for consumer electronics is similarly high and is expected to keep increasing over the next few years, owing to a booming consumer electronics industry.
Embedded systems are highly reliant on stable hardware, a fact shown by the dominance of embedded hardware against software. By the end of 2021, the revenue generated by embedded systems hardware is expected to reach $182.14 billion.
The leaders in the global embedded microcontroller systems market in 2014 were Renesas, Freescale, and Samsung. The three held a collective share of 54.8% of the market value in 2014. As for embedded microprocessor systems, Intel, Qualcomm, Samsung, and AMD had collectively held a share 92% in terms of value in 2014.
Pragati Pathrotkar in the digital marketing division of TMR.