According to the report published by Allied Market Research, the global embedded computing market generated $36.74 billion in 2020, and is estimated to reach $85.68 billion by 2030, witnessing a CAGR of 9.1% from 2021 to 2030.
Technological advancements, reduction in prices of consumer electronics devices, and demand for innovative and high-quality embedded systems drive the growth of the global embedded computing market.
However, fierce competition among regional market players and complex hardware configurations restrain the market growth. On the other hand, the adoption of innovative technologies and the rise in standards of living in emerging countries create new opportunities in the coming years.
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Leading players of the global embedded computing market analyzed in the research include Arm Holdings Plc., Intel Corporation, Fujitsu Limited, Microchip Technology, Inc., IBM Corporation, Qualcomm Incorporated, Microsoft Corporation, STMicroelectronics, Renesas Electronics Corporation, and Texas Instruments Incorporated.
The report offers detailed segmentation of the global embedded computing market based on type, end-users, and region.
Based on type, the hardware segment contributed to the highest market share in 2020, accounting for more than three-fourths of the total share, and is estimated to continue its lead position during the forecast period. However, the software segment is expected to manifest the largest CAGR of 12.5% from 2021 to 2030.
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Based on end users, the communications segment accounted for the highest share in 2020, contributing to more than one-fourth of the total share of the global embedded computing industry, and is estimated to continue its leadership status during the forecast period. However, the automotive segment is projected to witness the largest CAGR of 12.9% from 2021 to 2030.
Based on region, Asia-Pacific, followed by North America, held the largest share in 2020, accounting for around one-third of the total market share, and is estimated to continue its dominance in terms of revenue by 2030. Moreover, this region is expected to portray the largest CAGR of 11.7% during the forecast period. The report also analyzes the regions including Europe and LAMEA.
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Covid-19 Scenario:
- There has been a rapid surge in the demand for cloud-based embedded computing solutions to support business processes during the Covid-19 pandemic. In addition, the pandemic led businesses around the globe to adopt the remote working culture, which in turn, surged the demand for embedded computing solutions.
- The embedded computing solution plays a crucial role in maintaining the business processes efficiently and keeping excellent connectivity between the connected devices. This was achieved through various features of embedded computing solutions including digital data exchange, remote access, and real-time data analytics.
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