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. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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 configuration restrain the market growth. On the other hand, adoption of innovative technologies and rise in standards of living in emerging countries create new opportunities in the coming years.
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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.
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.
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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.
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.
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Key Findings of the Study –
- Depending on product type, the hardware segment dominated the embedded computing market in 2020. However, the software segment is expected to exhibit significant growth during the forecast period.
- By end user, the communication sector segment accounted for the highest revenue of market in 2020. However, the automotive sector segment is expected to witness the highest growth rate during the forecast period.
- Region wise, the embedded computing market was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.
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