The global embedded system market
is expected to witness a robust growth due to increase in demand for
devices with embedded systems. These devices are contributing to growth
in a wide range of sectors including defense, consumer, industrial,
automotive, medical, and commercial. Embedded systems often undergo
major changes which improve the use in end-use applications with
increased sophistication and advancements in hardware. Key companies in
the global embedded system market are expected to pour in large
investments in research and development (R&D).
Hence, the global
embedded systems market is expected to register a 6.4% CAGR rise during
2015 to 2021. The market is expected to reach US$233.19 bn by 2021 end.
Apart from the drivers mentioned above, here are some more important
points about the embedded systems market:
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The growing demand for embedded systems in the automotive industry is also expected to fuel the growth of the market. Various small-sized electronic and electrical components make up vehicle body framework.
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The demand from the automotive industry is expected to grow further as smart sensors, infotainment systems, and AI systems are increasingly integrated in vehicles.
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The growing demand from telecommunications, defense, healthcare, consumer electronics, and aerospace is expected to boost the embedded systems market during the forecast period. Increasing interest among consumers for smart-gadgets, laptops, and tablets is expected to drive the consumer electronics segment. Each of these sectors is focused on bringing new development with the demand for more complex functions and higher accuracy.
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New horizons such as automated smart home setups and AI-driven automobiles are also expected to emerge as a leading application segment.
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Region wise, the North America embedded systems market is expected to make significant gains due to presence of large established players in the region. Growing automation in manufacturing as well as healthcare can also boost market growth between 2015 and 2021.
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