The global embedded software market, which reached nearly US$12 billion in 2020, is set to experience significant progress in the coming years. This notable growth is driven by the unprecedented expansion of the consumer electronics and telecommunications industries, highlighting the increasing importance of embedded software solutions in our rapidly evolving world.
Soaring Adoption of Embedded Software Systems Warrants Embedded Software Market Growth
Embedded software solutions have become indispensable in the modern technological landscape. These advanced micro-systems operate independently, running comprehensive software programs. They are specifically designed to connect with microchips and are essential for non-PC applications. Embedded software plays a crucial role in controlling limited functions within devices, considering their processing and memory constraints. With the growing need for embedded software solutions in the contemporary world, the global embedded software market is expected to thrive at an impressive pace.
Embedded software is particularly vital for operating electronic devices that are not conventional computers, distinguishing it from operating systems and firmware. Applications of embedded software extend to a wide range of devices, including automobiles, biomedical equipment, televisions, industrial robots, telecommunications, banking software development, and various digital processes. As the demand for embedded software solutions continues to rise, the markets growth prospects are exceptionally promising.
Rampant Expansion of Consumer Electronics Industry Uplifts Embedded Software Market
Consumer electronics have become inseparable from embedded computing systems, powering devices such as mobile phones, laptops, personal computers, and gaming consoles. The proliferation of embedded computing within consumer electronics is driven by factors like increased technological awareness, reduced device costs, and improved standards of living among end-users. Furthermore, embedded systems have gained significance with the expansion of the Internet of Things (IoT). Smartphones, heart rate monitors, and smart home appliances are now interconnected, allowing for tracking, monitoring, control, and adaptation. This trend is expected to positively impact sales of embedded computing systems, thus benefiting the embedded software market.
Consumer electronics products rely heavily on microprocessors. For instance, smartphones now feature low-power ARM Cortex M4 and ARM Cortex M7 cores, offering high processing performance with minimal power consumption. The rapid growth of smartphone connections, accounting for 60% of all mobile device connections in 2018 and projected to reach 80% by 2025, underscores the importance of embedded computing systems. Additionally, the burgeoning IoT market, with 10 billion IoT connections in 2019 and continued growth expected through 2025, further fuels the demand for embedded computing systems.
Thriving Telecommunication Boom to Drive Growth for Embedded Software Market
Embedded software takes the lead in the telecommunication segment, particularly in base station equipment like servers, routers, modems, and communication modules. These embedded software systems efficiently manage and control base station operations, a crucial component of telecommunications infrastructure. The deployment of new 5G base stations across Asia Pacific nations, including China, South Korea, and Japan, has significantly contributed to the growth of the embedded software market. China alone had installed over 819,000 new 5G base stations by Q1 2021, reflecting the rapid expansion of 5G technology. Embedded software plays a pivotal role in creating telematics products and in-car entertainment systems, offering a wide range of functionality, from communication and navigation to safety and security features. The increasing complexity of connected embedded systems drives the need for simplified cloud connectivity tools for embedded systems, further bolstering the market.
North America’s Embedded Software Market Flourishes on the Back of Augmenting Investments in Healthcare Sector
North America is poised to capture a substantial share of the embedded software market, driven by early technology adoption and the presence of leading vendors. The region is experiencing growing demand for embedded computer systems, particularly in applications like robotics and IoT. Initiatives like the sensor open systems architecture (SOSA) by the US Department of Defense (DoD) further promote affordable, powerful, and upgradable embedded computing systems, strengthening the markets position.
Significant investments in the healthcare sector within North America, including the adoption of advanced computers in operating rooms, diagnostic workstations, and nursing stations, contribute to the markets growth. The development of the Industrial Internet of Things (IIoT) and industrial automation systems also fuels demand for embedded software solutions. Moreover, increased investments in defense by the US federal government, such as the allocation of US$7.5 billion for combat aerial vehicle surveillance systems, create additional opportunities for market expansion.
Embedded Software: The Brain of Modern Electronic Systems
Embedded computing systems serve as the central intelligence in modern vehicles, with even standard models incorporating 30 to 35 microcontrollers, while luxury cars feature up to 75. These embedded systems enable critical functionalities such as airbags, navigation, adaptive cruise control, and rain-sensing capabilities. In the healthcare sector, embedded computing devices play a crucial role in systems for PET scanning, CT scanning, MRI, electronic stethoscopes, vital sign monitoring, glucose meters, pacemakers, and biomedical sensors. The increasing integration of embedded systems in various applications underscores their significance as a driving factor for the embedded software market.
Global Embedded Software Market: Competitive Landscape
The global embedded software market features prominent players such as IBM, National Instruments, VIA Technologies, Inc., HCL Technologies, and Microsoft Corporation. Notable collaborations, like the partnership between IBM and MIT to advance artificial intelligence, continue to drive innovation within the industry. Such collaborations aim to enhance computing capacity, facilitate code integration with commercial cloud service providers, and ultimately advance the capabilities of embedded software systems.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/embedded-software-market
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