Embedded System Market to observe growth at a CAGR of 6.8% in the next five years
Albany, New York (PRWEB) July 12, 2014 -- Embedded System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, the report by Transparency Market Research gives valuable insights about the global embedded system market and provides a deep analysis of the factors that could lead further growth and losses in the industry along with a forecast of the future of this market.
According to the report the global embedded system market, which was worth nearly USD 121 billion in 2011, is expected to grow significantly during the forecast period of the report, i.e., between 2012 and 2018. Growing at an expected CAGR of 6.8% during this period, this market could amass a market value of USD 194.27 billion by 2018
Earlier, the use of embedded systems was limited to business critical and particularly large systems such as telephone switches, rocket and satellite control, air traffic controlling and energy production control, etc. But with the tremendous growth witnessed by this industry in the past decade, the use of embedded systems has also grown in almost every fast growing sector of the current time. Today, embedded systems are quite easily found in products from industries such as mobile communication, electronic payment systems, aeronautics, automobiles and railways.
According to the report, the global embedded system market possesses huge growth opportunities owing to factors such as the rising demand for smart electronic devices, of which embedded systems are an important component. Particularly, the adoption of smart electronic devices such as electricity and water meters is a significant growth factor of this industry on a global platform.
The rise in use of multicore processors that facilitate high efficiency at the cost of relatively lesser power in embedded systems is also a major growth factor of the industry. Other factors that could lead to the growth of this industry include the declining prices of microcontrollers and growth in the market of the global healthcare industry. The global healthcare industry makes use of a substantial number of embedded systems in smart medical devices such as blood glucose monitors, etc.
On the other hand, the declining market of the global automobile industry could act as a barrier to the growth of this industry, as the automobile industry is one of the major consumers of embedded systems.
Product-wise, the segment of embedded hardware amassed the most revenues for this market in 2012, an estimated 90% of the total global revenues of this market. This segment is expected to maintain its lead position in the market during the forecast period as well, adds the report.
Browse the full Embedded System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/embedded-system.html
Application-wise, the automobile segment was seen holding the highest market shares of this industry and was worth an estimated USD 27 billion in 2012. However, during the forecast period the segment of consumer electronics is estimated to observe growth at the highest pace - at an estimated CAGR of 7.4%.
Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1 518-618-1030, [email protected]
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