Embedded System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, New York (PRWEB) August 14, 2013
According to a new market report published by Transparency Market Research "Embedded SystemMarket -Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", the market was valued at USD 121 billion in 2011, which is expected to reach USD 194.27 billion by 2018, growing at a CAGR of 6.8% from 2012 to 2018.
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Increasing demand for smart devices such as smart electricity and water meters is a significant driving force for the market. Smart meters facilitate monitoring and management of energy consumption and ensure two-way communication with the utility. The usage of multicore processors in embedded systems in order to facilitate low power consumption and higher efficiency is also a major growth driver. In addition, declining microcontroller prices and growth in the healthcare industry are expected to have a positive impact on embedded system demand over the forecast period.
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This can be attributed to the substantial number of embedded systems used in medical devices such as blood glucose monitors. Downturn in the automotive industry on a global level is expected to act as a barrier for the market in the near future.
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Embedded hardware accounted for over 90% of the overall revenue in 2012, and is expected to continue dominating the market over the next few years. In terms of application, the automotive segment held the highest market share, and was valued at approximately USD 27 billion in 2012. The consumer electronics segment is expected to grow at the highest CAGR of 7.3% from 2012 to 2018. North America was the market leader in 2012, and Asia Pacific is expected to be the fastest growing region, with an expected CAGR of 7.4% from 2012 to 2018. This is largely due to the high demand for consumer electronics in this geography.
The market is fragmented, with key players divided in terms of the products and services they offer. Major industry players include Intel Corporation, ARM Holdings plc, Renesas Electronics Corporation, Freescale Semiconductor, STMicroelectronics, Microsoft Corporation, and Tata Elxsi among others.
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