NEW YORK, USA, May 25, 2023 (GLOBE NEWSWIRE) — According to a research report published by Market Research Future (MRFR), “Embedded technology market Information Deployment Mode, by Platform, Hardware, Application, and Region – Forecast to 2030 The embedded technology market could advance at a rate of 7% between 2022 and 2030. The market size will reach approximately $116 billion by the end of 2030.
Embedded Technology Market Overview:
Embedded technology refers to the integration of computer systems into other devices or systems to perform specific functions or control various aspects of their operation. It is a vital aspect of the Internet of Things (IoT), which allows devices to communicate with each other and with the cloud, leading to greater efficiency, automation and connectivity. Embedded technology is used in a wide range of industries, including automotive, healthcare, consumer electronics, industrial automation, aerospace and defense.
The use and application of embedded technology is widespread, and its integration has led to significant improvements in efficiency and automation. In the automotive industry, embedded technology is used in advanced driver assistance systems (ADAS) and in-vehicle infotainment systems to improve safety and provide a better driving experience. In healthcare, embedded technology is used in medical devices such as pacemakers, insulin pumps, and continuous glucose monitoring systems. It allows healthcare professionals to monitor patients’ health remotely and provide timely interventions when needed. In the industrial sector, embedded technology is used for process automation, machine control and monitoring, leading to better productivity and operational efficiency.
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Embedded Technology Market Competitive Landscape:
Wealthy companies in the Embedded Technology industry include
- Texas Instruments
- Renesas Electronics Corporation
- Samsung Intel
- Microsoft Corporation
- Infineon Technologies AG
- Renesas Electronics Corporation
- NKSP Semiconductors
- Atmel Corporation
Scope of the Report – Embedded Technology Market:
Metrics reportDetailsMarket size by 2030 USD 116 billion CAGR during 2022-20307% Base year 2022 Forecast 2023-2030 Key market opportunities High consumption of electronic products Key market dynamics Increasing demand from automotive and telecommunication industries.
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Industry News – November 2021:
Tekas Instruments, one of the leading players in the embedded technology market, announced the launch of a new high-performance microcontroller that offers advanced security features for applications in the automotive, industrial and telecommunications industries. The device includes features such as secure boot and secure firmware updates, enabling secure remote system updates.
USP Embedded Technology Market Covered:
The embedded technology market is driven by several factors, including the increasing adoption of IoT and smart devices, growing demand for automation and efficiency, and the development of advanced technologies such as artificial intelligence and machine learning. The rise of Industry 4.0 and the digitization of manufacturing processes are also fueling the demand for embedded technology in the industrial sector.
The embedded technology market is not without limitations. High development and deployment costs, as well as the complexity of integrating embedded systems with existing systems, can be a significant challenge for companies looking to adopt this technology. Additionally, lack of standardization and compatibility between devices may hinder market growth.
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Analysis of COVID 19
The COVID-19 pandemic has had a mixed impact on the embedded technology market. On the one hand, the pandemic has accelerated the adoption of IoT and remote monitoring devices in healthcare and other industries. On the other hand, disruptions in the supply chain and slowdown in production activities affected the growth of the market. However, as the world recovers from the pandemic, the market is expected to recover and grow at a steady pace.
Embedded technology market segmentation
- By Platforms- Platforms in the market include cardiovascular diseases, diseases, cancer, chronic respiratory diseases and others.
- By hardware- By hardware, the segment includes IP processors, MCU/MPU, ASIC, FPGA
- By Application- By application, the segment includes automotive, consumer electronics and aerospace.
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North America is currently the largest market for embedded technology, with the United States being the largest contributor to growth. The region has a well-established technology infrastructure and a number of prominent industry players. High demand for automation and smart devices in the region has also contributed to the growth of the market. Further, Europe is also a significant market for embedded technology, with countries such as Germany and the United Kingdom contributing heavily to growth. The region has a strong focus on industrial automation and smart city initiatives, which has led to the adoption of advanced embedded technology solutions.
In addition, the Asia Pacific region is expected to witness significant growth in the coming years, driven by the increasing adoption of IoT and smart devices, especially in countries such as China and India. The rapid growth of the industrial and automotive sectors in the region is also expected to contribute to the growth of the market.
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