ID: MRFR/SEM/1571-HCR | February 2021 | Region: Global | 110 pages
To control the functions of the embedded device, a chip is inserted with special programming which is called Embedded Software. The constant growth of consumer electronic devices and the rise in automation technologies investments are the major growth factors that change the global market of Embedded software. As every connected device contains embedded software, the increase in communication devices leads to an increase in the Embedded Software Market Analysis.
The smart electricity meters with the introduction of energy efficiency policies can grow the global market over the Embedded Software Analysis. The Embedded software Market Segment is having an expectation of 9 % growth by 2022 from 2016 which is possible by the safety and security concerns with real-time constraints.
The COVID-19 pandemic has changed the way of life through over the world, which is high in business. Due to the spread of coronavirus and continuous lockdowns, most of the business sectors have fallen. The major sectors that are negatively influenced by coronavirus are automobiles, chemicals, semiconductors and electronics, agriculture, etc.
The global embedded software market segment is taking up necessary solutions which are cost-effective. Apart, trying to measure to counter the demand slump and by providing the best insights into the market which rises the growth of the market for the manufacturers. The embedded software analysis predicted and aims to boost the manufacturers by the end of this year 2021. Artificial Intelligence and Virtual Reality are the best solutions.
The Surge in the demand for ADAS in EV and hybrid vehicles
Redesigning the automotive industry is one of the major roles played by an embedded system. These are used in ADAS technology which is incorporated in electric and hybrid vehicles. The growth among these vehicles led to the growth of the Embedded system market. Further, these electric vehicles lead to a rise in electronic components which increases the demand for Embedded software Market Analysis.
The advent of 5G and the development of 5G based embedded devices
It is one of the expectations of the growth of the embedded software market. According to the GSMA, the 5G market is expected to increase by 5.3% of the global GDP growth by 2034. That results in the growth of production of 5G technology is increased. This 5G technology is used in industrial automation, smart farming which enables fast image processing.
The vulnerability of embedded systems to cyber threats and security breaches
The major factor that hampers the growth of the embedded security software market is the security of the embedded device. The memory in the embedded devices contains information that could be critical regarding banks, data centers, military forces, etc. The factors like remote deployment, irregular security updates, long device lifecycle, and attack replication make the systems vulnerable to cyberattacks. That expected to restrain the growth of the embedded software market.
Due to additional features in the embedded system, the architecture becomes complex which leads to high energy consumption. It increases the rise in temperature of the device which affects the overall performance. This is the severe challenge over the growth of embedded software market analysis.
Value Chain Analysis
Real-time embedded systems accounted for a large share in the embedded software market. These are used in high responsiveness rates. Network embedded systems like LAN, WAN are used to access the resources and perform given tasks.
The Embedded Software Market Analysis is dominated by a few prominent players as follows:
The full report is inclusive of the following:
Frequently Asked Questions (FAQ) :
The global embedded software market valuation is pegged at USD 19 billion by 2022.
The global embedded software market is expected to display a CAGR of 9% from 2016 to 2022.
Rise of internet of things, procurement of consumer electronic devices, and investments in automation technologies are major drivers of the global embedded software market.
North America can dominate the global embedded software market till 2022.
Asia Pacific can showcase the fastest growth for the global embedded software market owing to rising industrialization and urbanization.