Recent market analysis by Global Market Insights Inc. cites that the global embedded system market size  could cross USD 250 billion by 2032. The consistently evolving technological landscape across both developed and developing economies and the increasing penetration of AI, IoT, and robotics across the industrial sector betokens a promising future for embedded systems.

An embedded system is a fusion of computer memory, computer processor, and other output/input peripheral devices finding extensive usage in a variety of applications. These include consumer, industrial, automotive, medical, telecommunication, commercial, aerospace, and military, fostering their adoption over the forthcoming years.

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The increasing integration of embedded systems in smart home appliances, the proliferation of wearable technology across the electronics sector, and growing product usage in healthcare applications are some key growth drivers influencing the market dynamics.

Described below are some key trends favoring the embedded system market growth:

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1. Robust technological developments across the automotive sector

Automotive manufacturers globally have been focusing on upgrading existing mobility solutions and safety systems by integrating cutting-edge features such as AEB and ADAS. This, in turn, will escalate the uptake of embedded components, such as memory, microcontrollers, FPGAs, microprocessors, etc., that will enhance market performance over the ensuing years.

In a recent turn of events, in April 2023, Skill-Lync, an Edtech startup, teamed up with CORDOBA to boost professionals' skillfulness in automotive-embedded software development while helping them attain first-hand experience with their own MATLAB licenses and AUTOSAR. The partnership is an extension of Skill-Lync’s existing association with Mathworks and seeks to bridge the skill gap in the industry by delivering experienced professionals the distinctive skill sets that suit the industry requirements, particularly in the automotive space. These strategies will aid the penetration of embedded systems across the automotive industry, thus, bolstering market revenues through 2032.

2. Thriving smart wearables business to add significant impetus

Since its inception, wearable technology has come a long way. Ranging from GPS trackers, headphones, smart glasses, smartwatches, fitness trackers, and heart rate monitors to many more, the technology has already become an everyday companion actively used for both work-related and personal purposes.

According to IBEF estimates, India can export wearables and hearables worth around USD 2-3 billion by 2025-26. With almost every industry globally becoming extensively data-driven, the demand for wearable app development services is gaining significant traction. As companies in the industrial space find ways to utilize wearable technology to solve their business issues, the embedded system market share is set to grow considerably in the foreseeable future.

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3. New product developments to pave the way for future growth prospects

The ongoing digitization and automation trends across enterprises, in line with the widespread utilization of online services pushed by the increasing smartphone penetration, have resulted in massive growth in global data. This has induced the need to introduce efficient data storage facilities, such as data centers and hyperscale data centers, to suffice these requirements.

To that end, in March 2023, to ramp up its participation in the embedded systems space, AMD announced that it has kickstarted sampling its new range of EPYC Embedded 9004 Series processors. The production volume shipping is expected to begin in April 2023. The processors are well suited for applications in networking, factory floor industrial systems, security, cloud & enterprise computing, and storage systems and have already lured two behemoths like Siemens and Advantech.

While all these factors are likely to induce a positive influence on the market demographics, several other aspects, such as the expansion of the existing EV fleets and the large-scale uptake of consumer electronics, will positively sway the embedded system business growth during the estimation period.

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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