Demand from the Automotive Industry to Spur the Embedded Market 2027
Embedded Technology is an integration of hardware & software designed for a specific function or for specific functions within a larger system. In other words, embedded technology is application specific system serving in various industries such as automotive and telecommunication sectors where software plays an important role hand hence the security for system becomes challenging.
Electrical and electronic circuits and kits are designed to use embedded technology. Also, the computers, tablets, mobile phones, laptops, digital electronic systems, and other electrical and electronic gadgets are designed using embedded technology. With such widened uptake and demand, it is needless to say that the embedded technology market is expanding constantly.
Market Research Future (MRFR), in its recently published research report, asserts that the global embedded technology market is booming and expected to grow exponentially by 2027, registering a striking CAGR throughout the forecast period 2017-2027.
Growing application areas and high adoption of cloud computing are playing a vital role in the growth of the market. With every technology inside automobiles and airplanes evolving dramatically, the need for embedded technology and cloud computing is expected to rise subsequently. Engineers are embracing the new-generation tools that can automate the generation and verification of robust, safe system architectures.
Additional factors substantiating the market growth include the growing implementation of embedded technology to lower the operational cost, and the increasing awareness about the system.
On the other hand, technical complexity and incompetence are some of the factors bottlenecking the market growth. Also, the high cost of hardware and software are expected to impede the market growth of the market.
Drivers and Constraints Impacting the Market
With a significant boom in the number of mobile users coupled with its penetration into the metropolitan population across emerging and developed countries, the global embedded technology system market is considered to flourish. The augmenting demand from the telecommunication and automotive sector, where software is considered to play a crucial role, is considered to stimulate the market growth during the assessment period. In several economies, consistent importance has been provided to develop the infrastructure of wireless communication owing to the accelerating number of users for smartphones and tablets, which require internet connectivity. This further contributes to the market growth to a great extent. Moreover, the high adoption of cloud computing and increasing application areas are influencing the market growth to a great extent. With every technological advancement inside airplanes and automobiles, the need for and cloud computing and embedded technology is likely to grow. Engineers are thus adopting new-generation tools that help to automate the verification and generation of safe and robust system architectures. Also, the rising implementation of embedded technology in order to minimize the operational cost is considered to contribute to the market growth.
On the flip side, technical complexity coupled with incompetence is some of the major concerns considered to impede the market growth to a great extent. Moreover, the high cost of software and hardware are anticipated to dampen the market growth during the appraisal period.
Industry Updates
August 28, 2018: An embedded systems solutions company which produces single board computers, Technologic systems (US) has recently announced that it will be exhibiting its Touch Panel PCs, Single Board Computers, and Computer-on-Modules at Sensors Midwest. The company will also provide hardware samples, live demonstrations, and engineers to answer questions.
Competitive Dashboard
The prominent players operating the global embedded technology market are Texas Instruments (U.S.), Samsung (South Korea), Renesas Electronics Corporation (Japan), Microsoft Corporation (U.S.), Atmel Corporation (U.S.), Infosys Ltd. (India), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), and STMicroelectronics (Switzerland).
More Information@
Embedded Technology Market Report- Global Forecast 2027 | MRFR
Embedded Technology Market categorizes by Platforms, Hardware, Software, Application, The main…
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