Embedded Computing Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Posted May 5, 2021 by Statzyreports

The embedded computing systems market is expected to register a CAGR of 6.6% during the forecast period (2021 - 2026).
The embedded computing systems market is expected to register a CAGR of 6.6% during the forecast period (2021 - 2026). With the rise of IoT, advanced technologies for embedded security are likely to emerge as a crucial generator for identifying devices in an IoT network, and as microcontroller security solutions that isolate security operations from generic operations.

- Embedded industrial systems connected to the internet and cloud in a traditional development cycle takes weeks or months to deploy. Thus, cloud connectivity tools for embedded systems are essential tools to simplify the process of connecting embedded systems with cloud-based services by reducing the underlying hardware complexities.

- Moreover, reduced energy consumption, visualizations tool with real-time data, and deep learning applications are key future trends for embedded computing systems. For instance, in October 2018, GE unveiled its latest product innovations to release two new control solutions. Built on the capabilities of Industrial Internet Control System (IICS), Intelligent Platforms PAC Systems RX3i CPL410 (the first-ever outcome that will optimize open controller) and Equipment Insight 2018 (remote monitoring as a service platform) both designed to harness the combined power of edge controls and analytics to deliver actionable intelligence across the industrial ecosystem.

- Furthermore, an embedded computing system is the heart of any vehicle electronic system due to its versatility and flexibility. In the current market scenario, a vehicle containing around 30-35 microcontrollers and luxury vehicles contains 70-75 microcontrollers. These include embedded airbag systems, embedded navigation systems, adaptive cruise control, embedded rain sensing systems, etc.

- Embedded computing systems play a vital role in many applications in the healthcare industry. They are used for monitoring vital signs, for amplifying sounds in electronic stethoscopes, and in nearly every kind of imaging system, including PET scans, CT scans, and MRIs. Glucose monitors, pacemakers, CPAP machines, and a variety of biomedical sensors rely on embedded systems.

- With the outbreak of COVID-19, the Embedded Computing Systems market has been thoroughly affected by the current developments due to the significant disruption in the global supply chain, which trickles down the embedded computing industry, thus resulting in slower growth of the market.

Key Market Trends

Consumer Electronics to Witness Significant Growth

- Embedded computing systems are an integral part of consumer electronics devices. Devices, such as mobile phones, laptops, personal computers, and gaming consoles, depend on embedded computing technology. Increasing the standard of living, awareness about the technology, and falling prices of consumer electronics devices have increased the penetration of consumer electronics equipped with embedded computing among end-user verticals.

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- With the advent of IoT, embedded systems have been significant across the consumer electronics segment. Connecting consumer products, such as smartphones, heart rate monitoring devices, and smart home appliances, to track, monitor, control, and adapt, is likely to add significant value to the embedded computing systems market.

- Microprocessors are an essential part of any consumer electronics product. For instance, ARM Cortex M7 core product and the first low-power ARM Cortex M4 as a mix of low power consumption and power-processing performances suit perfectly for wearable product requirements.

- According to GSMA, smartphones accounted for 60% of mobile devices' connections in 2018, which is expected to reach 80% connections by 2025. Moreover, there are currently 10 billion IoT connections in 2019, which is expected to reach 25 billion by 2025. Thus, with the growth of smartphone and IoT devices in the market, the need for embedded computing systems is expected to increase in the coming years.

North America Occupies the Largest Market Share

- The North American region is expected to hold a significant share of the market, primarily due to the high adoption of technology and the presence of major vendors in the region. Moreover, with the rise of robotics and rising applications of IoT in the region, there is an increased demand for embedded computing systems.
- For instance, in October 2019, the US DoD announced an emerging open-architecture embedded computing standard SOSA (Sensor Open Systems Architecture) that can enable the US Military to specify embedded computing systems that are economical, powerful, upgradable, and competitive, which is expected to launch in mid 2020.

- The region is witnessing major investments in the healthcare industry towards digitization, all the healthcare giants in the region are migrating to graphic and compute-intensive applications, such as advanced computers in all operating rooms, diagnostic workstations, and bedside monitors showing visuals and advance nursing stations. Moreover, with the increasing industrial automation and IIoT systems, the market is expected to increase demand during the forecast period.

Competitive Landscape

The embedded computing systems market is highly competitive, owing to the presence of many small and large players operating in domestic and international markets. The market appears to be moderately concentrated, with the significant players adopting strategies like product innovation and mergers and acquisitions. Some of the key development in the market are:

- In August 2019 - IBM partnered with MIT to give artificial intelligence computing for nearly USD 12 million. The machine will let MIT researchers run more ambitious AI models. This can help to enhance their computing power and allow researchers to exchange data with all major commercial cloud providers and prepare their code to run on IBM Summit supercomputer.

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Tags Embedded Computing Systems Market , Embedded Computing Systems Market size , Embedded Computing Systems Market share , Embedded Computing Systems Market forecast , Embedded Computing Systems Market Trends , COVID-19 Impact
Last Updated May 5, 2021