Embedded System Market Projected To Reach USD 116.2 Billion By 2025Posted by Tom C on November 28th, 2023 The global embedded system market is poised for substantial growth, according to the latest market research report released by MarketsandMarkets. The market, valued at USD 86.5 billion in 2020, is forecasted to expand at a Compound Annual Growth Rate (CAGR) of 6.1% during the period from 2020 to 2025, reaching an estimated value of USD 116.2 billion by 2025. Embedded systems, the cornerstone of modern technology, have seen exponential growth owing to their integration into a wide array of applications across industries. These systems encompass hardware and software designed for specific functions within larger mechanical or electrical systems, powering devices from smartphones and automobiles to medical equipment and industrial machinery. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=98154672 Key factors driving the growth of the embedded system market include:
The market analysis highlights that Asia Pacific is expected to exhibit significant growth in the embedded system market during the forecast period, driven by rapid industrialization, technological advancements, and increasing investments in sectors such as automotive, healthcare, and consumer electronics. MarketsandMarkets anticipates considerable opportunities for key players operating in the embedded system industry. Companies are focusing on R&D initiatives, collaborations, and strategic partnerships to innovate and cater to the evolving needs of various sectors. Leading companies in the global embedded system market include Intel (US), STMicroelectronics (Switzerland), Renesas (Japan), Texas Instruments (US), NXP Semiconductors (Netherlands), Intel Corporation (US). Like it? Share it!More by this author |