IMARC Group's report titled "Embedded Software Market Report by Operating System (General Purpose Operating System (GPOS), Real-Time Operating System (RTOS)), Function (Standalone System, Real-Time System, Network System, Mobile System), Application (Automotive, Consumer Electronics, Manufacturing, Healthcare, Military and Defense, IT and Telecom and Others), and Region 2023-2028". The global embedded software market size reached US$ 14,824 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 23,811 Million by 2028, exhibiting a growth rate (CAGR) of 8.30% during 2023-2028.
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Factors Affecting the Growth of the Global Embedded Software Industry:
- Increasing Demand for IoT Devices:
One of the primary drivers of the Embedded Software market is the growing demand for Internet of Things (IoT) devices. These devices are becoming increasingly prevalent in various industries, including healthcare, automotive, and manufacturing. Embedded software is essential for the functioning of these devices, as it enables seamless communication and data processing. It serves as the underlying programming that runs on these devices, allowing them to function as intended. Embedded software is responsible for tasks like data collection, data processing, communication with other devices or the cloud, and decision-making based on the collected data.
- Rising Adoption of Automotive Electronics:
The automotive industry is witnessing a rapid increase in the integration of electronic systems, ranging from infotainment systems to advanced driver-assistance systems (ADAS). This surge in automotive electronics is boosting the demand for embedded software, which is critical for ensuring the reliability and functionality of these systems. Embedded software is essential for ensuring the smooth operation of these systems, as it controls and coordinates the hardware components, making them function harmoniously. Besides, features like voice recognition, touch-screen interfaces, and seamless smartphone integration make driving more convenient and enjoyable for consumers, further driving the demand for advanced embedded software solutions.
- Industrial Automation and Industry 4.0:
Industries are increasingly adopting automation and Industry 4.0 practices to improve efficiency and productivity. Embedded software plays a pivotal role in controlling and monitoring automated systems, making it an indispensable component in the industrial landscape. It acts as the brain of automated systems, providing real-time control and monitoring capabilities. It governs the operation of robotic arms, conveyor belts, sensors, and other machinery used in manufacturing processes. This software ensures that these components work together seamlessly and efficiently to carry out specific tasks.
Leading Companies Operating in the Global Embedded Software Industry:
- Advantech Co. Ltd
- Green Hills Software
- Intel Corporation
- Intellias
- L&T Technology Services Limited (Larsen & Toubro Ltd.)
- Microsoft Corporation
- NXP Semiconductors N.V
- Siemens
- STMicroelectronics N.V
- Xilinx Inc. (Advanced Micro Devices Inc.)
Global Embedded Software Market Report Segmentation:
By Operating System:
- General Purpose Operating System (GPOS)
- Real-Time Operating System (RTOS)
General purpose operating system (GPOS) represented the largest segment as it is designed to be versatile and adaptable, capable of running a wide range of applications and functions. This versatility makes it a popular choice for embedded systems across various industries.
By Function:
- Standalone System
- Real-Time System
- Network System
- Mobile System
Standalone systems hold the largest market share as they are designed to operate independently, without the need for continuous external connectivity or reliance on other systems.
By Application:
- Automotive
- Consumer Electronics
- Manufacturing
- Healthcare
- Military and Defense
- IT and Telecom
- Others
IT and telecom sector represented the largest segment as it depends on embedded software for managing the complex infrastructure that supports global communication networks.
By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America was the largest market for embedded software due to technological advancements, research and development (R&D) activities, and significant growth in the automotive industry.
Global Embedded Software Market Opportunities:
The Internet of Things (IoT) is expanding across various industries, creating a massive demand for embedded software solutions. Hence, it provides ample opportunities for developing software for IoT devices, sensors, and gateways, as well as for managing and analyzing the data generated by these devices. Moreover, the deployment of 5G networks and the expansion of telecommunications infrastructure require advanced embedded software for network optimization, virtualization, and security, thus providing opportunities for software providers to cater to these needs.
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