Your Oil Software News | Embedded Software Market size to reach $18.61bn by 2023

Embedded Software Market size to reach $18.61bn by 2023

Thursday, Jul 21, 2016

Embedded Software Market size is estimated to reach USD 18.61 billion by 2023; as per a new research report by Global Market Insights, Inc.

Escalating usage of wearable devices across a wide range of numerous application sectors such as medical, fitness, security and safety is expected to catalyze real time operating system (RTOS) market growth.

Rising demand for sophisticated features as well as application is anticipated to drive global embedded software market size through 2023. Systems equipped with this software offer minimum latency along with high-speed data throughput while data sharing. They also provide high interoperability, tremendous effective performance and precise integration for digital home devices. Compatibility with IP (internet protocol), IPv6 and IPv4 allows users to remotely control devices.

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Growing customer demand for smart electronic devices such as smartphones, tablets, as well as laptops is anticipated to positively impact embedded software market trends over the next seven years. It helps manufacturers to develop highly advanced devices with effective features such as elevated performance, high productivity and optimized power-efficiency.

These systems are majorly used for designing telematics products, and also aid in designing in-vehicle infotainment products. It offers customers with various in-car features such as entertainment, navigation, internet-based services as well as external communication. Other benefits include continuous monitoring of vehicle parameters such as airbag, ABS (antilock braking systems) and tire inflation, which aids in increasing overall safety quotient and meeting NCAP standards.

Rising significance and penetration of HEVs (hybrid electric vehicles) and EVs (electric vehicles) is also forecast to have significant impact on the embedded software industry in the coming years.

Browse key industry insights spread across 92  pages with 67 market data tables & 10 figures from the report, “ Embedded Software (Real Time Operating System [RTOS]) Market Size By Application (Automotive, Healthcare, Consumer Electronics, Military & Defense, Industrial, Telecommunication), By Programming Language (C, C++, Assembly, Java, .NET), Industry Analysis Report, Regional Outlook (U.S., UK, Germany, China, India, Japan, Brazil), Application Potential, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:

Traditional systems had high energy consumption rate even with simple functionality. Technology advancements paired with innovation are anticipated to positively impact embedded software market size. They facilitate high energy conservation due to minimizing power consumption offered by these products. It holds the potential capability of identifying critical process and allocates power accordingly.

The ability to communicate autonomously with other systems is anticipated to hamper demand over the forecast timeframe. Rising prominence of infotainment devices such as navigation systems will offer growth opportunities.

Key insights from the report include:

  • Automotive sector accounted for nearly 12% of the embedded software market share in 2015 and it is predicted to grow at 8.3% CAGR from 2016 to 2023.
  • Swift adoption of tablets, PCs and smartphones is likely to justify growth in the consumer electronics segment. The application is estimated to account for more than 22% of the overall industry share by 2023, growing at 7.7% CAGR from 2016 to 2023.
  • Direct access to API (application program interface) as well as short run-time offered is responsible for continued dominance in the C programming language segment, which was valued at USD 6.34 billion in 2015. It is expected to grow at 6.9% CAGR from 2016 to 2023.
  • U.S. embedded software market share represented majority of the North American revenue in 2015. Existence of large number of industries is likely to augment regional growth.
  • Key industry participants are Altera, Infineon, IBM, Johnson Matthey, Intel, LG CNS, Mentor Graphics, Xilinx, Advantech, Express Logic, Green Hills Software, ENEA, and Microsoft.

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Global Market Insights has segmented the embedded software industry on the basis of programming language, application and region:

Global Embedded Software Market Programming Language Analysis (Revenue, USD Billion, 2012 – 2023)

Global Embedded Software Market Application Analysis (Revenue, USD Billion, 2012 – 2023)

  • Automotive
  • Healthcare
  • Consumer electronics
  • Military & defense
  • Industrial
  • Telecommunication

Global Embedded Software Market Regional Analysis (Revenue, USD Billion, 2012 – 2023)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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About Global Market Insights

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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Global Market Insights, Inc.

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Source: Global Market Insights, Inc.