Wednesday, July, 17, 2019 12:29:52

Embedded System Market Size in North America is Projected to Worth USD 84 Billion by 2023

North America embedded system market size is projected to be worth USD 84 billion at a growing CAGR of 5.7% in the near future. Europe is anticipated to pick up the pace during the projected period and surpass USD 62 billion over the predicted time frame. Asia Pacific market is likely to register USD 81 billion by 2023 owing to the largely available skillful professionals in software development.

Global Market Insights Inc. announces the release of a comprehensive research report on embedded system market. The report projects the market to witness burgeoning growth and surpass US$258.72 billion by 2023. Smart grid initiatives, rising investments in automation technologies and persistent growth in consumer electronic devices segment is likely to drive the demand.

To access a sample copy or view the embedded system market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/117

Following are the projected key trends of embedded system market:

  • Designing Secure Systems on Focus
  • Emergence of M2M Communication drives Demand for Embedded M2M Solutions
  • Smart devices and vehicles open up the application avenues
  • Growing Role of Electronic Control and Signaling in Railway Networks creates prospects
  • Advancement in Medical and Healthcare Boosts Market Opportunities

Embedded system is a combination of computer software and hardware specifically designed or programmed to execute a particular function. It plays an important role in almost every electronic device. An MP3 player, cell phone, control menu on TV systems, are a few examples of day to day applications of this system.  It is found wide acceptance in every sector including automobiles, Industrial machines, cameras, medical equipment, airplanes, household appliances, toys, vending machines, and many more. It is a key enabler of a smart device. The advent of semiconductor technology has led to declining costs of microprocessors together with reduced manufacturing costs have contributed to widen the horizon of advanced microcontrollers’ applications.

Automotive sector valued USD 34.64 billion in 2015 which is likely to attain USD 56.04 billion by 2023, growing at a CAGR of 6% from 2016 to 2023. Increasing acceptance of hybrid as well as electric vehicles in order to control emissions is likely to fuel the embedded system market growth. Healthcare sector is likely to grow at a CAGR of 6.3% over the next few years. Rising need for portable medical devices in this application is predictable to boost the global growth.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/embedded-system-market

Key participants of the moderately competitive embedded system market include Renesas Electronics, Freescale Semiconductor, Microchip, Infineon Technologies, Atmel Corporation, Samsung, STMicroelectronics and Texas Instruments.

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.