NEW
YORK, Aug. 13, 2024 /PRNewswire/ -- The global
embedded software market size is estimated to grow by USD 8.92 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
9.45% during the forecast period. High adoption of
embedded software in semiconductor industry is driving market
growth, with a trend towards emergence of embedded
software in in-vehicle infotainment. However, data security
and privacy issues poses a challenge. Key market players
include Advantech Co. Ltd., BlackBerry Ltd., Emerson Electric Co.,
Enea AB, Green Hills Software LLC, Intel Corp., International
Business Machines Corp., Lantronix Inc., Microchip Technology Inc.,
Microsoft Corp., Mitsubishi Electric Corp., National Instruments
Corp., NEC Corp., NXP Semiconductors NV, Reliance Industries Ltd.,
Siemens AG, STMicroelectronics International N.V., Texas
Instruments Inc., Toshiba Corp., and VIA TECHNOLOGIES Inc..
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Embedded Software
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.45%
|
Market growth
2024-2028
|
USD 8924.4
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.42
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
42%
|
Key
countries
|
US, China, Germany,
Japan, and UK
|
Key companies
profiled
|
Advantech Co. Ltd.,
BlackBerry Ltd., Emerson Electric Co., Enea AB, Green Hills
Software LLC, Intel Corp., International Business Machines Corp.,
Lantronix Inc., Microchip Technology Inc., Microsoft Corp.,
Mitsubishi Electric Corp., National Instruments Corp., NEC Corp.,
NXP Semiconductors NV, Reliance Industries Ltd., Siemens AG,
STMicroelectronics International N.V., Texas Instruments Inc.,
Toshiba Corp., and VIA TECHNOLOGIES Inc.
|
Market Driver
Infotainment systems, which blend information and entertainment,
have gained popularity due to technological advancements and the
increasing demand for personalized in-vehicle experiences. These
systems integrate software and hardware devices, such as navigation
systems, Internet and Wi-Fi connectivity, audio and video systems,
display screens, social networking applications, and telematics
systems, using embedded software. Telematics, a navigation system,
and smartphone integration have become standard features in these
systems. The automotive industry's growth significantly contributes
to the market's expansion, with safety being a primary concern for
buyers. Embedded software offers essential safety features to
prevent accidents. To meet evolving consumer preferences, Original
Equipment Manufacturers (OEMs) collaborate with smartphone and
tablet manufacturers to provide in-vehicle products and services.
For instance, Pioneer offers CarPlay through its aftermarket
in-dash infotainment solutions, while Hyundai's Blue Link
infotainment systems mirror a smartphone on a vehicle display
screen. General Motors' MyLink and IntelliLink infotainment systems
support third-party applications. The increasing demand for hybrid
vehicles worldwide is driving smartphone manufacturers to develop
applications that enable users to connect their smartphones to the
vehicle for real-time battery status updates. BMW's i Remote
application allows BMW i3 users to check their vehicle's battery
capacity while charging. These advancements and applications
necessitate the use of embedded software, leading to market growth
during the forecast period.
The Embedded Software Market is experiencing significant growth
due to the increasing adoption of advanced technology in various
industries. Smart cities, AI, and blockchain technologies are
driving innovation in this space. Companies like STMicroelectronics
are leading the way with solutions like STM32 ZeST for sensorless
motor drives in power tools, appliances, e-bikes, electric
vehicles, and hybrid vehicles. ADAS technology and 5G technology
are revolutionizing the automotive industry, while industrial
automation, smart farming, and embedded security software are
transforming manufacturing and agriculture. Memory, energy
consumption, and real-time embedded systems are key challenges, but
solutions are emerging. Cyberattacks are a concern, but embedded
security software is becoming more sophisticated. Programming
languages like C, C++, and Java are popular, with Microsoft leading
in some sectors. The market is evolving, with professional insights
indicating continued growth in consumer electronics, media and
entertainment, military and defense, IT and telecom, and device
software. Embedded sensor-power systems and real-time data are key
trends in hardware devices and embedded software systems. AI
evolution is set to further disrupt the market.
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Market Challenges
- Embedded software plays a significant role in digitizing
enterprise data on a global scale. However, this trend raises
concerns regarding privacy, security, liability, and intellectual
property protection. The risks associated with embedded software
are higher than those of application software due to its inability
to be altered once implemented. Vendors handle sensitive client
information and financial data, making data security a top
priority. With increasing direct communication among systems,
security requirements are escalating. Despite significant
investments in security, cyberattacks continue to evolve, leading
to data breaches and the need for frequent security updates. These
challenges impact software companies' profitability and, in turn,
the growth of the global embedded software market.
- The Embedded Software Market is a professional insights-driven
sector, experiencing significant growth due to the evolving
technology market. Key industries like Gas Engine, Consumer
Electronics, Media and Entertainment, Military and Defense, IT and
Telecom, and Automotive are major consumers of device software.
Embedded sensor-power systems, real-time data processing, and
hardware devices require embedded software systems for optimal
performance. The AI evolution, 5G network expansion, and autonomous
driving are driving the demand for advanced embedded software.
Embedded systems developers face challenges like device lifecycle
management, security updates, and attack replication. Remote
deployment and real-time simulations are essential for efficient
development and testing. Industries like Automotive are integrating
advanced tech, such as autonomous driving and self-driving ADAS
features, into their applications. Real-time operating systems like
VxWorks and mobile system functions based on Android operating
systems are popular choices. Chip developers and semiconductor
manufacturing facilities are also investing in power semiconductors
and AI technologies like Machine Learning and Automation for their
embedded systems. Healthcare is another sector that benefits from
embedded software, with applications ranging from telemedicine to
medical equipment control. Overall, the Embedded Software Market is
a dynamic and growing sector, presenting numerous opportunities for
businesses and innovators.
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Segment Overview
This embedded software market report extensively covers market
segmentation by
- End-user
- 1.1 RTOs
- 1.2 Compilers
- 1.3 Assemblers
- 1.4 Debuggers
- 1.5 Others
- Application
- 2.1 Automotive
- 2.2 Consumer electronics
- 2.3 Industrial
- 2.4 Aerospace
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 RTOs- The Embedded Software Market is
experiencing significant growth due to the increasing demand for
smart devices and IoT applications. Companies are investing in
developing advanced embedded software solutions to enhance product
functionality and efficiency. This market is driven by the
automotive, healthcare, and industrial sectors, with a focus on
improving performance, reliability, and security. Collaborations
and acquisitions among key players are also contributing to the
market's expansion.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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The global outsourced software testing market is experiencing
significant growth, driven by increasing demand for cost-effective,
high-quality testing services. Companies are turning to third-party
vendors to handle testing processes, ensuring faster time-to-market
and improved product quality. The market is segmented by service
types, including functional and non-functional testing, with key
players offering a range of specialized testing solutions.
North America and APAC lead in
market share, with the rise of AI and automation further propelling
market expansion.
Research Analysis
Embedded Software Market: Professional Insights into the
Evolving Technology Landscape The Embedded Software Market is
experiencing significant growth, driven by the increasing adoption
of advanced technology in various industries. This market
encompasses device software for hardware devices, including
embedded sensor-power systems and real-time data processing. The
Gas Engine Market, Consumer Electronics, Media and Entertainment,
Military and Defense, IT and Telecom, and Healthcare sectors are
major contributors to this market's expansion. The technology
behind embedded software systems is continuously evolving, with AI
evolution, 5G network expansion, and blockchain technologies
playing crucial roles. Embedded software developers are in high
demand as they are essential for the device lifecycle, ensuring
security updates and maintaining optimal performance. Advanced
technology trends such as Artificial Intelligence, Machine
Learning, Automation, and Smart Cities are revolutionizing the way
we live and work. STMicroelectronics, a key player in the
semiconductor industry, is leading the charge with innovations like
STM32 ZeST, which simplifies the development of sensorless motor
drives. The future of embedded software is bright, with endless
possibilities for innovation and growth.
Market Research Overview
The Embedded Software Market is a dynamic and evolving
technology market that focuses on device software for embedded
systems. These systems integrate hardware devices and embedded
sensor-power systems to process real-time data. The market spans
various industries, including Consumer Electronics, Media and
Entertainment, Military and Defense, IT and Telecom, and
Automotive. Technological advancements such as AI evolution, 5G
network expansion, and the rise of autonomous driving are driving
growth in this sector. Embedded software developers are essential
in creating mobile system functions, real-time operating systems
like VxWorks, and AI technologies like Machine Learning and
Automation. The market also includes chip developers and
semiconductor manufacturing facilities producing power
semiconductors. Industries like Healthcare, Smart Cities, and
Industrial Automation are adopting embedded software systems for
advanced technology applications. However, security concerns,
including cyberattacks and energy consumption, are significant
challenges. Real-time embedded systems and network embedded systems
are crucial in various applications, from flight control and
telephone switching equipment to industrial control and real-time
simulations. Programming languages like C, C++, and Java are
commonly used in developing embedded software. Companies in this
sector include STMicroelectronics, with offerings like STM32 ZeST
and sensorless motor drives, and those specializing in power tools,
appliances, E-bikes, Electric Vehicles, and Hybrid Vehicles.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- RTOs
- Compilers
- Assemblers
- Debuggers
- Others
- Application
-
- Automotive
- Consumer Electronics
- Industrial
- Aerospace
- Others
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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