According to the research report titled ‘Embedded Systems Market Size By Component By Function, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global embedded systems market is expected to register a remunerative growth rate during 2020-2026.
 

An embedded system is a combination of a computer software and hardware, which can either be programmed or fixed in a system to perform a specific task or set of various functions withing a large system.
 

Growing inclination towards automated and digitalized solutions across various high-revenue sectors is a major factor driving embedded systems industry growth. These systems are widely used in toys, mobile devices, household appliances, airplanes, medical equipment, cameras, industrial machines, agricultural equipment and automobiles. They offer advanced user interface and multiple functionality in either simplistic or complex devices. Additional factors such as rising adoption of wearable devices, shifting preferences towards IoT and AI technologies and growing demand for embedded systems in military & defense sector are further aiding the market expansion.  
 

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By function, standalone system segment accounted for 5% market share in the recent past and is predicted to expand substantially during the estimated timespan. Rising adoption of such systems in consumer electronics industry is fueling the segmental growth.
 

Global embedded systems market share from industrial application is expected to record a y-o-y growth rate of 8% between 2020 and 2026. Incorporation of automated systems and robotics technology in industrial processes is boosting the market share.
 

Considering the geographical landscape, Latin America embedded systems market is expected to grow with a CAGR of 3% through 2026. Surging investments in electronics manufacturing sector is complimenting the business scenario in the region.
 

Toshiba Corporation, Texas Instruments Inc., STMicroelectronics, Samsung, Renesas Electronics Corp., Qualcomm Technologies Inc., NXP Semiconductor N.V., Microchip Technology Inc., Marvell Technology Group Ltd., Lattice Semiconductor, Intel Corp., Infineon Technologies, Fujitsu Ltd., Cypress Semiconductor Corp, Broadcom Ltd., Atmel Corp., ARM Holdings and Analog Devices Inc. are the major contenders in embedded systems market.