According to the research report titled ‘Europe Embedded Software Market Forecast 2027 By Application, By Operating System, By Function, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe embedded software market is anticipated to reach USD 4 billion by the year 2027.

Report findings suggest that increasing adoption of modern technologies such as IoT with potential to improve the efficiency, automation, and intelligence of manufacturing plants across industries is the major growth determinant for Europe embedded software market.

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Strategic partnerships among companies to push the technology development & introduction is expected to drive the industry outlook in the coming years. For instance, Orange S.A. teamed with Sierra Wireless, STMicroelectronics, and LACROIX to create an IoT Continuum and increase the adoption of this technology in many business sectors. Introduction of IoT Continuum is anticipated to develop a wide variety of software, hardware, connectivity, and manufacturing solutions.

Based on function, the mobile system segment held 15% revenue share in 2020 and is slated to grow significantly through 2027, owing to growing demand for high-end devices like tablets, minicomputers, and handheld printer terminals to control the operations efficiently and remotely.

In terms of operating system, the QNX RTOS segment of Europe embedded software industry is poised to record 7% CAGR through 2027, due to the widespread incorporation of this operating system in complicated safety systems for power generation, rail transportation, and robots, as it offers data safety, security, reliability, and scalability.

Geographically, Italy industry is predicted to progress at 4.5% CAGR over the analysis timeframe. This growth can be credited to extensive adoption of IoT and AI in healthcare vertical monitor a patient’s progress in remote settings. Integration of embedded systems in CT scanner and MRI devices to improve the quality & efficiency of treatments will further impel the market share.

VIA Technologies Inc., Toshiba Corporation, Texas Instruments Incorporated, Siemens AG, SEGGER Microcontroller Systems LLC, Renesas Electronics Corporation, National Instruments Corporation, Mitsubishi Electric Corporation, Microsoft Corporation, Microchip Technology Inc., LG CNS Co. Ltd., L&T Technology Services Limited, Intel Corporation, IBM Corporation, HCL Technologies Limited, Green Hills Software, GlobalLogic, Enea AB, Emerson Electric Co., Elektrobit Automotive GmbH, Dexcel Electronics Designs Private Limited, Artesyn Embedded Technologies, Advantech Co. Ltd., and Accenture plc are the leading players in Europe embedded software marketplace.