According to the research report titled ‘Global Embedded Processor Market Size study, by Product Type (Microprocessor, Microcontrollers, Digital Signal Processor, Embedded FPGA, and Others), by Application (Consumer Electronics, Automotive & Transportation, Industrial, Healthcare, IT & Telecom, Aerospace & Defense, and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global embedded processor market was evaluated at USD 20.95 billion in 2020 and is anticipated to be worth USD 36.37 billion by 2027, expanding at 8.2% CAGR between 2021-2027.
 

Surging demand for high processing speed and storage capacity, coupled with growing consumption in end-use industries such as mechanical, electronics, electrical, and others are they key factors driving global embedded processor market expansion.
 

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For the unversed, embedded processor is a type of computer chip which is capable of handling multiple processors in real time and takes care of operations of a computer. It is primarily used to control mechanical and electrical systems, and provides features such as retrieval of data from memory and storing it.
 

Rising demand of embedded processors for consumer electronics, launch of new products, and technological advancements will aid revenue inflow in the forthcoming years. Citing an example, in May 2021, CAST Software and Fraunhofer Institute for Photonic Microsystems launched the RISC-V Functional Safety Processor IP Core for airborne, automotive, and other safety-critical applications.
 

On the other hand, lack of skilled labor and high implementation costs are poised to act as challenges for businesses in this domain.
 

Based on product gamut, worldwide embedded processor industry is split into microcontrollers, microprocessor, embedded FPGA digital signal processor, and others. Speaking of application scope, the market is divided into automotive & transportation, consumer electronics, industrial, IT & telecom, healthcare, aerospace & defense, and others.
 

From regional frame of reference, North America held majority of global embedded processor market share in the recent past, owing to presence of large IT companies and growing research & development activities. Meanwhile, Asia Pacific market is projected to register considerable expansion between 2021-2027, due to growing per capita income and increasing adoption of IoT technology.
 

Leading players profiled in the report are Texas Instruments Incorporated, NXP Semiconductors N.V., Broadcom Corporation (Broadcom Inc.), ON Semiconductor, STMicroelectronics N.V., Microchip Technology Inc., Intel Corporation, Renesas Electronics Corporation, Infineon Technologies AG, and Analog Devices Inc.