The Latin America, Middle East and Africa Embedded Systems Market would witness market growth of 8.7% CAGR during the forecast period (2022-2028).
It is anticipated that the embedded system will continue to expand quickly, largely because of the internet of things. Growth in embedded systems is anticipated to be fueled by expanding IoT applications, including wearables, drones, video surveillance, smart homes, smart buildings, 3D printers, and smart transportation.
The advent of IoT and the Industrial IoT (IIoT) has opened the door for other current technologies, including embedded systems technology, to thrive under these advancements. The world of intelligent and interconnected IoT ecosystems is spreading quickly, and embedded systems have emerged as a catalyst.
And because of its wide range of functional diversity and adaptability, embedded system technology has taken a central role in many sectors of the economy. This technology's recent development in performing its functions more quickly, compactly, and affordably can also be credited with its appeal.
The high demand for electric and hybrid vehicles is anticipated to deliver various significant growth prospects for the market players operating in the microcontroller market in the future. Some other major drivers for the regional market growth of MCUs are increasing demand for flexibility and agility in the industrial ecosystem. The increasing integration of the internet of things (IoT) is also a factor that is driving the employment of IoT microcontrollers.
Moreover, it would also encourage regional market players to develop their products while also increasing the quantity of production. Further, the robust consumer electronic industry of the UAE would play a major role in the surging demand for IoT microcontrollers in the country. The rising demand for luxury features in vehicles across the country would increase the deployment of IoT microcontrollers across the automotive sector of the country in order to address regional demand. Hence, the growth of the regional market is estimated to augment throughout the coming years.
The Brazil market dominated the LAMEA Embedded Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,191.6 million by 2028.The Argentina market is expected to witness a CAGR of 9.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 8.4% during (2022 - 2028).
Based on Application, the market is segmented into Consumer Electronics, Automotive, Industrial, Aerospace & Defense and Others. Based on Component, the market is segmented into Hardware and Software. Based on Hardware Type, the market is segmented into MPU, MCU, FPGA, Memory and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Embedded Systems Market is Predict to reach $126.7 Billion by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Renesas Electronics Corporation, Texas Instruments, Inc., NXP Semiconductors N.V., QUALCOMM Incorporated (Qualcomm Technologies, Inc.), Fujitsu Limited, Infineon Technologies AG, Analog Devices, Inc., Microchip Technology, Inc., and STMicroelectronics N.V.
By Application
By Component
By Country
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