The North America Embedded Systems Market would witness market growth of 5.0% CAGR during the forecast period (2022-2028).
The rising need for gadgets like smart power meters is a major driver of the embedded systems market. In addition, other important reasons driving the market's expansion include the rising demand for smartphones, desktops, laptops, communications systems, and other products around the world.
During the projected period, technological developments and falling microcontroller unit prices are anticipated to have a beneficial impact on the market. Numerous end-use industries employ embedded systems. As a result, it is projected that rising demand from industry sectors like healthcare, automotive, aerospace, and consumer electronics will propel market expansion throughout the course of the projection year.
Additionally, it is projected that over the course of the forecast period, ongoing research and development to bring about smarter and more energy-efficient electronic gadgets will have a beneficial effect on the expansion of the global embedded systems market. Additionally, a rise in ADAS demand for EV and hybrid vehicles is promoting market expansion.
The ultra-low power microcontroller in North America is expected to develop at a stable rate in the coming years. The ever-increasing trend of sensing and measuring automation in the civilian, as well as several other industrial sectors, can be credited to the rise of the ultra-low power microcontroller market across the region. In addition, according to the American Automakers, in 2018, the United States exported $142 billion in automobiles and parts, with motor vehicles accounting for $53.2 billion and auto parts accounting for $88.5 billion, more than any other economic sector in the country.
The US market dominated the North America Embedded Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $27,521.6 million by 2028.The Canada market is poised to grow at a CAGR of 7.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.5% 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 U.S., Mexico, Canada, and Rest of North America.
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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