Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Embedded Systems Market size is expected to reach $126.7 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
The Automotive segment is showcasing a CAGR of 5.4% during (2022 - 2028). Engine management, infotainment, and safety are just a few applications for embedded systems in the automotive industry. This industry is anticipated to grow as consumers desire more cars with reliable navigation and car-to-road communication features. Furthermore, it is predicted that rising embedded system demand will be a result of EV and HEV adoption rates for assuring emission control.
The Hardware segment acquired maximum revenue share in the Global Embedded Systems Market by Component in 2021 thereby, achieving a market value of $80.1 billion by 2028. Any embedded target's electronic hardware, which is housed on a printed circuit board, is its essential component. Five components make up the embedded development board. Input, output, input, memory, and bus controllers are among them. Any embedded device's core resource is its hardware abstraction layer (HAL), and the designer's requirements and specifications determine which component to use.
The Asia Pacific market dominated the Global Embedded Systems Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $47.3 billion by 2028.The Europe market is exhibiting a CAGR of 5.2% during (2022 - 2028). Additionally, The North America market would display a CAGR of 5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/embedded-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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