The embedded software market is expected to witness substantial growth by 2027 driven by mounting product demand across wide-ranging applications. Additionally, soaring requirement for medical equipment during the COVID-19 pandemic is anticipated to fuel market growth over the forecast period.
Recently, industry players have been expanding their offerings to improve their consumer reach, which has positively impacted the global product landscape. For instance, in June 2021, Segger Microcontroller, the German software firm, introduced an all-in-one embedded software stack to address the chip shortage.
The embedded software dubbed emPower OS has been built around Segger's embOS real time operating system and merges all other core components, such as GUI, File System, and communication software including modules for USB Device, TCP/IP, Modbus, and USB-Host, along with an IoT Toolkit.
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Furthermore, companies have been focusing on product development to address emerging consumer demands, which has bolstered product sales, thereby propelling business expansion across the globe. To cite an instance, in June 2021, iSystem, an embedded software provider, presented a rack-based version of its BlueBox hardware to enable remote debugging as well as continuous integration (CI) of embedded software. The iC5000/iC5700 CI was designed to equip CI infrastructures with hardware debugging and can be combined with the company's testIDEA and winIDEA tools to allow the automation capabilities and interfaces to serve as a target test framework.
The embedded software market has been categorized on the basis of operating system, application, function, and region. In terms of function, the market has been segmented into standalone system, network system, real-time system, and mobile system.
In 2020, the network system sub-segment accounted for over 15% of the embedded software market and is estimated to grow at a rapid pace over the analysis period. Increasing demand for network systems in home security & automation systems is set to facilitate segmental expansion. In addition, these systems allow the user to control and automate household appliances remotely over the network through TCP/IP protocol, which is likely to augment segmental growth in the coming years.
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From the application perspective, the market has been divided into automotive, manufacturing, consumer electronics, healthcare, IT & telecom, military & defense, and others. In 2020, the healthcare sub-segment held over 5% share in the embedded software market and is projected to see robust growth over 2021-2027.
Surging demand for portable medical devices with embedded software is expected to be a key factor driving segmental adoption in the future. Moreover, the COVID-19 pandemic has led several governments to offer funding and incentives to medical device manufacturers, which is slated to positively impact segmental outlook over the forthcoming years.
On the regional spectrum, Latin America accounted for around 2% of the embedded software market in terms of revenue in 2020 and is calculated to register a sizable CAGR over the analysis period. Government initiatives to promote electric vehicles manufacturing in the region are speculated to foster regional market outlook through the forecast timeframe.
Table Of Content
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.3 Data Sources
Chapter 2 Executive Summary
2.1 Embedded software industry 3600 synopsis, 2016 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Operating system trends
2.1.4 Function trends
2.1.5 Application trends
Chapter 3 Embedded Software Industry Insights
3.1 Industry segmentation
3.2 Impact analysis of corona virus (COVID-19) pandemic on embedded software market
3.2.1 Global outlook
3.2.2 Impact by region
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
3.2.3 Industry value chain
184.108.40.206 Research and development
3.2.4 Competitive landscape
220.127.116.11 Distribution network
18.104.22.168 Business growth
3.3 Industry ecosystem analysis
3.3.2 Distribution channel analysis
3.3.3 End users
3.3.4 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Virtual and augmented reality
3.4.2 Artificial Intelligence and machine learning
3.4.3 Internet of Things (IoT)
3.5 Regulatory landscape
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.6 Industry impact forces
3.6.1 Growth drivers
22.214.171.124 Growing adoption of AI and machine learning in embedded software
126.96.36.199 Increasing demand for embedded OS in the automotive sector
188.8.131.52 Growing trend towards industrial automation and IIoT in developing nations
184.108.40.206 Surge in demand for embedded software in consumer electronics
220.127.116.11 Increasing deployment of embedded software in smartphones
3.6.2 Industry pitfalls and challenges
18.104.22.168 Lack of skilled professionals
22.214.171.124 Safety & security issues of embedded OS
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Industry rivalry
3.8.2 Threat of new entrants
3.8.3 Buyer power
3.8.4 Supplier power
3.8.5 Threat of substitutes
3.9 PESTEL analysis