by Embedded computing involves the use of a computer circuit system within larger mechanical or electrical systems, to perform dedicated controlling and monitoring functions. Embedded computing components provide advanced computing power for industrial devices and machines by enabling greater connectivity, mobility, and responsiveness to real-time data. Embedded computing systems offer various benefits like lower power consumption, reduced size, reliability, and durability. The increasing adoption of IoT and industrial automation across various industries is driving the need for embedded computing systems to remotely monitor industrial assets and enable predictive maintenance through continuous data collection and analysis.
The global embedded computing market is estimated to be valued at US$ 112.45 Bn in 2024 and is expected to reach US$ 174.38 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Key Takeaways
Key players operating in the Embedded Computing are Advanced Micro Devices (AMD), Inc., Advantech Co., Ltd., Avalue Technology Inc., Curtiss-Wright Corporation, Dell Technologies Inc., Emerson Electric Co., Fujitsu Limited, General Electric Company, Hewlett Packard Enterprise Company, Honeywell International Inc., Intel Corporation, Kontron ST AG, Mitsubishi Electric Corporation, Rockwell Automation, Inc., and Texas Instruments Incorporated. The increasing adoption of IoT across different industry verticals creates opportunities for embedded computing systems providers to offer customized solutions for specialized industrial automation needs. Major embedded computing companies are expanding their global footprint by enhancing their sales and distribution network across emerging economies in Asia Pacific and Middle East & Africa.
Key opportunities in the Embedded Computing Market Size development of application-specific embedded systems for analytics, computer vision and AI workloads in industrial equipment. Growing adoption of AI and machine learning in factory automation is necessitating high-performance embedded computing platforms for handling real-time processing of sensor data at the edge. Emergence of 5G network infrastructure is also enabling greater connectivity of embedded devices, driving the need for rugged and miniaturized computing solutions.
Market drivers
The increasing requirement of computer-controlled systems and real-time data analytics across manufacturing industries is a key driver for the embedded computing market. Embedded computing helps digitally transform industrial operations by enabling predictive maintenance, remote asset monitoring, and process optimization through artificial intelligence and machine learning algorithms. Rising demand for industrial cyber-physical systems and industrial IoT for advanced manufacturing is also propelling the adoption of Embedded Computing Companies modules and edge gateways at the plant level. Additionally, the need for flexible and application-specific embedded solutions for monitoring critical infrastructure helps drive sustained demand.
PEST Analysis
Political: Government regulations around data privacy and security are becoming more stringent over time. These affect how information can be collected and used across embedded systems.
Economic: With rising inflation and potential economic slowdowns, companies are looking to invest in efficient and cost-effective embedded computing solutions to optimize their operations.
Social: Consumer demand for always-on connectivity and heightened expectations around convenience are driving a need for more powerful embedded systems across various smart devices and applications.
Technological: Advancements in areas like AI, edge computing, and 5G are expanding the capabilities of embedded systems. These enable new functionalities and use cases involving real-time data collection and analytics. Stronger processors and more memory are also allowing for more complex workloads to be handled locally.
Geographical Regions of Concentration
North America currently accounts for the largest share of the global embedded computing market in terms of value. This can be attributed to high technology adoption across sectors like automotive, industrial automation, and healthcare. Significant research and development activities in the region also contribute to its leading position.
Fastest Growing Region
Asia Pacific is poised to be the fastest growing regional market for embedded computing during the forecast period. This growth can be credited to rising electronics manufacturing capabilities as well as increasing usage of embedded systems across applications like smart cities, renewable energy, and infrastructure management in developing economies like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
