Asia Pacific Embedded Systems Market Revenue to cross US$ 64,536.15 million by 2030

At 6.2% CAGR, Asia Pacific Embedded Systems Market is Speculated to be Worth US$ 64,536.15 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific embedded systems market was valued at US$ 39,773.40 million in 2022 and is expected to reach US$ 64,536.15 million by 2030, registering a CAGR of 6.2% from 2022 to 2030. Advancement in internet of things (IoT) and rise in demand in automotive industry are among the critical factors attributed to the Asia Pacific embedded systems market expansion.

Technological giants worldwide are highly focused on research and development of new technologies. IoT is positioned at the core of the next-gen software technologies in the embedded system market. Embedded systems have a wide range of applications in the IoT sector. They are used to collect data, control and monitor devices, and communicate with users. An embedded system is capable of monitoring a room's temperature and adjusting the thermostat. It can also check a car's performance and alert the driver prior to any damage occurring. Embedded systems are a vital component of the IoT ecosystem and provide dependable, energy-efficient, and cost-effective benefits to businesses and individuals. Furthermore, IoT-based embedded systems are simple to upgrade and update offer a high level of security and are tamper-proof services to the users, which allows users to access the most recent features and functionality regularly.

IoT-based embedded systems can collect data from physical devices to help the user make intelligent decisions and communicate the results to the physical devices. The significant benefits offered by embedded systems are making them the future of connected devices and services. The extensive adoption of IoT is fueling the market growth. For instance, according to the Cisco Visual Networking Index, in 2022, there were more than 28 billion network devices enabled with embedded systems and powered by IoT. The network devices help users to improve connectivity and security and reduce additional operational costs of the business. The integration of embedded systems with IoT devices and platforms is enabling new applications and services in areas such as smart homes, smart cities, and industrial IoT. Also, the expansion of smart cities and smart home projects increases the demand for IoT-based embedded systems among consumers.

On the contrary, global shortage of semiconductor chips hampers the growth of Asia Pacific embedded systems market.

Based on component, the Asia Pacific embedded systems market is bifurcated into hardware and software. The hardware segment held 71.3% share of the Asia Pacific embedded systems market in 2022, amassing US$ 28.37 billion. It is projected to garner US$ 46.91 billion by 2030 to expand at 6.5% CAGR during 2022-2030. The hardware segment is further subsegmented into sensor, microcontroller, processors and ASICS, memory, and others.

In terms of functionality, the Asia Pacific embedded systems market is segmented into real-time embedded systems, standalone embedded systems, networked embedded systems, and mobile embedded systems. The mobile embedded systems segment held 38.9% share of the Asia Pacific embedded systems market in 2022, amassing US$ 15.45 billion. It is projected to garner US$ 26.44 billion by 2030 to expand at 6.9% CAGR during 2022-2030.

By applications, the Asia Pacific embedded systems market is segmented into automotive, telecommunication, healthcare, industrial, consumer electronics, and others. The consumer electronics segment held 32.7% share of Asia Pacific embedded systems market in 2022, amassing US$ 13.02 billion. It is projected to garner US$ 22.17 billion by 2030 to expand at 6.9% CAGR during 2022-2030.

Based on country, the Asia Pacific embedded systems market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. China held 26.0% share of Asia Pacific embedded systems market in 2022, amassing US$ 10.34 billion. It is projected to garner US$ 18.61 billion by 2030 to expand at 7.6% CAGR during 2022-2030.

Key players operating in the Asia Pacific embedded systems market are Advantech Co Ltd, Infineon Technologies AG, Intel Corp, Marvell Technology Inc, Microchip Technology Inc, NXP Semiconductors NV, Qualcomm Inc, Renesas Electronics Corp, STMicroelectronics NV, and Texas Instruments Inc, among others.