Europe Embedded Systems Market Revenue to cross US$ 35,062.28 million by 2030

At 4.5% CAGR, Europe Embedded Systems Market is Speculated to be Worth US$ 35,062.28 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Europe embedded systems market was valued at US$ 24,658.88 million in 2022 and is expected to reach US$ 35,062.28 million by 2030, registering a CAGR of 4.5% from 2022 to 2030. Integration of 5G and rise in demand in automotive industry are among the critical factors attributed to the Europe embedded systems market expansion.

5G is expected to empower new business models and use cases in a wide range of embedded applications, especially in the telecommunication industry. The industry is engaged in deploying large amounts of networking infrastructure, such as virtual radio access networks (vRAN). The integration of 5G networks has a transformative impact on the embedded systems market as 5G provides higher data rates, massive device connectivity, and lower latency compared to previous generations of technology. It can open up possibilities for real-time applications, large-scale IoT deployments, autonomous systems, and ultra-high-definition video streaming. Growing investment and increasing adoption of 5G in various industries such as automotive, healthcare, consumer electronics, banks, and data centers are expected to create growth opportunities in the market. For instance, telecom operators across the globe are planning to invest US$ 380 billion in the deployment of 5G by 2025 to focus on new services for consumers and enterprises. 5G allows remote monitoring and controlling of embedded systems by facilitating tasks like remote diagnostics and maintenance. Moreover, the technology is used to create a new system-on-a-chip (SoC) platform that helps the user deal with plane traffic, payload control, user scheduling, and front-end processing. Increasing the power of SOC platforms deepens the combination of 5G and embedded systems. The integration of 5G and SOC will develop a 5G chip used in embedded processors. The 5G chip supports the user in automatically limiting the capacity of the wireless communication system and sending reasonable amounts of data through the system. These chips are widely adopted by industries such as consumer electronics, healthcare, IT & telecommunications, energy & utilities, and manufacturing.

5G offers low latency in crucial applications such as autonomous vehicles and real-time industrial automation. An embedded system can process and respond to data with minimal delay by enhancing its effectiveness. 5G-engineered embedded devices used in smart camera surveillance systems deliver fast response rates, which is anticipated to create opportunities in the market during the forecast period.

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

Based on component, the Europe embedded systems market is bifurcated into hardware and software. The hardware segment held 77.7% share of the Europe embedded systems market in 2022, amassing US$ 19.17 billion. It is projected to garner US$ 27.61 billion by 2030 to expand at 4.7% CAGR during 2022-2030. The hardware segment is further subsegmented into sensor, microcontroller, processors and ASICS, memory, and others.

In terms of functionality, the Europe 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 37.3% share of the Europe embedded systems market in 2022, amassing US$ 9.20 billion. It is projected to garner US$ 13.75 billion by 2030 to expand at 5.1% CAGR during 2022-2030.

By applications, the Europe embedded systems market is segmented into automotive, telecommunication, healthcare, industrial, consumer electronics, and others. The consumer electronics segment held 26.3% share of Europe embedded systems market in 2022, amassing US$ 6.48 billion. It is projected to garner US$ 9.86 billion by 2030 to expand at 5.4% CAGR during 2022-2030.

Based on country, the Europe embedded systems market is categorized into Germany, Italy, the UK, Russia, France, and the Rest of Europe. Germany held 27.6% share of Europe embedded systems market in 2022, amassing US$ 6.81 billion. It is projected to garner US$ 10.52 billion by 2030 to expand at 5.6% CAGR during 2022-2030.

Key players operating in the Europe 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.