by The embedded computing market is in trends by increasing adoption of IoT solutions and edge computing. Embedded computers are miniaturized devices that perform dedicated controlling and monitoring functions in various machinery and electronic devices. They have advantages like reduced size, lower power consumption, and reliable performance for real-time applications. Embedded computing systems are used across industries for machine control, remote monitoring, industrial automation, and more.
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 market 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. Key players are focusing on developing innovative processor technologies for embedded systems to handle growing data processing needs.
The growing adoption of industrial automation and transition towards Industry 4.0 is driving Embedded Computing Market Demand systems in various industries. Embedded computers monitor and control assembly lines, factory equipment, machines, and other industrial devices in real-time. They help improve productivity, reduce downtime, and ensure higher operational efficiency in manufacturing facilities.
The embedded computing market is expanding globally with increasing applications across industry verticals.regions like Asia Pacific and Middle East & Africa are witnessing strong growth in embedded systems adoption due to rising industrial and infrastructure development activities. Several players are strengthening their presence in developing markets through partnerships and by providing customized solutions as per regional requirements.
Market key trends
Edge and fog computing are gaining prominence to support IoT applications with low latency and location-specific data processing needs. Embedded Computing Companies capabilities closer to IoT devices at the edge helps deliver results in real-time for mission-critical IoT use cases like predictive maintenance, remote monitoring, autonomous vehicles, and more. This trend is driving new product development focusing on edge and fog computing platforms.
Porter’s Analysis
Threat of new entrants: The embedded computing market requires large investments in R&D to develop new technologies and compete with established players. This poses as a barrier for new companies.
Bargaining power of buyers: Buyers have moderate bargaining power in the embedded computing market due to the presence of many manufacturers. However, switching costs are high for buyers if they need to replace existing systems.
Bargaining power of suppliers: Component suppliers have low to moderate bargaining power in the market. This is because there are many supplier options for companies to choose from.
Threat of new substitutes: There is a low threat of substitution in the embedded computing market as embedded systems are specialized for specific applications. Developing new substitutes requires significant investments.
Competitive rivalry: The embedded computing market is highly competitive due to the presence of many global manufacturers. Companies compete based on technology, product pricing, features, and services.
Geographical Regions
In terms of value, North America dominates the embedded computing market currently, accounting for more than 35% share. This is attributed to heavy investments in defense, aerospace, industrial automation, and medical sectors within the region.
The Asia Pacific region is expected to be the fastest growing market during the forecast period from 2024 to 2031. This growth can be attributed to emerging economies like China and India rapidly adopting embedded systems across various industries. Countries in the region are witnessing expansions in manufacturing, automotive production, and infrastructure development which drives the demand for embedded computing.
*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, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
