Embedded Computing Market Sets New Record, Projected at US$ 85,685.68 Million By 2030 at 9.1% CAGR

Embedded Computing Market

WILMINGTON, DE, UNITED STATES, August 2, 2024 /EINPresswire.com/ -- The global embedded computing market size was valued at $36,743.56 Million in 2020, and is projected to reach $85,685.68 Million by 2030, growing at a CAGR of 9.1% from 2021 to 2030.

The embedded computing market trends in Asia-Pacific is expected to witness highest growth in the upcoming years. This is attributed to emerging technologies, falling prices of consumer electronics, industrialization, and government initiatives foster the growth of the market for Asia-Pacific. In addition, emerging markets offer low labor costs and a huge potential customer base, which attract global manufacturers. Furthermore, the IT and telecommunication industries in India are blooming, whereas the electronics market in China is expected to grow at a significant rate, which drives the growth of market in this region.

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The global embedded computing industry is in its growing phase, having significant adoption in almost all of the regions. Technological advancements, falling prices of consumer electronics, and emerging economies have boosted the prospects in the embedded computing market. In the prevailing business scenario, the demand for innovative and quality embedded system is witnessing significant growth among the various end-user verticals.

Adoption of technology and increase in standards of living in emerging markets have shown increase in use of embedded computing systems. Conversely, intense competition among regional market players and complex hardware configuration hinder the market growth.

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As per embedded computing market forecast The COVID-19 outbreak has a positive impact on the growth of the embedded computing market due rapidly changing lifestyle and increase in adoption of advanced technologies. However, the outbreak of COVID-19 affected communities across the globe. Governments and other sector are trying their best to respond faster to the challenges posed by this pandemic. Furthermore, governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic. However, the situation has accelerated the adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), automation, and Internet of Things (IoT) to control costs while improving the customer experience, which would provide the lucrative opportunities for embedded computing market. Hence, increase in awareness among people regarding benefits of latest technology and increase in disposable income accelerate the adoption of consumer electronics across the globe. This, in turn, is attributed to drive the embedded computing market worldwide. Moreover, the demand for artificial intelligence is growing in areas of science, defense, research, robotics, and education. This is encouraging key players to introduce industry-specific embedded computing solutions and components to cater the increasing consumer demand in efficient and effective manner. Thus, it is driving the market growth across globe.

This report gives an in-depth profile of some key market players in the embedded computing market which includes Arm Holdings Plc., Fujitsu Limited, Intel Corporation, IBM Corporation, Microchip Technology, Inc., Microsoft Corporation, Qualcomm Incorporated, Renesas Electronics Corporation, STMicroelectronics, and Texas Instruments Incorporated. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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