Embedded systems refer to, application-specific combination of electronic hardware and software for meeting the specific demand(s) of the system in which they are embedded. Surge in the demand for smart electricity meters in mainly the developing countries of Asia Pacific and South America had driven the embedded system market in the recent years.
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The rising demand for smart meters is also expected to continue over the coming years, attributed to the government initiatives towards energy efficiency and electrification in the rural areas of developing countries, such as India and China. Moreover, some of the further factors, such as technological advancement coupled with falling prices of inputs materials, like microcontroller and microprocessor units have also created a positive impact on the growth of the embedded system market in the recent years.
Embedded hardware has been the largest segment of the global embedded system market in 2014. The embedded hardware is also expected to be the fastest growing market during the forecast period. Some of the major components under embedded hardware are microcontroller, microprocessors, analog to digital signal processer, digital to analog signal processer, high pass filter, low pass filter, sensors, and printed circuit.
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North America dominated the embedded system market in 2014. North America is also expected to continue with its market dominance in the embedded system market over the next five years. The Asia Pacific market is expected to be the fastest growing market over the forecast period. The high growth of the Asia Pacific market is attributed to emergence of automotive industry in the developing countries, such as India and China.