Embedded Software Market Demand is Growing Due to Rising Need for Open Source RTOS Software

Embedded Software Market Analysis 

The global embedded software market will grow at a 9% CAGR by 2022, states the latest Market Research Future report.

Drivers

Increasing Initiatives to Support Development of EVs and Autonomous Vehicles to Boost Market Growth

Strong demand for autonomous vehicles, together with various attempts to promote the usage of electric vehicles, will have a beneficial impact on the industry growth in the next years. The increase in connected cars has prompted automakers to improve their embedded software design skills, as it allows them to give connectivity at every touchpoint, allowing them to expand their product offers.

Opportunities

Growing Need for Open Source RTOS Software to offer Robust Opportunities

The growing need for open-source RTOS software and open-source Linux software will offer robust opportunities for the market over the forecast period.

Restraints

Increased Safety and Security Concerns to act as Market Restraint

The increased safety and security concerns may act as a market restraint over the forecast period.

Challenges

Real-time Constraints to act as Market Challenge

The real-time constraints and design constraints regarding real-time embedded system may act as market challenges over the forecast period.

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Market Segmentation

The global embedded software market is bifurcated based on application and programming language.

By programming language, C will lead the market over the forecast period.

By application, consumer electronics will dominate the market over the forecast period.

COVID-19 Analysis

In the first quarter of 2020, the COVID-19 epidemic hampered the expansion of the embedded software market. Several regulatory agencies and governments around the world enacted strict lockdowns in early 2020, resulting in the suspension of various industries including industrial, consumer electronics, and automotive, among others. In the early 2020s the fall in automotive and consumer electronics output had a significant impact on the market revenue. During the epidemic, however, the demand for improved point-of-care medical gadgets skyrocketed. In addition, rising government attempts to assist medical device producers in expanding output during pandemics are propelling market data.

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Regional Analysis

North America to Command Embedded Software Market

North America will command the embedded software market over the forecast period. The region’s market share is increasing as the US federal government increases its spending on the development of armed drones to enhance its military and defence forces. The United States Congress allocated USD 7.5 billion to Department of Defense in May 2021. (DoD). This money will be used for unmanned aerial vehicles, combat drones, & unmanned surveillance systems research and development. Increasing the federal government’s defence budget investments will provide more prospects for market expansion. In the United States, the growing demand for IoT and linked devices to provide smart & connected devices while reducing human intervention is aiding market growth.

Key Players

Eminent industry players profiled in the global embedded software market report include ST Microelectronics(Switzerland), IBM Corporation (U.S.), Emerson Network Power (U.S.), Microchip Technology Inc. (U.S.), Intel Corporation (U.S.), Mitsubishi Electric Corporation(Japan), Advantech Industrial Computing India Pvt. Ltd (Taiwan), Green Hills Software (U.S.), Microsoft Corporation(U.S.), Enea Software AB (Sweden), and others.

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Embedded software Market, by programming languages (C, C++, Assembly Language, Java, .Net), By Application (Consumer Electronics, Healthcare, Automotive, Radio & Satellite Devices) – Forecast 2027

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