Embedded Software Industry Scope With Opportunities By 2031

(MENAFN- Straits Research) Embedded software is computer programs or code embedded in physical devices or systems to manage performance, perform specified tasks, and enable desired features. Unlike ordinary software that runs on general-purpose computers, embedded software is specifically suited to the needs and limitations of the hardware on which it operates. It is vital to be able to operate a variety of technological devices and equipment. The embedded software industry is expected to grow at a 7.6% CAGR. Because of the growing popularity of Internet of Things (IoT) devices, advancements in vehicle electronics, and increased need for smart manufacturing solutions. These factors influence the integration of embedded software into various devices and systems across different industries.
Market Dynamics
Rise of the Internet of Things (IoT) Stimulates the Market Growth
The IoT is a network of Internet-connected devices that share data. These devices, from wearables to industrial sensors, use embedded software to function and communicate. Internet of Things applications across industries have driven the embedded software business; in smart homes with various gadgets networked and managed by a hub or smartphone app, embedded software market trends. In this scenario, smart thermostats, lighting, security cameras, and voice assistants are IoT devices. Each gadget needs embedded software to communicate, collect data, and perform tasks. IoT Analytics expects the global IoT market to grow from $250 billion in 2019 to $1.5 trillion in 2030. This growth is due to enterprises using more IoT devices.
AI and Machine Learning Integration Creates Tremendous Opportunities
AI and ML in embedded software can greatly improve device operation, decision-making, and user experiences. This applies to consumer electronics, industrial automation, and other fields. AI is integrated into embedded software for self-driving automobiles like Tesla's Autopilot. AI-powered algorithms process sensor data, make driving decisions and improve the system. Wearable health trackers with AI can evaluate biometric data and provide personalized health insights. This supports healthy lifestyles and early disease diagnosis. AI-powered voice assistants in smart speakers and TVs use integrated software to grasp natural language, understand human requests, and respond appropriately. AI-powered embedded technologies improve irrigation, fertilization, and harvesting by monitoring soil, weather, and crop health.
Regional Insights
North America led the market in 2022 and is expected to do so beyond the projected period. Rising automotive industry technology and national safety requirements are expected to support regional growth during the projected period. Regional automakers' ADAS and autonomous driving R&D efforts also fuel market growth. These technologies require fast, secure software to assess sensor and camera data and make safe vehicle management decisions. Arm partnered with AWS, Continental, and CARIAD car dealers in September 2021 to expand its embedded software architecture. The companies created the Scalable Open Architecture for Embedded Edge (SOAFEE) to help car developers integrate ADAS, in-vehicle entertainment, and electric powertrains. The US federal government is investing more in armed drones to improve its military and defense capabilities, increasing regional market dominance. The US Congress gave the DoD USD 7.5 billion in May 2021. This money will explore and build uncrewed aerial vehicles, combat drones, and unmanned surveillance systems.
Asia-Pacific dominated the worldwide embedded software market in 2022. Expanding semiconductor fabrication facilities. Toshiba Electronic Devices and Storage in February 2022 Corporation established a 300-millimeter power semiconductor wafer production plant at Kaga Toshiba Electronics Corporation in Japan. Such operations will boost consumer electronics manufacturing, notably smartphones, improving the industry's outlook. The Asia Pacific embedded software market may also benefit from the developing network of consumer electronics manufacturers in Taiwan, China, and Japan. Asia-Pacific has a large vehicle market. China, Japan, South Korea, and India contribute heavily to auto production and consumption. China is the world's largest automotive market, generating around 25 million vehicles by 2020, according to OICA. In APAC, connected automobile utilization is rising. Navigation, entertainment, telematics, and over-the-air upgrades require embedded software. Industry 4.0 and smart manufacturing enhance embedded software needs.
Key Highlights

The global Embedded Software market size was valued at
USD 14.3 billion in 2023
and is projected to reach
USD 25.6 billion by 2031, registering a
CAGR of 7.6%
from 2023 to 2031.
The tools are divided into RTOS, Assemblers, Debuggers, and Compilers. Debugger commands the majority of the market.
The market is divided into C, C++, JAVA, ASSEMBLY, MATLAB, and NET programming languages. C is the most important programming language.
The market is divided into end-user segments: Computing Devices, Consumer Electronics, Telecommunication, Industrial Automation, Automotive, Manufacturing, Telecommunications, and Others. Consumer electronics drove market expansion.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

Competitive Landscape
The key players in the global Embedded Software market are Advantech Co. Ltd., BlackBerry Ltd., Emerson Electric Co., Enea AB, Green Hills Software LLC, International Business Machines Corp., Lantronix Inc., Microchip Technology Inc., Microsoft Corp., Mitsubishi Electric Corp., National Instruments Corp., NEC Corp., NXP Semiconductors NV, Reliance Industries Ltd., Siemens AG, STMicroelectronics NV, Texas Instruments Inc., Toshiba Corp., VIA TECHNOLOGIES Inc., and Intel Corp.
Market News

August 2023- Advantech Introduced SQRAM DDR5 5600 Memory with an Unprecedented Speed and Capacity of 48GB.
August 2023- Cybersecurity with AI BlackBerry pioneers a significant update to its next-generation AI engine.
August 2023- IBM announced Watsonx Generative AI Capabilities to Speed Up Mainframe Application Modernization.

Global Embedded Software Market: Segmentation
By Tools

Real-Time Operating System (RTOS)
Assemblers
Debugger
Compilers

By Programming Language

C
C++
Java
Assembly
MATLAB
Net

By End-User

Computing Devices
Consumer Electronics
Telecommunication
Industrial Automation
Automotive
Manufacturing
Telecommunications
Others

By Region

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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