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Embedded Controllers market Growth
Embedded Controllers Market Expected to Reach $10.95 Billion by 2030-Allied Market Research
The surge in the adoption of ruggedized computers for various industrial purposes, and increasing investments for the development of smart cities, etc. boost the Embedded Controllers Market growth.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, November 25, 2024 /EINPresswire / -- Allied Market Research, titled,“Global Embedded Controllers Market By Product Type, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global embedded controller market was valued at $4.65 billion in 2020, and is projected to reach $10.95 billion by 2030, registering a CAGR of 9.4% from 2021 to 2030.
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An increase in preference for smart homes, increasing adoption of ite embedded controllers and embedded controller sensors, and a surge in adoption of wearable devices amongst consumers are the factors that drive the embedded controllers market. However, the high energy consumption of compact embedded systems hinders market growth. Moreover, the increasing embedded controllers market trends , rise in development of 5G based embedded devices, and increase in adoption of electric vehicles with model train controllers in embedded systems are expected to be opportunistic for market growth.
By product Type, it is fragmented into 8 Bits, 16 Bits, 32 Bits, and others. The 8 Bits segment was the highest revenue contributor accounting for $1,717.8 million in 2020. However, the 32-bit segment is expected to witness the fastest growth at a CAGR of 10.3% during the forecast period.
By type, the market is divided into simple programmable logic devices and complex programmable logic devices. The simple programmable logic devices were the highest revenue contributor segment accounting for $2,672.7 million in 2020. However, the complex programmable logic devices segment is expected to witness the fastest growth at a CAGR of 10.3% during the forecast period.
By application, the market is divided into IT & telecommunication, automotive, consumer electronics, healthcare, industrial, and other. The healthcare sector is the fastest-growing application segment registering a CAGR of 12.5%, during the forecast period. However, the consumer electronics segment is the highest revenue contributor accounting for $1,270.0 million in 2020.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor and was valued at $1.634.2 million in 2020. This region is further expected to attain a market value of $3,267.3 million by 2030, to grow at a CAGR of 7.7%. Moreover, Asia-Pacific is expected to register the highest CAGR during the forecast period.
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COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.
Demand from the IT & telecommunication segment is expected to increase, owing to factors such as a rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.
Some of the embedded controller manufacturers have witnessed temporary delays in production, increased costs, and revenue losses due to the pandemic.
The manufacturing sector witnessed severe loss, and thus no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and embedded controllers markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the embedded controllers market growth is facing major obstacles from the emergence of the COVID-19 pandemic.
The overall impact of the pandemic is impacting the production process of several industries, including semiconductors and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced a total lockdown and temporary shutdown of industries.
Key Findings Of The Study
- The 8 Bits segment registered the highest revenue during the forecast period.
- The simple programmable logic devices segment registered the highest revenue during the forecast period.
- The consumer electronics segment registered the highest revenue during the forecast period.
- The North America segment registered the highest revenue during the forecast period.
The key players profiled in the report include ADLINK Technology Inc., Advantech Co. Ltd, Cisco Systems, Inc., CNH Industrial N.V. (Potenza Technology Ltd.), Divelbiss Corporation, ICP America, Inc., Intel Corporation, Microchip Technology Inc., National Instruments Corporation (NI), and NXP Semiconductors N.V. These key players have adopted several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion, to increase their footprint in the embedded controllers industry during the forecast period
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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Allied Market Research
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