Embedded Software Market size is set to grow by USD 8.92 billion from 2024-2028, High adoption of embedded software in semiconductor industry boost the market, Technavio

NEW YORK, Aug. 13, 2024 /PRNewswire/ -- The global embedded software market size is estimated to grow by USD 8.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.45%  during the forecast period. High adoption of embedded software in semiconductor industry is driving market growth, with a trend towards emergence of embedded software in in-vehicle infotainment. However, data security and privacy issues  poses a challenge. Key market players include Advantech Co. Ltd., BlackBerry Ltd., Emerson Electric Co., Enea AB, Green Hills Software LLC, Intel Corp., 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 International N.V., Texas Instruments Inc., Toshiba Corp., and VIA TECHNOLOGIES Inc..

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Market Driver

Infotainment systems, which blend information and entertainment, have gained popularity due to technological advancements and the increasing demand for personalized in-vehicle experiences. These systems integrate software and hardware devices, such as navigation systems, Internet and Wi-Fi connectivity, audio and video systems, display screens, social networking applications, and telematics systems, using embedded software. Telematics, a navigation system, and smartphone integration have become standard features in these systems. The automotive industry's growth significantly contributes to the market's expansion, with safety being a primary concern for buyers. Embedded software offers essential safety features to prevent accidents. To meet evolving consumer preferences, Original Equipment Manufacturers (OEMs) collaborate with smartphone and tablet manufacturers to provide in-vehicle products and services. For instance, Pioneer offers CarPlay through its aftermarket in-dash infotainment solutions, while Hyundai's Blue Link infotainment systems mirror a smartphone on a vehicle display screen. General Motors' MyLink and IntelliLink infotainment systems support third-party applications. The increasing demand for hybrid vehicles worldwide is driving smartphone manufacturers to develop applications that enable users to connect their smartphones to the vehicle for real-time battery status updates. BMW's i Remote application allows BMW i3 users to check their vehicle's battery capacity while charging. These advancements and applications necessitate the use of embedded software, leading to market growth during the forecast period. 

The Embedded Software Market is experiencing significant growth due to the increasing adoption of advanced technology in various industries. Smart cities, AI, and blockchain technologies are driving innovation in this space. Companies like STMicroelectronics are leading the way with solutions like STM32 ZeST for sensorless motor drives in power tools, appliances, e-bikes, electric vehicles, and hybrid vehicles. ADAS technology and 5G technology are revolutionizing the automotive industry, while industrial automation, smart farming, and embedded security software are transforming manufacturing and agriculture. Memory, energy consumption, and real-time embedded systems are key challenges, but solutions are emerging. Cyberattacks are a concern, but embedded security software is becoming more sophisticated. Programming languages like C, C++, and Java are popular, with Microsoft leading in some sectors. The market is evolving, with professional insights indicating continued growth in consumer electronics, media and entertainment, military and defense, IT and telecom, and device software. Embedded sensor-power systems and real-time data are key trends in hardware devices and embedded software systems. AI evolution is set to further disrupt the market. 

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Market Challenges

• Embedded software plays a significant role in digitizing enterprise data on a global scale. However, this trend raises concerns regarding privacy, security, liability, and intellectual property protection. The risks associated with embedded software are higher than those of application software due to its inability to be altered once implemented. Vendors handle sensitive client information and financial data, making data security a top priority. With increasing direct communication among systems, security requirements are escalating. Despite significant investments in security, cyberattacks continue to evolve, leading to data breaches and the need for frequent security updates. These challenges impact software companies' profitability and, in turn, the growth of the global embedded software market.
• The Embedded Software Market is a professional insights-driven sector, experiencing significant growth due to the evolving technology market. Key industries like Gas Engine, Consumer Electronics, Media and Entertainment, Military and Defense, IT and Telecom, and Automotive are major consumers of device software. Embedded sensor-power systems, real-time data processing, and hardware devices require embedded software systems for optimal performance. The AI evolution, 5G network expansion, and autonomous driving are driving the demand for advanced embedded software. Embedded systems developers face challenges like device lifecycle management, security updates, and attack replication. Remote deployment and real-time simulations are essential for efficient development and testing. Industries like Automotive are integrating advanced tech, such as autonomous driving and self-driving ADAS features, into their applications. Real-time operating systems like VxWorks and mobile system functions based on Android operating systems are popular choices. Chip developers and semiconductor manufacturing facilities are also investing in power semiconductors and AI technologies like Machine Learning and Automation for their embedded systems. Healthcare is another sector that benefits from embedded software, with applications ranging from telemedicine to medical equipment control. Overall, the Embedded Software Market is a dynamic and growing sector, presenting numerous opportunities for businesses and innovators.

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Segment Overview 

This embedded software market report extensively covers market segmentation by  

1. End-user 
• 1.1 RTOs
• 1.2 Compilers
• 1.3 Assemblers
• 1.4 Debuggers
• 1.5 Others
2. Application 
• 2.1 Automotive
• 2.2 Consumer electronics
• 2.3 Industrial
• 2.4 Aerospace
• 2.5 Others
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 RTOs-  The Embedded Software Market is experiencing significant growth due to the increasing demand for smart devices and IoT applications. Companies are investing in developing advanced embedded software solutions to enhance product functionality and efficiency. This market is driven by the automotive, healthcare, and industrial sectors, with a focus on improving performance, reliability, and security. Collaborations and acquisitions among key players are also contributing to the market's expansion.

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Learn and explore more about Technavio's in-depth research reports

The global outsourced software testing market is experiencing significant growth, driven by increasing demand for cost-effective, high-quality testing services. Companies are turning to third-party vendors to handle testing processes, ensuring faster time-to-market and improved product quality. The market is segmented by service types, including functional and non-functional testing, with key players offering a range of specialized testing solutions. North America and APAC lead in market share, with the rise of AI and automation further propelling market expansion.

Research Analysis

Embedded Software Market: Professional Insights into the Evolving Technology Landscape The Embedded Software Market is experiencing significant growth, driven by the increasing adoption of advanced technology in various industries. This market encompasses device software for hardware devices, including embedded sensor-power systems and real-time data processing. The Gas Engine Market, Consumer Electronics, Media and Entertainment, Military and Defense, IT and Telecom, and Healthcare sectors are major contributors to this market's expansion. The technology behind embedded software systems is continuously evolving, with AI evolution, 5G network expansion, and blockchain technologies playing crucial roles. Embedded software developers are in high demand as they are essential for the device lifecycle, ensuring security updates and maintaining optimal performance. Advanced technology trends such as Artificial Intelligence, Machine Learning, Automation, and Smart Cities are revolutionizing the way we live and work. STMicroelectronics, a key player in the semiconductor industry, is leading the charge with innovations like STM32 ZeST, which simplifies the development of sensorless motor drives. The future of embedded software is bright, with endless possibilities for innovation and growth.

Market Research Overview

The Embedded Software Market is a dynamic and evolving technology market that focuses on device software for embedded systems. These systems integrate hardware devices and embedded sensor-power systems to process real-time data. The market spans various industries, including Consumer Electronics, Media and Entertainment, Military and Defense, IT and Telecom, and Automotive. Technological advancements such as AI evolution, 5G network expansion, and the rise of autonomous driving are driving growth in this sector. Embedded software developers are essential in creating mobile system functions, real-time operating systems like VxWorks, and AI technologies like Machine Learning and Automation. The market also includes chip developers and semiconductor manufacturing facilities producing power semiconductors. Industries like Healthcare, Smart Cities, and Industrial Automation are adopting embedded software systems for advanced technology applications. However, security concerns, including cyberattacks and energy consumption, are significant challenges. Real-time embedded systems and network embedded systems are crucial in various applications, from flight control and telephone switching equipment to industrial control and real-time simulations. Programming languages like C, C++, and Java are commonly used in developing embedded software. Companies in this sector include STMicroelectronics, with offerings like STM32 ZeST and sensorless motor drives, and those specializing in power tools, appliances, E-bikes, Electric Vehicles, and Hybrid Vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• RTOs
• Compilers
• Assemblers
• Debuggers
• Others
• Application
• Automotive
• Consumer Electronics
• Industrial
• Aerospace
• Others
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio