The Rise of Automotive and Other Sectors in Embedded Systems By CIOTechOutlook Team

The Rise of Automotive and Other Sectors in Embedded Systems

CIOTechOutlook Team | Tuesday, 14 November 2023, 08:57 IST

The worldwide embedded systems market was worth USD 91.43 billion in 2022 and is predicted to grow at a 6.4% CAGR during the forecast period. Technological advancements in robotics, automation, and the Internet of Things (IoT), as well as an increase in demand for embedded systems in various industries including as healthcare, automotive, and smart homes, are driving market growth.

Embedded systems, comprising computer hardware and software tailored for specific tasks, have witnessed significant advancements, including innovations in microchip technology, IoT integration, and smart devices. These systems play a vital role in healthcare, enabling the development of innovative medical devices for monitoring vital signs and facilitating real-time data transmission to healthcare professionals, as per Emergen Research.

As evidenced by top firms like as Advantech and MOV.AI, partnerships and collaborations are propelling industry development. Their partnership seeks to expedite the manufacture of Autonomous Mobile Robots (AMRs) by combining cutting-edge industrial computer technology with a robust software platform, therefore promoting the development and deployment of smart robots.

Hardware and software are important market divisions, with hardware accounting for the majority of sales in 2022. Microprocessors and sensors, for example, are critical for constructing embedded systems, enabling efficient assessment, and increasing sales. The software industry is also growing in importance, particularly in vital industries such as healthcare, automotive, aerospace, and industrial automation, where specialized software integrated in hardware is important for increased functionality, enhanced security, and customisation.

In 2022, real-time embedded systems led the market, which is critical for applications that require quick reactions. The integration of IoT in numerous devices and platforms, together with advances in sensors and actuators, is increasing demand for sophisticated real-time embedded systems that fulfill the strict criteria of vital sectors.