The global report on the embedded software market is predicted to surpass a valuation of USD 19 billion by 2022, with a CAGR of 9% during the forecast period of 2017 to 2022. Market Research Future (MRFR) discussed various factors that can propel the embedded software market size. These factors are rising demand for portable electronic gadgets like laptop, the inclusion of technologies that enable the machine to machine communication, growing percolation of Internet of Things (IoT), demand for energy-efficient policies, burgeoning semiconductor industry, hike in automation in the manufacturing sector, investment in research, and others.
The global embedded software market is getting backed by companies like Green Hills Software (U.S.), Enea Software AB (Sweden), Intel Corporation (U.S.), Microsoft Corporation(U.S.), IBM Corporation (U.S.), Emerson Network Power (U.S.), Advantech Industrial Computing India Pvt. Ltd (Taiwan), Mitsubishi Electric Corporation (Japan), Microchip Technology Inc. (U.S.), and STMicroelectronics (Switzerland), and others. These companies and their implemented strategies are influencing changes in the market. MRFR analysts recorded latest transformations in the market to make sure that tracking of the global market flow becomes easier.
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The global embedded software market has been studied on the basis of a segmentation that includes programming languages and applications. MRFR analysts have analyzed each sector to get a comprehensive knowledge of how the market is moving ahead and setting up trends for the future.
By programming language, the global market study of the embedded software market includes a segmentation comprising C, Assembly Language, C++, .Net, Java, and others.
By applications, the global market report on the embedded software market includes segments like consumer electronics, healthcare, automotive and radio satellite devices, and others. The automotive sector has substantial growth scope.
North America’s end user industries are creating scope for the growth of the market. In the US and Canada, the percolation of IoT is creating ripples, which is directly impacting the global embedded software market growth.
In August 2020, Elektrobit (EB), a company known as one of the major global suppliers of embedded and connected software products with the automotive industry as the main focus area, declared they had integrated new features and capabilities for EB GUIDE that will assist developing advanced human-machine interfaces (HMIs) in better ways and make it accessible to a broader range of developers. Raspberry Pi users can now plan various experiments with innovative HMI concepts using the software development kit (SDK) specially designed for Raspberry Pi in EB GUIDE.
In August 2020, Borqs Technologies, Inc., a global leader known for its superior contributions in embedded software and products involving the Internet of Things (IoT) industry, revealed that it had fetched a purchase order of around US$15M to supply mobile point of sale (POS) IoT devices to their counterparts in India. The electronics industry in this Asian country is witnessing fast-paced growth, which has created a huge scope for companies to weigh their options in the region. The company has designed and developed the POS IoT device using top-notch technologies, which will work well in the Indian market, especially in areas like payment methods, latest radio bands, etc. It also passed the global mobile payment certifications and got recognition from the Indian mobile operators.
The COVID-19 crisis is predicted to boost the global market demand for embedded software as the global market is experiencing a huge rise in the intake of portable electronic devices like laptops and others.
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