GMI states that the increase in revenue is due to the adoption of embedded devices in the retail and automotive sectors. (Image credit: Global Market Insights)
Embedded Systems have been growing exponentially and can be found in a ton of applications, including IoT devices, manufacturing, autonomous vehicles, home/building automation, and more. It stands to reason that embedded software follows suit, and keeps those devices and applications running smoothly, so much so, that Global Market Insights predict they will generate a market value of $20-billion by 2025 from its current value of $12-billion.
Some of the significant points released in the report suggest that the uptick in growth is due to the ever-increasing adoption of embedded systems in the retail and automotive sectors. According to GMI, “The compactness of embedded devices helps in easy installation in small vehicle spaces and can be deployed for features such as altering octane levels in fuel, adjustment of suspension, security systems, and anti-lock braking systems.” Of course, the embedded software those systems use to control those functions, while also increasing fuel efficiency and decreasing emissions by maintaining peak performance.
Additional contributing factors include the increasing demand for open-source Linux and RTOS software, which is expected to register a CAGR (Compound Annual Growth Rate) of 11% with the rising demand of electronic consumer and automotive electronics, as well as medical devices. Linux also commanded a large market share last year due to the need for open-source software. ARM’s Mbed operating system is also expected to grow as demand for IoT and smart systems increase in demand. North America’s embedded software market garnered over a 50% share in 2018 due to heavy hitters such as Microsoft, Intel, and IBM, and will remain important players with the continued development of software applications. Those who would like to know more about the drive to a $20-billioon embedded software market can read the report on GMI’s website.
Have a story tip? Message me at: cabe(at)element14(dot)com