Embedded Processor Market Progresses for Huge Profits by 2028
Allied Market Research, titled, “Embedded Processor Market Size By Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028”, the global embedded processor market size was valued at $19.36 billion in 2019, and is projected to reach $32.53 billion by 2028, registering a CAGR of 8.2%. Asia-Pacific is expected to be the leading contributor to the global embedded processor market during the forecast period, followed by North America and Europe.
An embedded processor is a type of microprocessor, which is designed for an operating system to control the electrical and mechanical systems of the microprocessor. Embedded processors are usually simple in design and require minimal power requirements for its computational operations. An embedded processor is especially designed for handling the needs of an embedded system and to handle multiple processors in real time. As embedded system requires low power, they are preferred by various industry verticals as they draw less power from the energy sources.
Embedded processors are usually developed to be integrated in the devices, which are required to handle multiple processors in real time. These processors are in the form of a computer chip that are embedded in various microcontrollers and microprocessors to control various electrical and mechanical systems. These processors are also equipped with features such as storing and retrieving data from the memory. Embedded processors commonly work as a part of a computer system along with memory and other input-output devices.
The global embedded processor market is anticipated to witness significant growth during the forecast period. Factors such as rise in space constraints in semiconductors wafers, increase in demand for smart consumer electronics, and emerging usage of embedded processors in the automotive industry boost the growth of the global market.
However, high implementation cost of embedded processors in different applications acts as a major restraint hampering the embedded processor industry. Furthermore, increase in popularity of IoT, rise in trend toward electric vehicles, and increase in usage of embedded processors in the biomedical sectors offer lucrative opportunities for the embedded processor market growth globally.
The global embedded processor market share is analyzed by type, application, and region. Based on type, the market is analyzed across microprocessor, microcontrollers, digital signal processor, embedded FPGA, and others. On the basis of application, the market is divided into consumer electronics, automotive & transportation, industrial, healthcare, IT & telecom, aerospace & defense, and others.
Region wise, the embedded processor market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. As per the embedded processor market analysis, Asia-Pacific is leading the market and is expected to be the fastest growing regional segment in the near future, with the highest CAGR. With an increase in demand for high voltage operating devices, organizations across verticals are realizing the importance of embedded processors to ensure efficient power management.
In addition, North America holds the second largest share in the global market, and is expected to witness significant growth during the forecast period, owing to the extensive adoption of advanced technology by the region. The factors such as rise in demand for smart electronics and proliferation of high-end advanced technologies drive the growth of the market in the region.
COVID-19 Impact Analysis
The COVID-19 has impacted severely on the global electronics and semiconductor sector, due to which production facility as well as new projects have stalled which in turn have the significant demand in the industries. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of COVID-19 disease; thereby, leading to slowdown in the growth of the embedded processor market in 2020.
Key Findings of the Study
The microprocessor segment is projected to be the major IC type during the forecast period followed by microcontrollers.
APAC and North America collectively accounted for more than 69.01% of the embedded processor market share in 2019.
The healthcare segment is anticipated to witness highest growth rate during the forecast period.
China was the major shareholder in the Asia-Pacific embedded processor market, accounting for approximately 23.52% share in 2019.
The key players profiled in the report include NXP Semiconductors, Broadcom Corporation, STMicroelectronics, Intel Corporation, Infineon Technologies AG, Analog Devices Inc., Renesas Electronics, Microchip Technology Inc., Texas Instruments, and ON Semiconductor. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.
