According to the latest report by IMARC Group, titled "Embedded Processor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global embedded processor market reached a value of US$
17.5 Billion in 2021. An embedded processor refers to a type of microprocessor that is programmed into a system to simultaneously control its electrical and mechanical functions. It comprises various discrete chips that are embedded in one system while also consisting of dedicated computing cores, memory and programmable input/output peripherals. It is characterized by a simple design and compact size that has limited computational power and minimal power requirements. It is specially designed to cater to the requirements of an embedded system. These systems find extensive applications in numerous consumer electronics, household appliances and telecommunication systems.
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Global Embedded Processor Market Trends:
The market is primarily driven by the increasing sales of consumer electronics across the globe. This can be attributed to the improving living standards of the masses, inflating disposable income levels and the rising penetration rate of high-speed internet connection. Since embedded processors form an indispensable component of these electronics, this is providing a thrust to the market growth. There has also been a significant increase in automation and rapid digitization across numerous industrial processes. Several industries are widely utilizing embedded processor-based systems to facilitate smooth operation and enhance the overall performance of industrial equipment, which is catalyzing the market growth. The market is further driven by their escalating demand from the automotive sector. Manufacturers are now replacing mechanical systems in automobiles with electronic systems due to the enhanced convenience offered by them. They are employing embedded systems for automating numerous functions of the vehicles, including wiper, airbags and anti-lock brake controls. These systems are additionally being employed in the healthcare sector for analyzing data obtained from X-rays, nodes, sensors, ultrasounds and computed tomography (CT) scans. Moreover, these processors are now being integrated with embedded graphics and multiple advanced technologies, including artificial intelligence (AI) and the Internet of Things (IoT). These variants are expected to offer enhanced efficiency with improved internet capabilities, thereby creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 7.2% during 2022-2027.
- On the basis of the type, the market has been divided into microprocessor, microcontroller, digital signal processor, embedded field programmable gate array (FPGA) and others.
- Based on the basis of the number of bits, the market has been classified into 16 bit, 32 bit, 64 bit and others.
- On the basis of the application, the market has been categorized into automotive/transportation, industrial automation, information and communication technology, healthcare, utilities and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Analog Devices, Inc., Broadcom Inc., Infineon Technologies AG, Intel Corporation, Microchip Technology Inc., NXP Semiconductors N.V., ON Semiconductor Corporation, Renesas Electronics Corporation, STMicroelectronics N.V., and Texas Instruments Incorporated.
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