By DE Editors
BCC Research has released a report titled, “Embedded Systems: Technologies and Global Markets,” in which it reported the global market for embedded technology was valued at $113 billion in 2010. The market is expected to grow at a compound annual growth rate (CAGR) of 7% to reach nearly $158.6 billion in 2015.
The embedded technology market can be divided into two segments — embedded hardware and embedded software. The hardware segment accounted for nearly $109 billion in 2010, and after increasing at a CAGR of 7%, should surpass $152.4 billion in 2015. The software segment was valued at $4.2 billion in 2010 and in 2015 should reach $6.1 billion, a CAGR of 7.8%.
Many factors are driving growth of the embedded devices business, including falling average sale prices of hardware due to shrinking semiconductor technology. This will continue to drive development of powerful, feature-rich embedded devices in the future, according to the report. Other factors, such as the rise of the open-source movement on the Web, strengthened by the rise of Android, should continue to lead innovation. The availability of low-cost engineering talent in Asian countries will ease the design and development of embedded devices. The embedded technology market will continue to flourish over the long term as new applications of technology emerge, BCC Research says.
This report is a horizontal report that touches many vertical industries.
For more information, visit BCC Research.
Sources: Press materials received from the company and additional information gleaned from the company’s website.