Embedded software is the special programming done on a chip in an embedded device to control its functions. The global market for embedded software will be driven by the steady growth of consumer electronic devices and the increased investments in the automation technologies adopted by the manufacturing sector. The market is also driven by the increasing demand for multimedia products and portable computing devices such as laptops. The rise in machine to machine (M2M) communication is leading to a parallel growth in demand of machine to machine embedded software. The Internet of Things (IoT) is an important driver, as all connected things contain embedded software. Increased adoption of embedded software in the semiconductor industry is also driving the growth of this market. Increasing demand for smart electricity meters is anticipated to boost the embedded software market over the forecast period. The requirement for smart meters is expected to grow with the introduction of energy efficiency policies. The market is expected to grow substantially with the rising trend of wireless technology across various industry verticals such as healthcare and automotive among others.
The global embedded software market is expected to grow from US ~$10 Billion in 2016 to US~$ 19 Billion by 2022, at an estimated CAGR of ~9%. The growth of this market can be constrained by the increased safety and security concerns along with the real time constraints. Embedded software possesses memory and processing constraints because of limited computing capabilities of devices. Design constraints pertaining to real time embedded system are also hindering the progress of embedded software market.
Technological advancements are likely to offer enhanced functionality as well as high flexibility to consumer electronics devices through 2022. Deployment of this software in electronic devices also aids in cutting down the overall cost of production. Healthcare sector is projected to experience moderate growth rates over the forecast period. Growth in the sector can be attributed to rising need for portable medical devices.
EFIRMDesign will help you to join this trend by providing your enterprise with the knowledge and expertise required to successfully porting your ideas and IP to embedded software solution, consult you on correct platform for your product and designing the necessary hardware.
EFIRMDesign is a boutique embedded software development company, assisting most dynamic and fast growing companies in healthcare, telecommunication, and IoT simplifying their development and implementation process on the way to success.
EFIRMDesign holds expertise in analog and digital hardware design, state-of-the-art customized power supplies, and embedded firmware and UI development.