Embedded Software and Industry Trends

The market of embedded systems is rapidly growing over the world. A study by Global Market Insights reveals that the global market revenue for embedded software is likely to reach $21.5 billion by 2027. The key players in the industry are striking deals to come up with enhanced IoT solutions with efficient and enhanced embedded software. So, it’s time to have a look at the top trends that are dominating the market.

Development of electric and autonomous vehiclesElectric cars and self-driving vehicles are witnessing strong demand. Developing these cars involves embedded tools, and this trend is on the rise. Electric cars will be the future of the automotive industry across the globe. Besides, the deployment of AI tools in the automotive industry has further strengthened this trend. Developing electric cars also call for better leverage of embedded software. With better connectivity at the electronic touchpoints, the trends of embedded software are going strong.

Development of healthcare equipmentThe evolving healthcare sector around the globe has witnessed a consistent integration of embedded software. Besides, during the pandemic, the healthcare industry has undergone a revolution with embedded medical equipment enhancing treatment procedures. Besides ventilators, embedded software is necessary for several other advanced medical equipment. Even after the pandemic, this equipment will continue to be in the trend. There is no other reason why embedded software trends are dominating the healthcare industry.

Rising trend of industrial automationThe embedded software industry all over the world has been booming with the demand for such technology in industrial automation. As the world transcends to Industry 4.0, digital automation trends are on the rise. Besides, in different countries, industries are using embedded software during their digital transformation journey. Even in the coming years, embedded tools will continue to strengthen the delivery of better, more efficient, and competitive products in different industries. Various hardware equipment also needs embedded technology to operate efficiently. Software is also needed in electronic devices and automotive components to access data and control the same.

Development of special-purpose hardwareEmbedded tools are also finding an increasing deployment in the development of special-purpose software. Interestingly, standalone systems would be delivering a high volume of revenue by 2027. Currently, MCUs (microcontroller units) and FPGAs (field-programmable gate arrays) are in high demand across the world.

In 2020, the mobile system segment contributed 15% of the market share of embedded software. Embedded systems have become part of all mobile devices. This has enabled businesses to handle operations remotely. Let’s have a look at the application spectrum for a better view. In 2020, the

consumer electronic segment accounted for 20% of the share. By 2027, this share is likely to account for an 8% CAGR. With the rising use of electronic devices like smart TVs, laptops, and smartphones, this trend is likely to dominate the next few years. Besides, you have smartwatches based on different operating systems like Linux and Android.

We have discussed the scope of deploying embedded software in different industries including manufacturing, automotive, mobile devices, and other sectors. Regardless of the industry, the demand for embedded software has been increasing significantly. These trends will continue to dominate the respective sectors in the coming years.

Gadgeon is an end-to-end IT outsourcing services company which is reputed for its deep expertise in Industrial IoT software development and product engineering services. We connect devices, operations, and processes to create business value, and revolutionize enterprises with the power of data. As a professional company offering IoT Software product engineering services, we have successfully enabled the digital journey of customers with critical digital services ranging from embedded systems to testing & test automation.