Embedded Processor Market to Reach $32.53 Bn, Globally, by 2028 at 8.2% CAGR: Allied Market Research
- Surge in space constraints in semiconductor wafers, rise in demand for smart consumer electronics, and usage in the automotive industry drive the growth of the global embedded processor market.
PORTLAND, Ore., June 2, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Embedded Processor Market By Type (Microprocessor, Microcontrollers, Digital Signal Processor, Embedded FPGA, and Others) and Application (Consumer Electronics, Automotive & Transportation, Industrial, Healthcare, IT & Telecom, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028." According to the report, the global embedded processor industry generated $19.36 billion in 2019, and is expected to reach $32.53 billion by 2028, witnessing a CAGR of 8.2% from 2021 to 2028.
Prime determinants of growth
Surge in space constraints in semiconductor wafers, rise in demand for smart consumer electronics, and usage in the automotive industry drive the growth of the global embedded processor market. However, issues related to operation in harsh environment hinder the market growth. On the other hand, rise in popularity of IoT and increase in usage in the biomedical sector present new opportunities in the coming years.
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The microprocessor segment to continue its leadership status during the forecast period
Based on type, the microprocessor segment accounted for nearly two-fifths of the global embedded processor market in 2019, and is expected to continue its leadership status during the forecast period. This is due to surge in its applications in residential, industrial units, and manufacturing sectors. However, the eFPGA segment is estimated to register the fastest CAGR of 11.3% from 2021 to 2028, owing to several benefits such as additional security and flexibility to counter potential threats and reduce costs.
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The consumer electronics segment to continue its dominant share by 2027
Based on application, the consumer electronics segment held the largest market share in 2019, accounting for nearly one-fourth of the global embedded processor market in 2019, and is projected to continue its dominant share by 2027. This is due to rise in initiatives by governments in terms of funding toward digitalization. However, the healthcare segment is expected to portraythe highest CAGR of 11.3% from 2021 to 2028. This is due to emergence of technologies in medical devices such as wireless communication, ECG electrocardiogram, sensors, and body area network (BAN) for monitoring heart rate, pulse rate, oxygen, temperature, and blood pressure.
North America, followed by North America, to maintain its lead position in terms of revenue by 2027
Based on region, Asia-Pacific, followed by North America, contributed to the highest market share in 2019, accounting for nearly half of the global embedded processor market, and is estimated to maintain its lead position in terms of revenue by 2027. Moreover, this region is expected to witness the highest CAGR of 9.9% from 2021 to 2028. This is due to the availability of high-end enhanced technologies, rise in demand for smart electronics, and growth of manufacturing industries. The report also analyzes regions including Europe and LAMEA.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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