Asia-Pacific, followed by North America, contributed to the highest market share in 2019, accounting for nearly half of the global embedded processor market
The global embedded processor industry generated $19.36 billion in 2019. It is now expected to reach $32.53 billion by 2028, witnessing a CAGR of 8.2 per cent from 2021 to 2028.
“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,” read a report by Allied Market Research.
Manufacturing activities of embedded processors have been hindered due to lockdown measures. Many facilities were partially or completely shut down during the lockdown. In addition, ban on import-export activities restrained the manufacturing as raw material shortage occurred.
The demand from application industries such as industrial, consumer electronics, automotive & transportation, and others reduced significantly due to disruptions in daily activities. However, the daily operations would get back on track during the post-lockdown and the demand would rose steadily.
Microprocessor segment to continue its leadership
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 per cent from 2021 to 2028, owing to several benefits such as additional security and flexibility to counter potential threats and reduce costs.
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 portray the highest CAGR of 11.3 per cent 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.
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.