- The Field Programmable Gate Array segment is estimated to grow at CAGR of 8.7 per cent from 2019 to 2026
- Asia-Pacific contributed the largest market share in 2018 and will continue to dominate
According to a report titled,“ Embedded Processor Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018–2026 ” published by Allied Market Research, the global embedded processor industry garnered $21.42 billion in 2018 and is estimated to generate $36.38 billion by 2026 at a compounded annual growth rate( CAGR) of 6.6 per cent from 2019 to 2026.
The report says the microprocessor segment held more than one-fourth of the total market share of the global embedded processor market in 2018 and will hold on to its dominance during the entire forecast period. The Field Programmable Gate Array (FPGA) segment is estimated to grow at CAGR of 8.7 per cent from 2019 to 2026 due to the use of embedded system in networking and data centers with implementation at wireless base stations.
Embedded processors in the biomedical field
According to the report, rise in prominence of IoT and increase in usage in embedded processors in the biomedical field have created new opportunities in the industry. Other key determinants for growth has been surge in space constraints in semiconductor wafers, rise in demand for smart consumer electronics, and usage of embedded processors in the automotive market says the report.
Asia-Pacific has highest market share
The report also says that Asia-Pacific contributed the largest market share in 2018 capturing more than two-fifths of the global embedded processor market and it will continue to maintain its highest share by 2026 followed by North America.
It will also witness the highest growth rate at a CAGR of 8.3 per cent from 2019 to 2026. The reasons for this expected growth rate are access to high-end advanced technologies, rise in demand for smart electronics, and growth of manufacturing industries claims the report.