Electronics Production |
Global market for Embedded Systems worth $112.5 billion in 2013
According to a new market research report made by Electronics.ca Publications, the global market for embedded systems technologies was worth $92.0 billion in 2008. This will increase to $112.5 billion in 2013, for a compound annual growth rate (CAGR) of 4.1%.
Embedded hardware currently has the largest share of the market, worth $89.8 billion in 2008. This should increase at a CAGR of 4.1% to reach $109.6 billion in 2013. The embedded software segment has the second largest share of the market, worth $2.2 billion in 2008. This segment is expected to generate $2.9 billion in 2013, for a CAGR of 5.6%.
The rise of the open source software movement on the web, coupled with low cost engineering talent available via outsourcing, will ease the design and development of embedded devices. The embedded hardware market will continue to flourish over the long term as new applications emerge.
