The industry report “Embedded System Market Size By Application (Automotive, Industrial, Consumer Electronics, Telecommunication, Healthcare, Military & Aerospace), By Product (Software, Hardware) Industry Outlook Report, Regional Analysis, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” . Embedded system market share forecast to reach USD 258.72 billion by 2023, as per a new research report by Global Market Insights, Inc. Mounting need mainly from application sectors such as healthcare as well as automotive is expected to drive demand. In addition, emergence of IoT is anticipated to fuel industry growth.
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Embedded hardware system market size was valued USD 154.82 billion in 2015 and is anticipated to observe significant gains, with USD 240.11 billion at a CAGR of 5.5% from 2016 to 2023. Technological innovation and advancement in emerging nations such as Russia, India, China, Brazil and Taiwan is likely to spur growth. Embedded software was valued at USD 10.46 billion in 2015, and is anticipated to attain USD 18.61 billion by 2023, at an estimated CAGR of over 7.3% over the forecast period.
Technology innovation in wireless communications, software and digital processing is expected to positively impact embedded system market size. Systems that effectively and efficiently drive the electronic contents within…