An embedded system is a combination of software and hardware which together facilitate the accurate functioning of a target device. The significant characteristics of an embedded system are speed, power, size, accuracy, reliability and adaptability. Embedded systems can be defined as application-specific, special purpose systems and they are designed typically for meeting real time constraints.

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Embedded System Market was valued at USD 152.94 billion in 2014 and is estimated to grow at a CAGR of 6.4% and reach USD 233.13 billion by 2021.Increasing demand for smarter and power efficient electronic devices and increasing application of embedded systems in the automobile industry is primarily driving the growth of the market. Embedded systems are being increasingly deployed in advanced devices such as smart meters, in order to ensure desired and accurate functioning. Growing demand for these devices, on the account of energy efficiency initiatives on a global level is thus boosting the growth of overall market. Increasing demand for these processors with multi-core technologies and embedded graphics is also set to bolster the growth of the market. These factors in total are expected to impact the growth of global embedded system market positively during the forecast period from 2015 to 2021.

An embedded system is programmed to perform a specific function or control a smaller device within a larger electrical or mechanical system. By doing so, embedded systems are able to fill in many of the gaps that a general-purpose computer’s capabilities might leave. This also explains the unmatched degree of versatility that embedded systems afford in a myriad of uses across industry verticals. The automobile industry, in particular, is expected to generate high demand for embedded systems in the near future. As real time data transfer and information relaying becomes pivotal to most industries, the use of embedded systems will rise.

However, the electronics industry is still grappling with challenges pertaining to the design and seamless integration of embedded systems in the latest electronic and electrical devices. This could result in the global embedded systems market’s growth being restrained to some extent. This situation is exacerbated by the high degree of competition that currently prevails among market participants, making innovation a vital tool for survival.

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Widely regarded as the Progenitor of IoT, Embedded Systems will continue to Find Uses in Smart Devices

Experts in the electronics industry often remark that embedded systems were the precursor to IoT. However, the IoT industry has evolved so rapidly that it now directly influences the way embedded systems are designed and implemented. From smart wearables to military equipment to software applications, embedded systems are increasingly being used in every new application that impacts our lives.

With the prices of hardware components such as microcontrollers, microprocessors, and FPGA chips having dipped in recent years, companies now find it more cost-effective to purchase a generic chip and create their own code for it. This is the approach now being followed by numerous companies producing smart electronics, smart devices, and other sophisticated electronics that are a part of the IoT ecosystem.