Automotive sector to be a lucrative growth segment for the Embedded software market: ‘Connected Cars’ to boost RTOS market share
Samsung acquisition of Harman, the news which made to the headlines on 15th November, 2016, electrified the business space globally. This is a precise example of the ‘connected’ path where an electronics Giant joint hands with a renowned automotive player, both significantly connected to the Internet of things. The dynamic world today, driven by ‘smart’ technologies, demand for precise and real time operations in every aspect, without any delays. The demand for real time operating systems across various industries such as Automotive, Consumer Electronics, Healthcare, Military & Defense, Telecommunication, etc. is creating a huge scope for the Real time operating systems or the Embedded software market. As per Global Market Insights, Inc., “the global embedded software or the real-time operating system (RTOS) market worth USD 10.46 billion in 2015, is forecast to surpass a revenue of USD 18.60 billion by 2023.”
It is estimated that by the end of 2022, nearly all the cars will be connected to the cloud. This will lead to automotive sector contributing towards a significant share of the embedded software market. The RTOS enables the car with features like internet based services, navigation, data communication systems such as keyless entry, infotainment, etc. Moreover, it also looks after the security aspects of the vehicle by monitoring airbags, tire inflation, and ABS (antilock braking systems). In addition to this, the rising trend of electric and hybrid electric vehicles will also boost the RTOS market size in the automotive sector. RTOS application in the automotive sector is estimated to grow at a CAGR of 8% over 2016-2023.
The growing trend of wearable smart devices will also proliferate the embedded software market growth. Wearable devices encompass a bunch of sectors such as healthcare, security, etc. and will therefore bring immense opportunities on the board for the RTOS market players. All these sectors strive for product efficiency as well as optimum resource utilization, needing a simple system to deal with the complexities, thereby boosting the RTOS industry share. Growth in the consumer electronics industry owing to the surging demand for electronics devices like Tablets, Smartphones, laptops, etc. will further accelerate the embedded software market size. Embedded software application in the consumer electronics industry is estimated to surpass USD 4 billion by 2023.
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The RTOS system is programmed by using five popular languages such as C, Assembly, C++, Java, .NET. Out of these programming languages, C accounted for the major share in the previous years and is expected to continue dominating the market over the coming period. C enables direct access to the API (application program interface) and has a comparatively quick run-time, which make this language popular over the others. Embedded software implementation through C language is anticipated to register a CAGR over 2016-2023.
The global market for embedded software is quite promising. The US market accounted for over 68% of the overall industry share in 2015, and is likely to dominate the industry over the coming years. A large industry base across this region makes it a lucrative ground for RTOS market. The Asia Pacific embedded software market, primarily led by India and China, is projected to grow at a CAGR of 8.5% over the coming seven years.
The growing IoT industry which itself has limitless potentials, will bring immense growth opportunities for the RTOS/embedded software market players. The RTOS will reduce the complexities which the developers face while designing the various IoT products. The industry will witness various mergers & acquisitions and strategic collaboration to improve their product range and quality. For instance, a recent collaboration was the acquisition of Micrium RTOS by Silicon Labs to bet on IoT landscape. Some of the key market players holding a significant share in this business space are Altera, IBM, Infineon, Johnson Matthey, LG CNS, Intel, Xilinx, Mentor Graphics, Express Logic, Advantech, ENEA, Green Hills Software, and Microsoft. The envision of a smart connected world will be well accompanied by the embedded software market growth over the coming timeframe.
Author Name : Shikha Sinha
This entry was posted in Sustainable & Smart Technologies and tagged Embedded, Embedded Software, Embedded Software Design, Embedded Software Development, Embedded Software Industry Trends, Embedded Software Market, Embedded Software Market Forecast, Embedded Software Market Share, Embedded Software Market Size, Embedded Software Market Statistics, Embedded Software Market Trends, Embedded System Market, Real Time Operating System, RTOS.