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Embedded software market to register expansive growth from the proliferation of IoT, presence of industry leaders in North America to augment the regional growth

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Endowed with a profound application landscape spanning the automotive, healthcare and IoT sectors, the embedded software market has witnessed tremendous growth over the recent years. In the proliferating automobile sector in particular, the technology is used to drive complex embedded systems that perform vehicular applications like adaptive cruise control, anti-lock brake controls, GPS navigation, drive by wire, airbag control, suspension adjustment, wiper controls, tire pressure monitoring and more.

Japan Embedded Software Market Share, By Application, 2018

Additionally, in the booming era of electric vehicles, embedded software has effectively helped enhance driving experience for users by monitoring key vehicle aspects like power electronics devices as well as controlling tasks like battery management and power flow control. The proliferation in autonomous self-driving vehicles has also helped embedded software market garner lucrative returns. For instance, renowned global auto giants like Volkswagen, GM, Tesla, Waymo, BMW have been investing heavily in the autonomous vehicles sector. Reports from the Society of Motor Manufacturers and Traders (SMMT) project that autonomous and self-driving cars would add a value of around £51 billion a year to the UK economy by 2030.

Embedded software market to garner substantial momentum from the global medical sector

An increase in the demand for smart & connected IoT devices in the healthcare industry will have a positive impact on the embedded software market. The medical industry has, of late, emerged as the fastest growing adopter of IoT-enabled embedded OS devices. Using real-time monitoring, these devices could help save lives in times of medical emergency like heart failure, high diabetes, asthma attacks, etc.

Moreover, these devices can also collect and transfer health parameters like blood pressure, oxygen, blood sugar levels, weight and ECGs to the cloud and later share them with authorized personnel like doctors and insurance firms to take necessary steps. The development of advanced IoT-based medical devices like wearable fitness trackers would also help supplement growth of embedded software market from the medical industry.

Android to emerge as the topmost operation system for medical devices

Particularly in the medical sector, the Android OS has emerged as a vital force to reckon with. The software, although having gained prominence with its implementation in smartphones, has recently garnered immense traction in medical applications. With features like refined and modern GUI (Graphical User Interface), touch framework, advanced networking and communication offering, computational flexibility, and more, Android has emerged as a desired OS for medical device functioning.

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Moreover, by leveraging embedded Android, manufacturers can develop highly connected, modern medical applications with greater ease. For instance, in 2019, a study in JMIR Medical Informatics stated that a new Android & Windows-based application was developed recently that could allow physicians to predict short-term risks associated with adverse outcomes and suggest necessary treatment options for patients with chronic obstructive pulmonary disease (COPD). Such trends of advancements are anticipated to further supplement embedded software market growth over 2019-2025.

ARM Mbed RTOS segment to garner substantial returns in embedded software market

On account of the massive proliferation in connected IoT-devices, the ARM Mbed RTOS segment is expected to witness high growth scope in the embedded software market over the coming years. For the uninitiated, ARM Mbed OS is an open-source embedded OS specifically designed for running IoT applications. The operating system helps in reducing complexity and security issues linked with development, deployment and management of IoT devices.

Advancements and collaborations focused on reducing integration complexity will augment embedded software industry expansion from ARM Mbed as well. For instance, in 2018, ARM announced that its Pelion IoT Platform would align with Intel’s SDO (Secure Device Onboard) provisioning technology to onboard both x86 and ARM-based devices easier for IoT vendors and customers.

With the presence of renowned software giants including Microsoft, Intel and IBM, the North America embedded software market will garner commendable gains over the years to come. The surge in demand for connected IoT devices like Amazon Alexa, Google Home or smartwatches like the Apple Watch, have helped the embedded software market depict considerable growth in the U.S.

The introduction of advanced network technologies will also help the market expand across the region. For instance, in 2019, U.S. telecom giant Verizon launched its Narrowband IoT (NB-IoT) Network, specially developed for IoT applications, and announced that it would be available across the U.S., covering more than 92% of the country’s population. On account of the presence of strong industry contenders in the region, in tandem with the rise in demand for connected devices, North America held close to 50% of embedded software market share in 2018.

Embedded software-equipped products are thus witnessing growing adoption on account of their cost-saving property and efficient power consumption offering. With real-time systems, businesses can develop high-performance & low maintenance systems at profitable prices. The technology also helps reduce the overall development time & risks associated with product failure by accurately monitoring products on a real-time basis. As per estimates, embedded software market size is anticipated to exceed USD 20 billion by 2025.

Author NameMateen Dalal

An outline of POS terminals market with competitive spectrum as frame of reference, global industry to be characterized by a plethora of M&As & collaborations over 2018-2024

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Ezetap’s recent acquisition of FortunePay is a vital indicator of the growth in (Point of Sale) POS Terminals market. Similar to the growth strategies adopted by most markets, mergers & acquisitions and novel product launches primarily form the strategy landscape of POS terminals industry as well. In June 2017, Bangalore based POS firm Ezetap had acquired FortunePay, an online payment & physical payment service provider to banks in India. This deal is anticipated to help Ezetap avail the latter’s infrastructure and become a sole payment service provider for the traders in India. Earlier in June 2014, Ezetap had also collaborated with SBI (State Bank of India) to install 500,000 point of sale terminals across India over the coming five years. With more and more companies undertaking strategic tactics, POS terminals market is sure to carve out an appreciable growth map over 2018-2024.

UK POS terminals market, by application, 2017 & 2024 (USD Billion)
UK POS terminals market, by application, 2017 & 2024 (USD Billion)

An outline of the POS terminals market trends in terms of contributions by the industry veterans:

In January 2017, Fujitsu, a Japanese multinational IT equipment & service firm, launched Fujitsu TP8TM, a family of retail POS terminals, which was developed to optimize and improve the online payment performance across supermarkets, department stores, drug stores, and mass merchant stores. The new product also enhances the shopping experience of the customers across retail stores through its exceptional modularity. These new product innovations are expected to result in the robust expansion of POS terminals market.

In February 2017, OMA Emirates Group, a UAE based payment service provider, purchased MobiSwipe, one of the leading mPOS service providers. The acquisition will help OMA to expand its service portfolio across APAC, Middle East, and East Europe. MobiSwipe permits traders to make use of smartphones and tablets as POS terminal devices to accept payments via debit or credit cards. In a vital breakthrough, MobiSwipe, now a part of the OMA Emirates Group, in April 2017, announced the setup of more than 50,000 mPOS terminals in India within nine months. This is an instance of how major firms have been taking key initiatives to promote cashless deals in the country and explore new business growth avenues across India (Point of Sale) POS terminals industry.

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In May 2017, Mswipe, a startup firm in the  mPOS terminals industry,  formed a joint venture with PayU India, a digital payment service provider, to expand its online payment business through the purchase of the latter’s offline merchant acquiring business. As per the reports from reliable sources, PayU had acquired more than 9000 offline traders across India, who, along with their point of sale business will be moved to Mswipe. Dealers transacting with Mswipe can now use PayU India’s online payment options. According to expert opinions, the strategic alliance between the online payment service providers will benefit both in terms of revenue generation as well the consolidation of their positions in POS terminals market.

In July 2017, ScanSource Incorporation, a leading service provider of point-of-sale, barcode, networking, and data solutions, acquired POS Portal Incorporation, distributor & renter of POS devices, for USD 144.9 million to extend and improve its POS payment services across the globe. This is ScanSource’s sixth acquisition since last three years, with its recent purchase being Intelisys, a technology service distributor and master agent of carrier, telecom, & cloud solutions, for USD 83.6 million in June 2017.

The same year also witnessed NEXTEP SYSTEMS, a provider of self-order POS services, form a strategic alliance with LevelUp, the largest mobile payment platform developed by Massachusetts-based startup firm SCVNGR. The alliance will enhance the service efficiency of both the firms by offering more effective and user-friendly online payment options. Speedy   self and mobile ordering operations, ensuring a seamless and personalized experience for the users are expected to spur the business expansion and ROI of both these firms, thereby providing a boost to POS terminals industry. Global Market Insights, Inc., claim POS terminals market share to surpass USD 125 billion by 2024.

POS terminals industry is an evolving business sector with big players investing heavily in R&D activities to develop new technologies and products for gaining competitive edge. It is more likely that rapid expansion of POS terminals market will encourage new service providers and manufacturers to enter the business further encouraging the existence of fierce competition in the industry.  VeriFone Systems Inc., Panasonic Corporation, Ingenico Group, PAX Technology Inc., and Toshiba Corporation are some of the major brands of POS terminals industry.

Author NameSaipriya Iyer