This Week’s Top Stories About Electronic and Embedded Technology
Electronic and embedded technology are two of the hottest topics in the tech world today. The embedded technology sector has seen steady growth over the past decade, but 2020 has been a particularly unprecedented year in terms of accelerating growth. From autonomous drones to artificial intelligence to the Internet of Things, these technologies rapidly change how we interact with the world around us.
Companies focusing on increasing their capabilities to meet the market’s demand will be well-positioned to succeed. By leveraging technological advances and understanding customer needs, companies can ensure they remain ahead of the curve and drive effective growth in the embedded technology sector for the coming year.
Market Research for Embedded System Applications
The embedded technology market is divided into automobiles, electronic goods, industrial, aerospace and defense, and other segments based on application. A study suggests the market for embedded systems worldwide, estimated to be worth $89.1 billion in 2021, is anticipated to increase to $163.2 billion by 2031, rising at a CAGR of 6.5% between 2022 and 2031.
A collection of computer hardware and software created for a particular purpose is known as an embedded system. Furthermore, embedded technology may function as a component of a larger system. The systems may be programmable or limited in their capabilities. Most industrial, consumer, agricultural, and processing equipment, vehicles, medical devices, cameras, digital watches, home appliances, and vending machines contain embedded systems.
The method of designing embedded systems is being revolutionised by embedded systems engineers, who are also changing how data centres are run. To conserve power, they use certain types of chips that enable software to hardware data transfer, which is essential for power-sensitive embedded systems applications.
Due to a rise in demand for advanced driver-assistance systems (ADAS) in electric cars (EVs) and hybrid vehicles, the worldwide embedded systems market is expected to expand over the forecast period. An increasing number of research and development projects on embedded systems will also fuel the expansion of the global embedded systems market. On the other hand, the rise of 5G and 5G-based embedded technology is projected to augment the expansion of the Indian electronic market.
Additionally, during the projection period, the demand for multicore central processing units (CPUs) in military applications is anticipated to drive the expansion of the embedded systems industry. However, the security of embedded systems is one of the main challenges preventing the embedded system sector from expanding.
Wrapping Up
In 2023, a large increase in the market for embedded system applications is anticipated. This expansion results in a surge of talent with niche skills. We at Krehsst have developed a reputation of tapping into the niche market and are providing our clients with excellent manpower for embedded technology such as Autosaar developers and testing, Firmware developers for senior roles of solution architects, and project leads. Krehsst assists businesses in expanding their team staff by providing long-term talent solutions. Our experts will make the hiring process simple, reasonable, and advantageous.
