Embedded processor market to reach $36.38 billion by 2026

Embedded processor
According to a report by Allied Market Research, the global embedded processor industry will reach $36.38 billion by 2026, growing at a CAGR of 6.6%. (Pixabay)

Surge in space constraints in semiconductor wafers, rise in demand for smart consumer electronics, and usage of embedded processors in the automotive market are driving the growth of the global embedded processor market, according to a report by Allied Market Research titled, "Embedded Processor Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2018–2026." According to the report, the global embedded processor industry will reach $36.38 billion by 2026, growing at a CAGR of 6.6% from 2019 to 2026.

Based on type, the microprocessor segment held more than one-fourth of the total market share of the global embedded processor market in 2018 and is expected to maintain its dominance during the forecast period. This is due to surge in usage of microprocessors in different industries. Moreover, the embedded FPGA market is projected to grow at 8.7% from 2019 to 2026, owing to advent of embedded systems in networking and data centers, along with implementation at wireless base stations and other applications.

Based on application, the consumer electronics segment accounted for the highest market share in the global embedded processor market, holding nearly one-fourth of the total market share in 2018, and will continue to dominate in terms of revenue throughout the forecast period. This is attributed to increase in initiatives by government in terms of funding for digitalization and innovation in smart technologies in the consumer electronics industry. The healthcare segment is expected to grow at 10.0% from 2019 to 2026, due to the use of advanced technologies in medical devices such as wireless communication, sensors, ECG electrocardiogram, body area network (BAN) for heart rate monitoring, pulse rate tracking, and measuring of temperature, oxygen, and blood pressure

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Based on region, Asia-Pacific contributed the largest market share in 2018, accounting for more than two-fifths of the global embedded processor market, and will maintain its highest share throughout the forecast period. Moreover, this region is expected to maintain the highest growth rate, with a CAGR of 8.3% from 2019 to 2026. This is due to the access to high-end advanced technologies, rise in demand for smart electronics, and growth of manufacturing industries. On the other hand, North America contributed the second highest market share in 2018.

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