PUBLISHER: Inkwood Research | PRODUCT CODE: 1139197
PUBLISHER: Inkwood Research | PRODUCT CODE: 1139197
The Asia-Pacific embedded systems market is predicted to record a CAGR of 5.34% during the forecast years 2022 to 2030. Some of the key factors influencing the market growth of the region are the augmenting presence of electronics companies, the growing demand for embedded systems in the healthcare industry, and the increasing production of electrical products.
The Asia-Pacific embedded systems market growth evaluation comprises the assessment of South Korea, Thailand, Indonesia, China, Japan, India, and Rest of Asia-Pacific. Presently, South Korea ranks third globally in terms of electronics production. As per a report issued by the Korea Electronics Association, the Korean electronics industry recorded $171.1 billion in the year 2018, equating to 8.8% of the international market. Moreover, South Korea's electronics manufacturing surged 53.3% from 2013 to 2018, surpassing Japan to take over the third position. This notable growth is primarily credited to robust performances by chip leaders, such as Samsung Electronics Co, as well as SK Hynix Inc.
Furthermore, owing to the rising trend of smart offices and smart homes in South Korea, the demand for consumer electronic devices is increasing. These include smart TVs, smart air conditioners, and smart refrigerators. Hence, the abovementioned factors are set to play an integral role in fueling the embedded systems market growth in South Korea during the estimated period.
Leading companies operating in the market include: Renesas Electronics Corporation, Samsung Electronics Co Ltd, Fujitsu Limited, etc.