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IoT is the Main Engine for Growth and Innovation in a Market Going through an Intense Consolidation Phase
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IoT, powered by embedded sensors and ubiquitous cloud/mobile computing, is creating new business models and driving billions in spending across all key verticals – manufacturing, automotive, retail, and security – on a global scale. The revenue for the global embedded computing systems market is expected to increase from $55.51 billion in 2017 to $83.86 billion in 2023, at a compound annual growth rate (CAGR) of 7.1%. Falling hardware prices, emergence of LPWANs, power-efficient processors, expanded wireless and broadband connectivity, and implementation of the IPv6 protocol are other growth catalysts. North America is the biggest market for embedded systems.
This market insight covers the following:
The global market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
The base year of the study is 2017, with forecasts running up to 2023. The research highlights key trends impacting the global embedded computing systems market and outlines future implications. There are several underlying technologies that have made IoT a reality. These technologies include embedded systems, short and long wireless range communications, mobile technology, big data analytics, AI, machine learning (deep learning), semantic technologies, next-generation networks, and cloud / edge computing.
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