December 2, 2020 2:26 am

Worldwide to reach $110.3 million by 2023: Frost & Sullivan

The worldwide embedded instrumentation market revenue will reach $110.3 million by 2023, growing at a CAGR of 13.1%.

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The worldwide revenue will reach $110.3 million by 2023, growing at a CAGR of 13.1% from 2016 to 2023 said a report.  According to research firm , the embedded instrumentation market is witnessing double-digit growth due to increased demand from the automotive and telecommunication industries and the miniaturisation and complexities of electronic devices.

“The need for embedded instrumentation has boosted the demand for higher functionalities and increased the ease of use for the end user. However, it has also increased the overall complexity of the electronic system due to technology advancements and space constraints, which demand the need for embedded testing,” Aravind Seshagiri, Research Manager for Industrials at said, adding that “in the future, the Internet of Things and Industry 4.0 will create huge market opportunities for embedded instrumentation.”

The research firm said that five growth opportunities in the global embedded instrumentation sector include – Smart automobile, including and data management services, real-time testing and debugging, and smart inspection through embedded instrumentation.

Embracing predictive analytics with model-based testing and performance prediction. Enterprise integration through data collection, open innovative platforms and enterprise mobility. Internet of Things with end-to-end consulting solutions, connectivity, data analysis and assistance in governance. Smart factory enabling industrial measurement digitization throughout the supply chain and single smart software solutions for inspection and guidance.

“Wearable devices are replacing traditional electronic devices across industry verticals due to their size, portability, and increased functionalities. A focus on this market will positively impact growth of the embedded instrumentation market,” said Seshagiri.

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