Global market for embedded instrumentation grows
Frost & Sullivan forecasts market revenues to reach $110.3-million in 2023: Growth opportunities for providers offering flexible, versatile, cloud-enabled, and connected test solutions that are easily upgradable
The embedded instrumentation market is witnessing double-digit growth due to increased demand from the automotive and telecommunication industries and the miniaturization and complexities of electronic devices, according to a recent report from Frost & Sullivan.
The report results show market revenues are expected to reach $110.3-million in 2023, growing at a CAGR of 13.1% from 2016 to 2023. This is creating new growth opportunities for providers embracing technological advancements and offering flexible, versatile, cloud-enabled, and connected test solutions that are easily upgradable.
“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,” said Aravind Seshagiri, research manager for industrials at Frost & Sullivan. “In the future, the Internet of Things and Industry 4.0 will create huge market opportunities for embedded instrumentation.”