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Computer Engineering Market to Witness Augmented Demand from Automotive and Consumer Computer Equipment Application by 2024

Author : Ronak Bora | Published Date : 2019-04-04 

The computer engineering market growth is being driven by its use in automotive and consumer computer equipment. A significant increase in the number of connected devices is being witnessed owing to the rapid growth of consumer electronics in emerging economies and the burgeoning demand for smartphones and tablets. Major vendors are emphasizing on improving designing, development/manufacturing and testing solutions as key differentiators for the market expansion. The implementation of ATE in several automotive and consumer electronics manufacturing companies is helping in enhancing the product performance capability, the speed of operation, reducing the cost of the devices.

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Semiconductors are being commonly used in the electronic devices such as PCs, smartphones, and tablets, and other smart products. These components can communicate with other devices through a growing network connected through IoT. They are the fundamental enabling technology of modern electronics, as the IoT devices require components such as memory, sensors, and microcontrollers to connect and perform their functions. Growing adoption of semiconductors and penetration of smartphones will propel the computer engineering market growth. The miniaturization of smart devices has further added to the growing demand for test and development solutions across several application areas.

Several component manufacturers operating in the computer engineering market are adopting the miniaturization trend by offering consumers flexible mounting options, smaller sizes, and are integrating multiple functionalities into a single set. This has allowed the semiconductors to be utilized in applications, such as in the healthcare devices for surgical and smart fitness products. The growing demand and awareness of smart fitness products is encouraging several product developers to invest in the R&D to develop advanced products. Vendors are investing massively to manufacture several new miniaturized products for enhancing the user experience. Researchers are focused on developing cost-effective and reliable products which is providing the computer engineering market ample growth opportunities.

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In 2016, Asia Pacific accounted of more than 50% computer engineering market owing to the presence of a large number of semiconductor industries. Several government and industrial bodies in the region are attempting to increase the competitiveness of the electronics manufacturing industry to attract foreign investments and meet the domestic demand. For instance, India’ s attractiveness for electronic manufacturers is growing owing to the presence of low-cost labor. Rise in manufacturing costs in countries such as Taiwan and China are convincing manufacturers to move their manufacturing base to other countries. In 2016, the average manufacturing labor in China was USD 3.5 per hour in comparison to India which was USD 0.9 per hour.

Major players operating in the computer engineering market include Synopsys, Inc., Xilinx, Inc. National Instruments Corporation, STMicroelectronics N.V., Cadence Design Systems, Inc., Intel Corporation, NVIDIA Corporation, Lattice Semiconductor Corporation, and Advantest Corporation, among others.

Delving deeper into the application landscape of computer engineering industry, it is undeniable that the market is expected to witness versatile growth opportunities – chiefly on the cusp of IoT technology that is practically disputing every business vertical. It has been estimated that the economic impact of the IoT is expected to reach a mammoth valuation of over USD 11 trillion by 2025.

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The statistic clearly depicts the vast growth potential for computer engineering market players to bring forth high-end products that would be compatible with the rising IoT influenced trends such as the smartwatches, smart homes, digital healthcare, drones, etc. Taking into consideration these technological interventions, industry experts claim computer engineering market to remain one of the most lucrative investment grounds for potential stakeholders. A presumption validating the same is of a report published by Global Market Insights, Inc., that claims computer engineering market to exceed an enormous valuation of over USD 2.5 trillion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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