North America Embedded Systems Market Forecast 2022-2030
The North America embedded systems market is estimated to propel with a 4.18% CAGR between the forecasting years 2022 and 2030. Advancing technology, increasing demand for consumer electronics, and growing product innovations and interconnectivity boosts market growth.
The North America embedded systems market growth assessment includes an evaluation of the United States and Canada. The consumer electronics market in Canada is expected to be sluggish during the forecast period, as the majority of consumer electronics categories during the forecast period have high penetration rates, leaving little room for further sales growth.
Furthermore, Canada produces passenger cars, trucks and buses, auto parts and systems, truck bodies and trailers, tires and tool-molding machines (MTDM). As per government reports, the automotive industry employs over 125,000 people in vehicle assembly and parts manufacturing and around 380,000 in sales, service distribution, and aftermarket. The presence of a huge workforce helps the market to advance during the forecast period.
The Canadian automotive sector is expected to remain sluggish over the forecast period. Canada has followed the worldwide decline, with vehicle sales in the first six months of 2019 falling by more than 5%. With Canadians facing higher interest rates and household debt climbing, consumers are steering away from buying cars, which lightens demand at manufacturing plants.
Leading companies driving market growth entail Microchip Technology Inc, Intel Corporation, Hapman, Microchip Technology Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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