Computer Engineering Market Overview
Computer Engineering Market Size was valued at USD 2481.12 Billion in 2022. The Computer Engineering market industry is projected to grow from USD 2605.26 Billion in 2023 to USD 3849.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period (2023 - 2032).Constant improvements in computer technology, such as quicker processors and better memory and the growing usage of IoT devices are the key market drivers fueling the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Computer Engineering Market Trends
Increasing threat of cyber-attacks is driving the market growth
Market CAGR for Computer Engineering is being driven by a rise in cyber-attacks. The need for sophisticated and strong cybersecurity measures has increased in the current technological environment due to the increasing frequency and sophistication of cyberattacks. In order to strengthen the security of sensitive data and vital systems, computer engineering solutions must constantly innovate due to the persistent evolution of malicious tactics. Resilient cybersecurity infrastructure is becoming more and more necessary as businesses depend more on cloud services, IoT devices, and networked systems. This covers the creation of proactive threat detection systems, encryption technologies, and secure hardware and software solutions. It has become essential to computer engineering practice to address cybersecurity issues in order to prevent illegal access, data breaches, and possible disruptions to digital ecosystems.
Green computing is becoming more and more popular as businesses emphasize energy efficiency and sustainability in their computing operations. Businesses are actively looking for eco-friendly solutions as a result of increased awareness of the effects on the environment, which is driving innovation in power-efficient computer engineering. This change includes the creation of hardware that is energy-efficient, the optimization of software to use less power, and the use of renewable energy sources in data centers. The goal of green computing fosters a commitment to reducing carbon footprints and building a more sustainable and environmentally conscious computing landscape. It also addresses the broader environmental challenges associated with the rapid expansion of digital technologies.
The demand for powerful computing solutions is being fueled by the increasing integration of AI and ML in a variety of applications, including data analytics, autonomous systems, and smart devices. For instance, the adoption of AI has accelerated over the last two years, as reported by 53% of IT companies in 2022. Artificial Intelligence is present in 77% of devices in use today. Chatbot technology is used by 25% of travel and hospitality businesses. 64% of entrepreneurs predict AI will increase output. Within the next three years, it is anticipated that AI technology will boost the banking sector's revenue by $1 billion. As a result, in the projection period demand for Computer Engineering will increase due to the rising adoption of AI. Thus, driving the Computer Engineering market revenue.
Computer Engineering Market Segment Insights
Computer Engineering Application Insights
The Computer Engineering market segmentation, based on Application includes Automotive, Communication System, Industrial, Medicine, Consumer Computer Equipment, and Others. The Automotive Industry segment dominated the market accounting for 33% of the market revenue (818.8 billion). This is due to there is a growing need for sophisticated electronic systems in cars that perform safety, connectivity, and navigational purposes.
Figure : COMPUTER ENGINEERING MARKET SHARE BY APPLICATION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Computer Engineering Product Type Insights
The Computer Engineering market segmentation, based on Product Type includes Personal Computer, Supercomputers, Mobile Computer Hardware, Server Computer Hardware, Built-in Computer, Microelectronic Components, and Others. The Personal Computer segment dominated the market, accounting for more than half of market revenue. This is because of the demand for personal computers and the general use of consumers' devices.
Computer Engineering Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Computer Engineering market area will dominate this market. This is due to the existence of biodiverse cultures and the rise in industrial automation. Rising worries about greenhouse gas emissions and developing battery technologies are expected to drive the regional market in North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: COMPUTER ENGINEERING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Computer Engineering market accounts for the second-largest market share due to a strong ecosystem that promotes innovation and research as well as rising demand for cutting-edge technological solutions. Further, the German Computer Engineering market held the largest market share, and the UK Computer Engineering market was the fastest-growing market in the European region
The Asia-Pacific Computer Engineering Market is expected to grow at the fastest CAGR from 2023 to 2032. The increased government spending on growing the manufacturing sector and increasing the capacity of renewable energy generation is the reason for this growth. The industry demand is probably going to be driven by the increasing automation of industrial equipment. Moreover, China’s Computer Engineering market held the largest market share, and the Indian Computer Engineering market was the fastest growing market in the Asia-Pacific region.
Computer Engineering Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines including personal computer, supercomputers, mobile computer hardware, server computer hardware, built-in computer, microelectronic components, which will help the Computer Engineering market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Computer Engineering industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Computer Engineering industry to benefit clients and increase the market sector. In recent years, the Computer Engineering industry has offered some of the most significant advantages to Consumers. Major players in the Computer Engineering market, including Advantest Corporation, Advint (Advanced Integration), Ansys, ARM Holdings, Astronics Corporation, Autodesk, Averna Technologies, Cadence Design Systems, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.
Advantest Corporation is the Leading the world in the development and production of cutting-edge semiconductor test tools. The company, which has its headquarters in Tokyo, Japan, has made a name for itself in the semiconductor sector by offering state-of-the-art methods for measuring and testing integrated circuits. Since its founding in 1954, Advantest has established a solid reputation for technological know-how and innovation, providing a wide range of products to meet the changing demands of the semiconductor industry. Microprocessors, memory modules, and other integrated circuits necessary for computing devices are examples of semiconductor components. In June 2023, Arizona State University (ASU) and leading semiconductor test equipment provider Advantest Corporation announced their partnership with multinational semiconductor manufacturer NXP® Semiconductors to develop a brand-new, "first-of-its-kind" test engineering course at ASU.
Leading American multinational technology company Intel Corporation specializes in designing and producing semiconductor chips and related products for a variety of computing and communication devices. Originally established in 1968, Intel is a major player in the technology sector, offering processors for embedded systems, mobile devices, servers, and personal computers. The company also works in fields like internet of things (IoT), driverless cars, and artificial intelligence. In May 2022, Intel unveiled developments in silicon, software, and services, demonstrating how it combines ecosystem technologies to unlock business value for clients both now and in the future. Improved business outcomes and insights, a lower total cost of ownership, a quicker time to market and value, and a positive worldwide impact are a few of the advantages that are highlighted in real-world examples.
Key Companies in the Computer Engineering market include
-
Advantest Corporation
-
Advint (Advanced Integration)
-
Ansys
-
ARM Holdings
-
Astronics Corporation
-
Autodesk
-
Averna Technologies
-
Cadence Design Systems
-
Marvell
-
Cobham
-
Cypressmiconductor Corporation
-
Dassault Systemes
-
Future Technology Devices International (FTDI Chip)
-
Infineon Technologies
-
Intel Corporation
Computer Engineering Industry Developments
March 2023: CaeTek, Altair Engineering Inc.'s Finnish channel partner, has expanded into Norway. CaeTek has expanded its services to include Norway. Previously, CaeTek supplied Altair technology to Finland, Denmark, Iceland, and the Baltic region. cDynamics, a Norwegian consulting firm that specializes in Altair's software, especially in structural and hydrodynamics simulation for the maritime and telecommunication industries, provides support to CaeTek's Norwegian division.
February 2023: Microsoft and Ansys Inc. expanded their long-standing strategic alliance to hasten virtual product design. In order to improve the design process, this partnership involves extending the cloud-based availability of Ansys Inc.'s simulation solutions and computer-aided engineering (CAE) tools.
Computer Engineering Market Segmentation
Computer Engineering Product Type Outlook
Computer Engineering Application Outlook
Computer Engineering Regional Outlook
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 2481.2Billion |
| Market Size 2023 |
USD 2605.26 Billion |
| Market Size 2032 |
USD 3849.15 Billion |
| Compound Annual Growth Rate (CAGR) |
5% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, Application, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Advantest Corporation, Advint (Advanced Integration), Ansys, ARM Holdings, Astronics Corporation, Autodesk, Averna Technologies, Cadence Design Systems, Marvell, Cobham, Cypressmiconductor Corporation, Dassault Systemes, Future Technology Devices International (FTDI Chip), Infineon Technologies, Intel Corporation. |
| Key Market Opportunities |
In order to safeguard data and systems, more advanced and secure computer engineering solutions are constantly required due to the growing threat of cyberattacks. |
| Key Market Dynamics |
Increasing adoption of IoT providing convenient access to a wide range of Computer Engineering options |
Frequently Asked Questions (FAQ) :
The global Computer Engineering market size was valued at USD 2481.2 Billion in 2022.
The global market is projected to grow at a CAGR of 5% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Advantest Corporation, Advint (Advanced Integration), Ansys, ARM Holdings, Astronics Corporation, Autodesk, Averna Technologies, and Cadence Design Systems.
The Personal Computer category dominated the market in 2022.
The Automotive had the largest share in the global market.
