Microcontroller Market was valued at USD 17.8 billion in 2021, and growing at a CAGR of 8.9%, and reaching USD 35.2 billion in 2029
The factors driving the growth of Microcontroller Market includes increasing demand for Advanced Driving Assistance Systems (ADAS), rising awareness about smart energy management, expansion of smart grid networks around the world and growing popularity of Electric Vehicles (EV). Moreover, commercialization of 5G technology, technological advancements in microcontrollers, increasing application of microcontrollers in smart wearables, sensors, medical devices and rise in the number of smart cities across the globe, are some of the additional factors supplementing the Microcontroller Market share. In addition, the increasing investments by major companies on research and development, strategic partnerships between key players, rising disposable incomes, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Microcontroller Market is hindered because microcontrollers can’t access multi-tasking devices.
The leading players operating in the market are Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors, Cypress Semiconductor Corporation, FUJITSU SEMICONDUCTOR LIMITED, Texas Instruments Incorporated, Toshiba Electronics Devices & Storage Corporation,Renesas Electronics Corporation, STMicroelectronics and TE Connectivity Ltd., among others.
Based on Type, the 16-bit microcontroller segment is predicted to grow at a robust CAGR during the forecast period
16-bit microcontroller manage big quantity of data and calculations at once, consumes less and power and possess faster clock speed as compared to 8-bit microcontroller, are some of the features responsible for the segment’s growth.
Based on Application, the Automotive segment is projected to expand at a faster CAGR over the forecast period
As per the Microcontroller Market Industry Analysis, increasing application of microcontrollers in convenience features and entertainment systems, in the automobile, is propelling growth of the segment.
Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period
Rising penetration of consumer electronic devices, growing demand for premium automobiles, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the Microcontroller Market share in the North American region.
Key Development
- In 2020, Renesas Electronics Corporation partnered with ALTRAN, an engineering and R&D service provider to develop a social distancing-based wristwatch on Ultra-Wideband technology.
Market Segmentation
Segmentation by Type
- 8-bit microcontroller
- 16-bit microcontroller
- 32-bit microcontroller
. Segmentation by Application
- Automotive
- Consumer Electronics & Telecommunication
- Industrial
- Medical Devices
- Military & Defence
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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