The global microcontroller market size is predicted to attain USD 47.74 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 10.8% over the forecast period, owing to the increasing focus on automation and Artificial Intelligence (AI) across various verticals such as automotive and industrial. Globally, more than 30 billion Microcontroller Units (MUCs) were shipped in 2019. Increasing demand for embedded control systems in multifunctional devices, such as vehicles, robots, medical devices, mobile radio, and residential appliances, is also playing a principal role in driving the market. The growing use of consumer electronics in day to day lives is anticipated to drive the need devices with higher performance and greater functionalities. Microcontrollers would play a crucial role in the development of such devices leading to the market growth.
Rising need for agility and flexibility in the industrial ecosystem due to the reducing product lifecycles is expected to further spur the demand for MCUs. The consumer electronics segment has also witnessed a significant growth owing to innovative technological developments such as wireless sensing and connectivity, automation, along with the emergence of Internet of Things (IoT) ecosystems in homes. Many market players are developing products with state-of-the-art architecture to make them compatible with such devices. Miniaturization of microcontrollers and the delivery of high performance with extremely low power usage are some of the key advantages offered by some of the new microcontroller units.
Rising demand for devices supporting Ethernet and IoT is also expected to impact the demand for microcontrollers over the forecast period favorably. The demand for MCUs integrated with wireless interfaces, such as ZigBee, microcontrollers, and Bluetooth, has witnessed a considerable rise. Furthermore, the rising need for wireless sensor-based networks for the controlling and monitoring of systems has enhanced the interest of companies in implementing a combination of low-cost systems. Increasing focus on the implementation of energy-efficient solutions for both discrete and process industries is anticipated to propel sustainable manufacturing in industrial automation for a more efficient process. Flexible production and asset management would also influence the factory integration, offering high potential for automation and customized solutions among industrial applications.
Further key findings from the study suggest:
- The 32-bit microcontroller is anticipated to emerge as the fastest-growing product segment over the forecast period, owing to its ability to offer high computational power. Technological developments in the production of semi-autonomous and fully autonomous driving systems also require 32-bit microcontrollers, thus driving the growth of the product segment
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Based on the application, the market is segmented into automotive, consumer electronics, industrial, medical devices, and military and defense. The automotive segment dominated the market in terms of revenue in 2019. This application sector is expected to have a significant growth owing to the Advanced Driver Assistance System (ADAS). ADAS technology uses image sensors to improve driver safety by offering features such as lane departure warning, parking assistance, and collision avoidance systems. The stringent regulatory norms targeted at improving road safety for drivers and pedestrians are expected to further propel the growth.
- North America is expected to maintain its dominance over the forecast period. The use of microcontrollers for smart energy management and photovoltaic systems is expected to be the significant factor contributing to the regional growth
- Asia Pacific microcontroller market is anticipated to witness substantial growth over the forecast period, owing to the rapidly growing consumer electronics sectors, as well as the presence of major market players, such as Yamaichi Electronics Co., Ltd and Fujitsu Semiconductor Limited
- Factors such as the Brexit and U.S.-China trade war have led to declining market conditions. New American tariffs on Chinese goods and slowdown in the Chinese economy are the major factors affecting the steady growth of the market
- Key market players include Infineon Technologies AG; Microchip Technology Inc.; NXP Semiconductor; Renesas Electronics Corporation; STMicroelectronics; and Texas Instruments Incorporated
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Global Microcontroller Market is estimated to be valued at USD 26.9 billion by 2020, as per a new research report by Hexa Research.
Growing demand in key application areas such as automotive, consumer electronics and healthcare are expected to boost industry growth over the forecast period.
Proliferation of smart grid systems is expected to drive microcontroller market growth over the forecast period.
Browse Details of Report @ https://www.hexaresearch.com/research-report/microcontroller-industry/32-bit microcontroller was the leading product segment, with revenues reported at USD 6,658.1 million in 2013.
In addition, it is embedded in higher processing capabilities devices which are also spurring the demand for this product segment.
16-bit microcontroller was analyzed to be the second largest product segment and accounted for over 31% of the total revenue in 2013, growing at an estimated CAGR of 7.1% from 2014 to 2020.
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Microcontrollers will garner multiplying demand on the back of versatile applications in various end-use industries.
The global microcontroller market is set to grow at a double digit growth rate of 10% over the forecast period (2019-2029).
Growth can be attributed to increasing applications of automation in consumer electronics, automotive, military & defense, and industrial processes.
Organizations and consumers alike are experiencing a shift of technology from handheld devices to smart devices that solve problems without human interaction.
On the back of these factors market players will witness an exponential increase in demand between 2019 and 2029.The microcontroller market analysis report outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions.
The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.
The Semiconductor Micro Components Market research report includes specific segments by region (country), by manufacturers, by Type and by Application.
Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027.
Understanding the segments helps in identifying the importance of different factors that aid the market growthDownload FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-semiconductor-micro-components-2021-691Segment by TypeSiliconGermaniumGaAsOtherSegment by ApplicationMicroprocessorMicrocontrollerDigital Signal Processing (DSP)OtherBy CompanyAMDTexas InstrumentsAnalog DevicesIntelQualcomm TechnologiesSamsung SemiconductorFujitsu SemiconductorProduction by RegionNorth AmericaEuropeChinaJapanSouth KoreaConsumption by RegionNorth AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGet the Complete Report & TOC @ https://www.grandresearchstore.com/semiconductor-and-electronics/global-semiconductor-micro-components-2021-691Table of content1 Semiconductor Micro Components Market Overview1.1 Product Overview and Scope of Semiconductor Micro Components1.2 Semiconductor Micro Components Segment by Type1.2.1 Global Semiconductor Micro Components Market Size Growth Rate Analysis by Type 2021 VS 20271.2.2 Silicon1.2.3 Germanium1.2.4 GaAs1.2.5 Other1.3 Semiconductor Micro Components Segment by Application1.3.1 Global Semiconductor Micro Components Consumption Comparison by Application: 2016 VS 2021 VS 20271.3.2 Microprocessor1.3.3 Microcontroller1.3.4 Digital Signal Processing (DSP)1.3.5 Other1.4 Global Market Growth Prospects1.4.1 Global Semiconductor Micro Components Revenue Estimates and Forecasts (2016-2027)1.4.2 Global Semiconductor Micro Components Production Estimates and Forecasts (2016-2027)1.5 Global Semiconductor Micro Components Market by Region1.5.1 Global Semiconductor Micro Components Market Size Estimates and Forecasts by Region: 2016 VS 2021 VS 20271.5.2 North America Semiconductor Micro Components Estimates and Forecasts (2016-2027)1.5.3 Europe Semiconductor Micro Components Estimates and Forecasts (2016-2027)1.5.5 China Semiconductor Micro Components Estimates and Forecasts (2016-2027)1.5.5 Japan Semiconductor Micro Components Estimates and Forecasts (2016-2027)1.5.6 South Korea SemiconductorIf You Have Any Question Related To This Report Contact Us @ https://www.grandresearchstore.com/enquire-now/global-semiconductor-micro-components-2021-691CONTACT US:276 5th Avenue, New York, NY 10001, United StatesInternational: +1(646)-781-7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store
