The global microcontroller market is expected to grow at a CAGR of around 8.3% from 2020 to 2027 and expected to reach the market value of around US$ 20.2 Bn by 2027.
A microcontroller is a single-chip microcomputer made using VLSI fabrication. A microcontroller is also referred to as an embedded controller. Currently, several types of microcontrollers with varying word lengths are available on the market, including 4bit, 8bit, 64bit, and 128bit microcontrollers. A microcontroller is a compressed micro computer designed to control the functions of embedded systems in office machines, robots, home appliances, automobiles, and a variety of other devices. Furthermore, a microcontroller includes components such as memory, peripherals, and, most importantly, a processor. Furthermore, microcontrollers are used in devices that require a degree of control to be applied by the device's user.
Rising adoption of electric vehicles propel the growth of global microcontroller market
Since the advancements in battery technology have been slow when compared to advancements in the power electronic area, the disadvantage of EV short range remains. With such technological limitations, the electric vehicle (EV) appears to be a viable alternative to the internal combustion engine (ICE) automobile today. The use of a microcontroller in this research is gaining popularity due to the microcontroller's ability to produce designs that control signals with flexibility. Furthermore, the microcontroller performs mathematical and logical functions that enable it to simulate logic and electronic circuits. Furthermore, microcontrollers can be used because they provide flexibility that hardwired control components do not. Aside from that, the microcontroller is essential in the development of the ECU of a typical subsystem or module in an EV. The type of microcontroller used in an EV is typically determined by the type of subsystem or module. For example, it uses a PIC18F2680 microcontroller in its subsystem or module allowing easy replication and adaptation to all subsystems, resulting in a homogeneous network with a simplified deployment and management.
Microcontrollers in medical industry will have 100% gains in the global market
According to ACM research, an ageing population combined with dietary and lifestyle choices results in a demand for portable, wearable, and implantable medical devices that enable chronic disease management and wellness assessment. Microcontrollers offer the ideal balance of programmability, cost, performance, and power consumption for such medical devices. Furthermore, microcontrollers enable today's medical applications while also enabling future applications with sophisticated signal processing requirements. The design of an embedded microcontroller system chip, for example, has resulted in the first sub-microwatt per channel electroencephalography (EEG) seizure detection. Furthermore, according to IEEE data, many medical devices are built around microprocessor systems, specifically microcontrollers. On the basis of electroencephalography, the issues of increasing and assessing reliability are discussed (EEG). It is proposed that the device's main component—a microcontroller—be duplicated to increase its reliability.
Microcontrollers possess multifaceted applications bolster the growth of global microcontroller market
At the moment, one or more microcomputers control cell phones, alarm clocks, microwaves, ovens, washers, and thermostats. Even small devices, such as TV remote controls, contain a microcontroller. Because all of these electronic devices are controlled by programs that runs on increasingly powerful microprocessors, it is now possible to design products that will follow different instructions and behave differently depending on the user. Because of the incorporation of microcontrollers, the ability to create a much broader range of products for the home, workplace, or public that can adapt to meet user needs is consistently increasing while the cost is decreasing. Today, there is a trend of industrial automation, which is the process of handling various industrial processes automatically with the help of several machines involving computers and robots using microcontrollers and sensors. The incorporation of a microcontroller increases efficiency and productivity while decreasing human effort and labor costs.
The global microcontroller market is segmented as product and application. The product is segmented as 8-bit, 16-bit, and 32-bit. By application, the market is segmented as automotive, consumer electronics & telecommunication, industrial, medical devices, and military & defense.
Based on product, the 16-bit segment is expected to dominate the market during the forecast period. The growing use of MCUs for automotive applications, as well as rapidly decreasing average selling prices, has contributed to the market's dominance. Because of the specific requirements for the technologies, the automotive industry uses 16-bit MCUs on a large scale. Furthermore, the automotive segment is expected to dominate the market in the coming years. This is due to increased demand for MCUs as a result of increased demand for enhanced car safety features, convenience functions, entertainment systems, and government emission control mandates. The automotive industry is also expected to grow significantly as a result of the Advanced Driver Assistance System (ADAS). As image sensors are used in ADAS technology to improve driver safety, features such as lane departure warning, parking assistance, and collision avoidance systems are available. Stringent regulatory standards aimed at improving road safety for drivers and pedestrians are expected to fuel growth even further.
North America will continue to dominate the global microcontroller market in the coming years. This is due to the region's large consumer base for electronic devices such as tablets, smart phones, and other consumer electronics. In addition, IoT systems are widely used in homes and businesses in this region. This has increased consumer demand for smart electronic gadgets such as smart wearable’s, sensors, medical devices, and other IoT enabled devices, which is expected to drive regional market growth in the coming years.
Europe, on the other hand, will have the second largest market share in the global microcontroller market. The presence of major automotive and OEM in this region is one of the factors attributed to the growth of the global microcontroller market.
Furthermore, Asia Pacific is expected to be the fastest growing regional market for the global microcontroller market, with a reasonable CAGR. The high proliferation of start-up business ventures in developing economies, particularly India, that offer essential microcontroller services, combined with innovative add-on services and products involving GPS navigation, insurance, and entertainment systems, are the key factors driving the global microcontroller market's growth.
The major players of the global microcontroller market are Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Texas Instruments Incorporated, Toshiba Corporation, ON Semiconductor, Analog Devices, Inc., and among others
Market By Product
Market By Application
Consumer Electronics & Telecommunication
Military & Defense
Microcontroller market is expected to reach a market value of around US$ 20.2 Bn by 2027.
The microcontroller market is expected to grow at a CAGR of around 8.3% from 2020 to 2027.
Based on product, 16-bit segment is the leading segment in the overall market.
Technological advancement is one of the prominent factors that drive the demand for microcontroller market.
Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Texas Instruments Incorporated, Toshiba Corporation, ON Semiconductor, Analog Devices, Inc., and among others.
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years