New York, May 24, 2023 (GLOBE NEWSWIRE) -- As per Persistence Market Research (PMR), the global microcontrollers, DSP, & IP core chip market revenue totaled US$ 47.5 billion in 2022. From 2022 to 2032, global sales of microcontrollers, DSPs, & IP core chips are likely to rise at 6.0% CAGR. By 2032, total market value is projected to reach US$ 85 billion.
Demand for microcontrollers, DSPs, & IP core chips is anticipated to remain high in consumer electronics sector. The target segment is anticipated to expand at 5.8% from 2022 to 2032. Hence, key manufacturers might need to develop consumer electronic-specific products to gain profits.
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Rising adoption of microcontrollers, DSPs, and IP core chips in IoT and automotive globally is projected to expand the market.
Microcontrollers, DSPs, and IP core chips are critical components in IoT (Internet of Things) device development. Hence, rapid growth of the Internet of Things (IoT) and increasing number of connected devices is expected to generate high demand for microcontrollers and DSPs. Greater amount of core facilities like being capable of handling data processing, networking, and security functions.
Microcontrollers and DSPs are utilized in IoT devices to process data acquired by sensors. They can use this data to do computations, filter out undesired noise, and communicate the processed data to other sections of the system.
High adoption of IoT devices worldwide due to rapid digitalization is forecast to create lucrative opportunities for microcontroller, DSP, & IP core chip manufacturers.
Increasing adoption of advanced technologies such as advanced driver assistance systems (ADAS) in automotive will open new opportunities for companies. This is due to growing importance of microcontrollers, DSP, and IP core chips in these novel technologies.
Microcontrollers and DSPs are being used to control the engine in modern vehicles. They can change the timing of the fuel injection, optimize combustion, and monitor pollutants.
Further, microcontrollers and DSPs can also be utilized in safety systems including airbags, anti-lock brakes, and traction control. Robust expansion of automotive sector coupled with high adoption of advanced technologies in vehicles is anticipated to boost revenues in the target market.
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Key Takeaways from the Microcontrollers, DSP, & IP Core Chip Market Report:
- Global microcontroller, DSP, & IP core chip sales are projected to soar at 6.0% CAGR through 2032.
- Based on type, microcontrollers segment is expected to thrive at 5.9% CAGR from 2022 to 2032.
- Based on application, consumer electronics segment is forecast to exhibit a CAGR of 5.8% through 2032.
- China microcontrollers, DSP, & IP core chip market value is set to reach US$ 22.4 billion by 2032.
- Microcontroller, DSP, & IP core chip demand in Korea is likely to rise at 6.4% CAGR through 2032.
- The United States microcontrollers, DSP, & IP core chip industry is expected to cross a valuation of US$ 11.9 billion by 2032.
- Japan market value is projected to reach US$ 13.8 billion by the end of 2032.
“Rapid penetration of IoT devices globally is expected to create high demand for microcontrollers, DSPs, and IP core chips. Hence, key players are likely to benefit from expanding their product portfolios through new product launches.” - says a Persistence Market Research (PMR) lead analyst
Who is Winning?
Infineon Technologies AG, Intel Corporation, ARM Holdings PLC, Xilinx Inc., Analog Devices Inc., Renesas Electronics Corporation, Cadence Design Systems, CEVA Inc., Panasonic Corporation, NXP Semiconductors, Maxim Integrated Products Inc., Texas Instruments Inc., and STMicroelectronics N.V. are few of the leading microcontroller, DSP, and IP core chip manufacturers profiled in the report.
The market players are investing heavily in expanding their portfolios and increasing their customer base. They are also focusing on new product launches, mergers, partnerships, agreements, and strengthening distribution networks to gain a competitive edge in the market.
Recent Developments:
- In June 2022, the new MCX portfolio of microcontrollers was introduced by NXP Semiconductors. The new microcontrollers are designed to advance innovation in smart homes, smart cities, smart factories and across various emerging IoT applications.
More Insights Available:
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the microcontrollers, DSP, & IP core chip market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals growth projections in microcontrollers, DSP, & IP core chip market based on type (microcontrollers, DSP, & IP core chip) and application (automotive & transportation, consumer electronics, medical & healthcare, communication, & industrial) across various regions.
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About the Semiconductor and Electronics Division at Persistence Market Research (PMR)
Persistence Market Research's (PMR) highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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