Pune, India, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The global microcontroller market size is projected to grow from USD 30.63 billion in 2021 to USD 51.13 billion in 2028 at a CAGR of 7.6% in the forecast period. Fortune Business Insights™ published this information in its recent report, titled “Microcontroller Market Forecast, 2021-2028.” As per the report, the market size was USD 29.06 billion in 2020.
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Key Industry Developments:
September 2021: Renesas launched ultra-low power, 32-bit RX140 group of microcontrollers (MCUs), with 30% better power efficiency for home and industrial applications.
According to the analysis, the market will gain traction from the growing automotive applications, consumer electronics and medical devices. In the midst of the COVID-19 pandemic, the demand for microcontroller units (MCUs) will see a considerate rise.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2020 to 2027 CAGR | 7.6% |
| 2028 Value Projection | USD 51.13 Billion |
| Base Year | 2020 |
| Microcontroller Market Size in 2020 | USD 29.06 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Product Type, Application and Geography |
Prevailing COVID-19 Challenges for Automakers Dent the Business Outlook
The COVID-19 pandemic has notably influenced the industry forecast, with industry and automotive sectors witnessing significant disruptions. Several watchdogs have reported a dip in automotive sales during the pandemic. According to the National Association of Automobile Manufacturers of South Africa (NAAMSA), the automotive industry in the country is observing a plunge in sales. Moreover, Germany, France, Italy and Spain have also grappled with the outbreak.
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Drivers and Restraints:
Bullish Demand for Portable Medical Devices to Foster the Growth Potentials
With the demand for medical equipment for OEMs (original equipment manufacturers) soaring, portable devices will potentially gain prominence. MCUs will be sought in manufacturing portable instruments to provide longer battery life with high performance. Stakeholders predict smart wearables to gain ground in the medical sector.
Meanwhile, the lack of a strong framework for protecting intellectual property rights (IPRs) may be the bottleneck towards robust industry growth.
Highlights of the report:
- Detailed individual and collective study of all the market segments;
- Thorough analysis of the factors driving and retarding market growth;
- Comprehensive assessment of the regional developments influencing the market; and
- In-depth profiling and examination of the key market players and their dominant strategies.
Segmentation:
In terms of product type, the global Microcontroller Market is segregated into 16-bit microcontroller, 8-bit microcontroller and 32-bit microcontroller.
Based on application, the market is segmented into automotive, networking & communication, medical devices, consumer electronics, industrial and military & defense.
With respect to region, North America, Asia Pacific, Europe, Middle East and Africa, and South America are included in the report.
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Regional Analysis
Asia Pacific to Spearhead Market Growth with Availability of Raw Materials
Asia Pacific Microcontroller Market share will witness an appreciable gain and is on course to account for the highest CAGR during the forecast period. The easy availability of raw materials, along with flourishing living standards, will underpin the regional growth. Asia Pacific Microcontroller Market size was valued at around USD 13.63 billion in 2020 and will grow on the back of investments in automated cars and advanced technology.
Industry players are expected to up their investments in Europe following the growth of bioengineering, biomedical and metallurgical sectors. Automakers will continue to bolster their portfolios across France, Germany and Italy. Prominently, investments in the automotive and medical device sectors will augur well for the Europe Microcontroller Market growth.
North America will contribute a significant share towards the global market due to the presence of leading companies in the U.S. and Canada. Stakeholders will cash in on the flourishing semiconductor research and development activities. So much so that leading company are expected to expand their penetration across untapped areas.
Competitive Landscape
Industry Participants to Invest in Product Launches to Gain a Competitive Edge
The competitive landscape of the market indicates leading companies could emphasize organic and inorganic strategies, including product launches, technological advancements, mergers & acquisitions and R&D activities.
List of Key Companies operating in the Microcontroller Market are:
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- Texas Instruments Incorporated (U.S.)
- Microchip Technology Inc. (U.S.)
- Renesas Electronics Corporation (Japan)
- STMicroelectronics (Switzerland)
- NXP Semiconductors (Netherlands)
- Intel (U.S.)
- Infineon Technologies AG (Germany)
- Maxim Integrated (Analog Devices)
- ON Semiconductor
- ROHM CO., LTD. (Japan)
- Zilog, Inc. (U.S.)
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Major Table of Contents:
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
- Annexure / Appendix
- Global Microcontroller Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- 8-Bit
- 16-Bit
- 32-Bit
- By Application (USD Bn)
- Networking & Communications
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices
- Military & Defense
- By Region (USD Bn)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- By Product Type (USD Bn)
- North America Microcontroller Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- 8-Bit
- 16-Bit
- 32-Bit
- By Application (USD Bn)
- Networking & Communications
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices
- Military & Defense
- By Country (USD Bn)
- United States
- Canada
- Mexico
- By Product Type (USD Bn)
- Europe Microcontroller Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Bn)
- 8-Bit
- 16-Bit
- 32-Bit
- By Application (USD Bn)
- Networking & Communications
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices
- Military & Defense
- By Country (USD Bn)
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- By Product Type (USD Bn)
- Global Microcontroller Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
FAQs
How big is the microcontroller industry?
The microcontroller market size was USD 29.06 billion in 2020
How fast is the microcontroller market growing?
The microcontroller market will exhibit a CAGR of 7.6% during the forecast period, 2021-2028
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