Pune India, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive microcontrollers market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive microcontrollers market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product, material, end-user and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global automotive microcontrollers market are STMicroelectronics, Microchip Technology, Maxim Integrated, Renesas Electronics, Cypress Semiconductors, Rohm Semiconductor, Analog Devices, Toshiba, NXP Semiconductors, Analog Devices, Inc., On Semiconductor, Infineon Technologies among others. To achieve a substantial market share in the worldwide automotive microcontrollers market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In the automotive industry, a microcontroller controls everything from lighting to the steering wheel, and it plays an important role in the battery management process. In vehicles, automotive microcontrollers improve safety features such as airbag control and temperature control, and they increase the speed of execution. The microcontroller ensures smooth control of automotive devices and prevents the occurrence of errors. The shift from diesel cars to electric vehicles, accompanied by the increasing modernization of automobiles, has catalyzed the growth of microcontrollers in emerging markets. Increasingly more hybrid electric vehicles are being developed because they are more productive and vitality-saving than conventional cars. They also require more microcontrollers than conventional cars, resulting in an increase in automotive microcontroller manufacturing. The auto industry utilizes microcontrollers to automatically control components such as exhaust systems and fuel consumption. Microcontrollers are widely used in the automatic vehicle industry for applications such as remote controls, automobile audio systems, engine control, operating systems and discrete chip applications. Moreover, automotive microcontroller vendors are investing more in R&D due to growing demand among end users, creating new opportunities for the industry. Furthermore, with safety concerns rising and government support for developing advanced driving systems in commercial vehicles, microcontrollers are expected to be increasingly used in commercial vehicles.
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Scope of Automotive Microcontrollers Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Vehicle Type, Application, Technology, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | STMicroelectronics, Microchip Technology, Maxim Integrated, Renesas Electronics, Cypress Semiconductors, Rohm Semiconductor, Analog Devices, Toshiba, NXP Semiconductors, Analog Devices, Inc., On Semiconductor, Infineon Technologies among others |
Segmentation Analysis
Passenger cars are expected to be the fastest-growing segment in 2022.
The vehicle type segment includes electric vehicles types, passenger cars and commercial vehicles. The passenger cars segment is expected to witness the highest growth rate during the forecast period. Growing demand for better and more efficient vehicles equipped with advanced components is expected to keep the passenger vehicle segment growing at the fastest rate in the market. The development of advanced driving systems for vehicles, along with support from governments, contribute to the growth of this segment.
Powertrains & chassis are expected to be the fastest-growing segment in 2022.
The application segment includes infotainment & telematics, powertrains & chassis, body electronics and safety & security systems. The powertrains & chassis segment is expected to witness the highest growth rate during the forecast period. Over the next five years, the powertrain & chassis segment is expected to grow by 6.2% CAGR. The saving in fuel consumption of vehicles is one of the reasons why automotive microcontrollers are gaining traction in powertrains and chassis.
Adaptive cruise control is expected to be the fastest-growing segment in 2022.
The technology segment includes blind spot detection, park assist system, tire pressure monitoring system, and adaptive cruise control. The adaptive cruise control segment is expected to witness the highest growth rate during the forecast period. In adaptive cruise control, a vehicle's speed is automatically adjusted based on the response of the vehicle in front, boosting the demand for adaptive cruise control which is contributing to the growth of the market.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for skull deformity implants include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. As Asia's economy continues to prosper and disposable income rises, the market for automotive microcontrollers is expected to grow. As demand for safety and security features rises, safety measures by governments in developing countries such as India and China are likely to drive demand for automotive microcontrollers.
Country Analysis
- Germany
Germany's automotive microcontrollers market size was valued at USD 1.8 billion in 2022 and is expected to reach USD 3.21 billion by 2030, at a CAGR of 7.5% from 2023 to 2030.
Due to the presence of high-end electronics and safety features in most vehicles, the country's market is growing at a steady rate. In addition to supportive laws and affordable vehicles, the use of safety systems in cars increases safety and comfort, contributing to the market's growth.
- China
China’s automotive microcontrollers market size was valued at USD 2.03 billion in 2022 and is expected to reach USD 3.70 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.
China is expected to increase its export value of chassis fitted with engines on an annual basis, which will increase the demand for microcontrollers in the country. Further, Chinese customers' high demand for greater connectivity in cars forces automakers to upgrade their Chinese models ahead of the other major players.
- India
India's automotive microcontrollers market size was valued at USD 1.56 billion in 2022 and is expected to reach USD 2.80 billion by 2030, at a CAGR of 7.6% from 2023 to 2030.
Automotive microcontrollers will experience faster growth in the country, as microcontrollers enhance safety and security measures and facilitate transportation, as a result of which the demand for automotive microcontrollers will keep on rising in the country during the forecast period.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to increase safety and reduced human error, which is a common occurrence in manual operations., propelling the growth of the market across the countries.
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