San Francisco, Oct. 21, 2015 (GLOBE NEWSWIRE) -- Global Microcontroller Market is estimated to be valued at USD 26.9 billion by 2020, as per a new research report by Radiant Insights, Inc. Growing demand in key application areas such as automotive, consumer electronics and healthcare is expected to boost industry growth over the forecast period. Price reduction and quality enhancement may be achieved with the increasing deployment in healthcare industry. Moreover, increasing consumer awareness regarding energy efficient hybrid electric vehicles is likely to favor growth prospects.
Proliferation of smart grid systems is expected to drive microcontroller market growth over the forecast period. These systems consist of digital communication and remote control facility, which in turn increases the demand of microcontrollers globally. However, economic slowdown in the industry is likely to pose challenges to industry participants.
32 bit microcontroller was the leading product segment, with revenues reported at USD 6,658.1 million in 2013. Reduction in unit prices is responsible for the increase in demand. 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.
The report “Microcontroller Market Size, Share, Analysis Report 2020” is available now to Radiant Insights customers and can also be purchased directly at
http://www.radiantinsights.com/research/microcontroller-market
Key report insights suggest:
- Global microcontroller unit shipments were estimated at 17,393.6 million units in 2013 and are expected to register 39,108.5 million units by 2020, growing at an estimated CAGR of 12.3% from 2014 to 2020.
- Asia Pacific microcontroller market dominated the regional demand with an estimated market share of 38.2% in 2013. It is also expected to be the fastest growing region, growing at a CAGR of 7.8% from 2014 to 2020. Increasing adoption of microcontrollers across various application segments including HVAC, energy, and mobile phones is expected to drive the regional demand.
- Automotive industry dominated the demand with an estimated market share of 33.8% in 2013. This industry is also expected to be the fastest growing application segment, growing at a CAGR of 13% from 2014 to 2020. Increasing acceptance of electric and hybrid vehicles utilizing microcontrollers is expected to boost the market growth.
- The microcontroller industry is moderately consolidated which consist of MNCs and local manufactures present are different levels in value chain. Key companies include Renesas Electronics, Samsung, Fujitsu, STMicroelectronics, Texas Instruments, Freescale Semiconductor and Infineon Technologies among others.
For the purpose of this study, Radiant Insights has segmented the microcontroller market on the basis of product, application and region:
Global Microcontroller Product Overview (Volume, Million Units; Revenue, USD Million, 2012 - 2020)
- 4/8-bit
- 16-bit
- 32-bit
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Global Microcontroller Application Overview (Volume, Million Units; Revenue, USD Million, 2012 - 2020)
- Automotive
- Consumer Electronics
- Industrial
Global Microcontroller Region Overview (Volume, Million Units; Revenue, USD Million, 2012 - 2020)
- North America
- Europe Middle East and Africa (EMEA)
- Asia Pacific
- Latin America
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About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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