NEW YORK, Sept. 13, 2018 (GLOBE NEWSWIRE) -- The market is expected to witness a CAGR of 17.2%, and is projected to reach USD 2,636.9 Million by 2023. Factors propelling the growth of automotive microcontroller market include increase in technological advancement, increased in production of electric vehicles, installation of enhanced safety features and practices saving power & space and to bring down fuel consumption.
The report segments automotive microcontrollers market by technology (start stop system, parking assistance system, brake control system, airbags, tyre pressure monitoring system, others), by material (tinned steel, copper alloy, nickel-cobalt ferrous alloy), by bit size (8-Bit Microcontrollers, 16-Bit Microcontrollers, 32-Bit Microcontrollers), by connectivity (vehicle to vehicle, vehicle to cloud, vehicle to infrastructure), by vehicle type (passenger vehicles, commercial vehicles), by electric vehicles (battery electric vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles, home charging units), by application (safety and security, body electronics, telematics), by region (North America, Europe, Asia-Pacific, South America, Rest of the world). The report studies the global automotive microcontrollers market over the forecast period (2017-2023).
Automotive microcontrollers are a self-contained system consist of processor, memory and peripherals and is used as an embedded system. The system uses an integrated chip which is used to control the functions in automobiles. Microcontrollers are used in the system that are small and consist of least component design. The uses in automobiles include remote control system, operating system and automobile audio system.
Key findings of the Global Automotive Microcontrollers Market
- The development in electric vehicles and application of the microcontrollers drives the growth of the automotive microcontrollers market
- The key players are keen to invest in the software that is required to increase the functionality of automobiles
- Geographically, Asia-Pacific is expected to grow at the significant rate during the forecast period. The growth of the market in the region is governed to the increasing demand for technological advanced cars
- Moreover, the mandatory implementation of safety regulation has led to rapid growth of automotive microcontrollers in Asia-Pacific region
- Some of the leading players in the global automotive microcontrollers market include Microchip Technology Inc., NXP Semiconductors, Renesas Electronics Corporation, Rohm Semiconductors, Texas Instruments Incorporated, Toshiba Corporation, Maxim Integrated, Infineon Technologies AG, Cypress Semiconductor Corporation, Analog Devices, among others
Automotive Microcontrollers- Solution to Automotive Safety for the Consumers
The increasing demand for comfort, safety and fuel economic vehicles drives the automakers to introduce microcontrollers. These new functions require local intelligence that can only be optimized by the use of powerful microcontrollers. Microcontrollers ensure robust functionality in harsh environment. Intense competition among automakers drives them to seek innovative solution to differentiate their vehicles without compromising safety and cost. Microcontrollers in automobiles are present in large equipment to small devices and are used to manage air conditioners, power windows, braking, headlights, and steering. Microcontroller’s adaptability and flexibility provide high performance and low power consumptions and brings a revolutionary change in all aspect of automobile industry.
Browse full research report with TOC on “Global Automotive Microcontrollers Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023” at: https://www.energiasmarketresearch.com/global-automotive-microcontrollers-market-outlook/
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Automotive Microcontrollers- Regional Insight
The North America is expected to have a steady growth during the forecast period. The moderate growth of microcontrollers in North America is attributed to the popularity of microcontrollers among the automobiles manufacturers. Moreover, majority of the automobile companies have already started installing microcontrollers.
Asia-Pacific offers a lucrative market during the forecast period. High growth in Asia-Pacific region is due to technological advancement and the need for safe and economic vehicle. Moreover, the introduction of driving assistance technology creates an opportunity for using microcontrollers in this region.
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