Fort Collins, Colorado, Sept. 28, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Microcontroller Market Size, Growth, Share, Statistics Report, By Product Type (8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller), By Application, By Region Forecasts, 2023-2032."
According to DataHorizzon Research, The microcontroller market size was valued at USD 28.8 Billion in 2022 and is expected to have a market size of USD 77.5 Billion by 2032 with a CAGR of 10.5%. A microcontroller is a small computer on a single integrated circuit (IC) that controls specific devices and processes in embedded systems. It contains a CPU (central processing unit), memory, and input/output peripherals, all in a single chip.
Microcontrollers are widely used in devices and appliances that require some level of automation or control, such as household appliances, automotive systems, medical equipment, and industrial machinery. They are programmed to perform specific tasks and execute instructions that control the behavior of the embedded system.
With the popularity of the Internet of Things (IoT), there is a growing need for microcontrollers that provide connectivity and processing power to IoT devices. The increased demand for microcontrollers with integrated wireless connectivity features such as Wi-Fi, Bluetooth, and ZigBee and advancements in IoT technology will create many lucrative opportunities in the following years.
Increasing demand for energy-efficient devices is propelling market growth. With the growing concern for energy efficiency, microcontrollers must consume less power while providing high-performance capabilities. This has increased demand for developing microcontrollers with low-power consumption features, such as sleep mode and low-power peripherals. Besides, the healthcare industry embraces microcontrollers for various applications, such as medical monitoring devices, implantable devices, and drug delivery systems.
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Report Snapshot:
| Report Title | Microcontroller Market |
| Market Size in 2022 | USD 28.8 Billion |
| Market Size by 2032 | USD 77.5 Billion |
| CAGR from 2023 to 2032 | 10.5% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends and Growth Factors |
| By Product Type | 8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller |
| By Application | Automotive, Consumer Electronics, Industrial, Medical Devices, Military & Defense, And Others. |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others |
| Major Market Players | Infineon Technologies AG, NXP Semiconductor, Texas Instruments, On Semiconductor, Toshiba Corporation, Analog Devices, Microchip Technology Inc., Renesas Electronics Corporation, STMicroelectronics, Maxim Integrated, etc. |
Segmentation Overview:
The global microcontroller market has been segmented as product, application, and region. 32-bit microcontrollers hold the largest share with features like low power consumption, high scalability, and higher input/output peripherals compared to other microcontrollers. The rise in the application of microcontrollers in the automotive sector directly affects the automotive industry segment to hold the largest share of the market. With more demand for microcontrollers in electric vehicles, the automotive segment is anticipated to grow quickly.
North America holds the largest microcontroller market share. The early adoption of IoT (Internet of Things) in corporate places and homes and the increasing demand for smart wearables, sensors, smart electricity gadgets, and medical devices propels market growth in North America. Furthermore, the European market is expected to grow steadily due to rising demand for luxury cars and the presence of major automotive and parts manufacturers in the region.
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Microcontroller Market Report Highlights:
- The global microcontroller market growth is anticipated at USD 77.5 billion at a CAGR of 10.5% by 2032.
- The microcontroller market growth drivers include growing demand for compact chipsets and efficient computing devices. Moreover, microcontrollers are widely used in consumer appliances and other industrial machinery for better performance.
- Based on application, the automotive industry accounted for the largest market share in 2022 with market projections to maintain a leading position in the following years.
- 32-bit microcontrollers enjoy a leading position in the global market and are popular for applications in various industries.
- North America is the largest market for microcontrollers. The emergence of IoT and sensor-based technology is anticipated to propel the adoption of microcontrollers for IoT deployment. Asia Pacific is a fast-growing market owing to the presence of technological startups and inclination towards chip technology.
- Some prominent players in the microcontroller market report include Infineon Technologies AG, NXP Semiconductor, Texas Instruments, On Semiconductor, Toshiba Corporation, Analog Devices, Fujitsu Semiconductor Limited, Cypress Semiconductor Corporation, Microchip Technology Inc., Renesas Electronics Corporation, STMicroelectronics, and TE Connectivity Ltd.
Key Developments in the Industry:
- In 2023, the Microchip introduced the PIC 18-Q20 microcontroller that features 14 and 20-pin packages and supports multi-voltage I/O.
- In 2023, Toshiba Software launched new microcontroller sample software for code developers. The software package offers essential drivers and well-defined API examples for on-chip peripherals.
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Microcontroller Market Report Segmentation:
Microcontroller Market, By Product Type (2023-2032)
- 8-bit Microcontroller
- 16-bit Microcontroller
- 32-bit Microcontroller
Microcontroller Market, By Application (2023-2032)
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices
- Military & Defense
- Others
Microcontroller Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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