San Francisco, 08 July 2019 - The global microcontroller market is anticipated to reach USD 35.29 billion by 2025, exhibiting a CAGR of 9.2% over the forecast period, according to a new study by Grand View Research, Inc. Increasing demand for embedded control systems in multifunctional devices such as vehicles, robots, medical devices, mobile radio, residential appliances among other microcontrollers, is playing a principal role in the growth of the market.
Growing use of consumer electronics by people on a daily basis is anticipated to drive the need devices with higher performance and greater functionalities. Microcontrollers would play a crucial role in the development of such devices leading to the growth of the market.
Rising need for agility and flexibility in the industrial ecosystem due to the reducing product lifecycles is expected to further spur the growth. The consumer electronics segment has also witnessed a significant growth owing to innovative technological developments. Furthermore, many independent players in the market are developing tools and applications that support the microcontroller architecture owing to its advantages.
Miniaturization of microcontrollers and the delivery of high performance with extremely low power usage are some of the key advantages of using the device. The increased demand for devices supporting Ethernet and Internet of Things (IoT) is also expected to favorably impact the demand for microcontrollers over the next six years. The demand for microcontroller chips integrated with wireless interfaces, such as ZigBee, microcontrollers and Bluetooth, has witnessed a huge rise. Furthermore, rising need for wireless sensor-based networks for the controlling and monitoring of systems has enhanced the interest of companies in implementing a combination of low-cost systems.
Increasing focus on the implementation of energy-efficient solutions for both discrete and process industries is anticipated to propel sustainable manufacturing in industry automation for a more efficient process. Flexible manufacturing and asset management would also influence the factory integration, offering high potential for automation and customized solutions among industrial applications.
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Further key findings from the study suggest:
- The 32-bit microcontroller is expected to emerge as the fastest growing product segment over the forecast period, owing to its ability to offer high computational power. Technological developments in production of semi-autonomous and fully-autonomous driving systems also require 32-bit microcontrollers, thus driving the growth
- Automotive segment is expected to remain the dominant application segment over the forecast period. Increasing consumer demand for enhanced safety features, convenience functions, and entertainment systems, along with government regulations on emission control are driving the segment growth
- North America is expected to remain one of the key over the forecast period. The use of microcontrollers for smart energy management and photovoltaic systems is expected to be the major factor contributing to the regional growth
- Asia Pacific microcontroller market is anticipated to witness significant growth over the forecast period, owing to the increasing growth of automotive and consumer electronics sectors
- Key market players include Renesas Electronics Corporation; NXP Semiconductor; Microchip Technology Inc.; STMicroelectronics; Infineon Technologies AG; and Texas Instruments
Grand View Research has segmented the global microcontroller market on the basis of product, application, and region:
Microcontroller Product Outlook (Revenue, USD Billion, 2015 - 2025)
- 8-bit
- 16-bit
- 32-bit
Microcontroller Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Automotive
- Powertrain & Chassis
- Safety & Security
- Body Electronics
- Telematics & Infotainment
- Consumer Electronics
- Industrial
- Medical Devices
- Military & Defense
Microcontroller Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa (MEA)
Browse Press Release of this Report: https://www.grandviewresearch.com/press-release/global-microcontroller-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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