Correction: Microcontroller Market is Estimated to account for USD 18.5 Billion By 2022, at a CAGR Of 9.8% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, The APAC microcontroller market brought in about 40.0% of the revenue in 2022, and it will grow at a CAGR of more than 10.2% during the forecast period.
Farmington, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The Global Microcontroller Market Size Was Valued At USD 18.5 Billion In 2022 And Is Expected To Expand at a CAGR Of 9.8% From 2022 To 2030. More than 29 billion microcontrollers were shipped around the world in the year 2021. Most of the time, microcontrollers are used in devices where the user needs to have a lot of control. The price of the product is low because there is more competition on the market, which will increase the need for microcontrollers. People are becoming more aware of smart energy management because of smart grids. This is likely to increase the demand for MCUs. The COVID-19 pandemic has had a big impact on the industries around the world that make semiconductors.
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In January 2021: Toshiba Electronic Devices & Storage Corporation introduced 5 new groups of TXZ+ family advanced class microcontrollers. The M4K, M4M, M4G, and M4N groups are based on Arm Cortex-M4 core, and the M3H group is based on the Arm Cortex-M3 core. These MCUs are suitable for several applications, such as connected IoT devices, motor control, leading-edge sensing functionalities, etc.
In September 2021: STMicroelectronics announced new software packs and tools namely STM32 ecosystem extensions kick-start development with STM32U5 extreme low-power microcontrollers for mass market applications.
By Product Type Insights
A forecast says that from 2022 to 2029, 32-bit microcontrollers will have the largest share of the market and the highest CAGR. This is because they have a higher level of functional capabilities that are useful for advanced Internet of Things applications, equipment for Industry 4.0, small medical devices that can be implanted, and so on.
The 16-bit MCUs market share is the second largest. This is because electric or hybrid cars, lighting devices, and other things need more and more automotive modules. The biggest players in the market are likely to make more WIFI and Bluetooth microcontrollers, which are most useful in the automotive, consumer electronics, and medical industries.
Also, the CAGR for 8-bit MCUs is expected to stay the same over the period of the forecast. This is because these MCUs are easy to programme and can be used in places where less power is needed.
In the next few years, the auto industry is expected to have the highest growth rate and the biggest share of the microcontroller market. This is because the industry prefers to use advanced technology to get the most out of the embedded systems used to make automotive parts and to establish a position of technological superiority around the world. On the other hand, working from home is becoming more and more common in both developed and developing economies. This means that people all over the world need more consumer electronics.
The medical devices segment is expected to have a high CAGR over the next few years. This is because the MCU is a key part of digitally filtering and processing the patient's condition and displaying the parametric results of physiological data like heart rate, blood pressure, blood oxygen, lungs capacity, and many more. As with the industrial sector, manufacturing industries in developing countries in Asia, the Pacific, the Middle East, and Africa are focusing on switching to automated equipment and machines that make the manufacturing process easier, speed up production, and meet consumer needs.
The APAC microcontroller market brought in about 40.0% of the revenue in 2021, and it will grow at a CAGR of more than 10.2% during the forecast period. This is because the number of cars sold is growing quickly, and the number of people who want high-end consumer electronics is also growing. APAC's market growth is also helped by the growing number of start-ups in developing countries like China and India that offer essential microcontroller solutions and new add-on products and services like entertainment and GPS navigation systems.
Also, the demand for microcontrollers in a variety of applications in the region is driven by things like rising disposable income, the release of more technologically advanced gadgets, and the falling prices of consumer electronics.
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Scope of Report:
CAGR of 9.8% from 2023 to 2030.
Revenue Forecast by 2022
USD 18.5 Billion
By Product Type
8-Bit, 16-Bit, 32-Bit, Others
Networking & Communications, Automotive, Consumer Electronics, Industrial, Medical Devices, Military & Defense, Other
TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Texas Instruments Incorporated (U.S.), Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Intel (U.S.), Infineon Technologies AG (Germany), Maxim Integrated (Analog Devices) (U.S.), ON Semiconductor (U.S.), ROHM CO., LTD. (Japan), Zilog, Inc. (U.S.)
Regions and Countries Covered
2017 to 2022
2023 to 2030
Rising Demand for Advanced Driver Assistance System:
Most ADAS uses, like self-driving cars, require microcontroller units (MCUs). Processors need to be faster and use less power for ADAS to get better. This can be done with multicore architectures, higher frequencies, and lower power needs, all of which are also used in monitoring, barracking, and safety applications. For example, the NVIDIA DRIVE PX platform uses AURIX multicore microcontrollers to meet the ISO 26262 ASIL-D standard, which is the highest functional safety standard for self-driving systems. AURIX microcontrollers are important for ADAS and AD to work on the road because they have lock-step cores, redundant peripherals, integrated monitoring systems, and real-time performance of up to 1,800 DMIPS based on Infineon's TriCore multicore architecture. In the coming years, applications for self-driving cars will use the AURIX multicore microcontroller families.
Since the microcontroller is small, it is used in devices that are also small. Microcontrollers can only do one operation or task at a time, so they can't use devices that can do more than one thing at once. Microcontrollers can't be reprogrammed and don't have zero flags like microprocessors, which is their biggest problem.
Key Segments Covered:
Top Market Players:
TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Texas Instruments Incorporated (U.S.), Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Intel (U.S.), Infineon Technologies AG (Germany), Maxim Integrated (Analog Devices) (U.S.), ON Semiconductor (U.S.), ROHM CO., LTD. (Japan), Zilog, Inc. (U.S.), and others.
By Product Type
Networking & Communications
Military & Defense
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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