Global Microcontroller Market by Application (Medical Devices, Automotive, Consumer Electronics & Telecommunication), by Product (16-bit, 8-bit, 32-bit) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2020, the global microcontroller market was worth USD 17.79 billion. The market is expected to grow at a 10.1% compound annual growth rate (CAGR), between 2021 and 2028. In 2020, there were more than 28 million microcontrollers sold worldwide. Most microcontrollers are used in devices that require high levels of control. Microcontroller demand is expected to rise due to increased competition in the market. MCU demand is expected to rise further due to increasing awareness about smart energy management and the emergence smart grids. The global COVID-19 pandemic had a significant impact on the semiconductor manufacturing industry. In 2020, overall market revenues have declined significantly due to a fall in exports and production of microcontrollers from countries like China, Germany and the U.S.

As COVID-19 is being eradicated in many countries, including the U.K. and Germany, manufacturing plants have been allowed to operate at reduced capacity. Microcontroller adoption is expected to rise significantly due to the increasing demand for 5G network equipment and servers as well as electric and self-driving vehicles (EV), applications. This will, in turn, boost overall market growth over forecast years.

The key factor driving market growth is the growing demand from the global medical sector. Coronavirus cases are increasing, as well as the rise in the number of people over 65 and the occurrences of other diseases like diabetes and high blood pressure. Electronic medical devices are needed to monitor oxygen levels, temperature and blood pressure. The cost of medical devices can be decreased by microcontrollers. They also provide precise information and readings of patients. Medical equipment manufacturers are seeing a significant increase in demand for microcontrollers.

Many devices use microcontrollers. These include consumer electronics, automotive, industrial, telecommunications and healthcare. A rise in luxury cars using advanced microcontrollers is driving the automotive industry. The market for electric vehicles is growing rapidly, which will further increase product demand. The automotive sector will play a significant role in the expansion of the global microcontroller industry between 2021 and 2028. The global slowdown in vehicle sales and production can impact the growth. Microcontrollers are primarily used in automotive applications.

The growth is expected to be driven by increasing awareness of smart energy management and technological advances. Smart grid is a combination of digital communication and electrical network to allow remote control. Smart grids use smart meters to communicate. Microcontrollers are used to ensure communication between physical locations. Smart meter installations in smart grid initiatives are expected drive the market.

The market has seen a rise in demand for Internet of Things MCUs. This growing network of connected devices includes smartphones, tablets, TVs, tablets and home appliances. It also includes smart meters, security systems, smart meters, gaming consoles, smart meters, and televisions. The demand for IoT MCUs has been growing rapidly due to the ever-growing number of connected devices. The product's prices have fallen due to increased competition, which will fuel product demand. Market growth will be driven by the declining average selling price and high demand in major application areas over the forecast period.

Product Insights

With a 48.80% share in 2020, the 16-bit segment was the dominant market segment in terms of revenue. These MCUs are increasingly being used in automotive applications, and the rapidly falling average selling price. This is why this market share is so high. The 8-bit technology reduces product design time and lowers material costs. The processors are selected based on their processing capabilities, interfacing requirements, and power consumption. The 8-bit Microcontroller Unit is a microcontroller with a low gate count and software simplicity. This makes it more affordable than other types.

Due to its specific technology requirements, the automotive industry uses large quantities of 16-bit and 32 bit MCUs. From 2021 to 2028, the 32-bit segment will grow at the highest rate of CAGR. 32-bit MCUs are more powerful than their counterparts, and use less power. The decreasing price of 32-bit MCUs is expected to increase their popularity. The 8-bit MCU will experience slower growth due to its processing speed of 8 MHz. It does not have significant internal Random-Access Memory (RAM).

Application Insights

The automotive segment was the dominant market share in terms of revenue with 30.13% of the total in 2020. The increasing demand for MCUs is due to the increased demand for safety and convenience features in cars, as well as government regulations on emissions control. The Advanced Driver Assistance System (ADAS) is expected to drive significant growth in this application sector. ADAS technology employs image sensors to increase driver safety. It offers features like lane departure warning, parking assist, and collision avoidance system. It is expected that the strict regulatory standards to improve road safety for pedestrians and drivers will continue to propel this growth.

In terms of CAGR, the consumer electronics and telecom applications segment will lead the market from 2021 through 2028. This is due to the shrinking of consumer electronics and increasing use of consumer electronic products like cameras, washing machines, and microwave ovens. Due to a variety of factors, the medical market will see an increase in demand for microcontrollers during the forecast period. These factors include high accuracy in medical procedures, technological advances, government support for automated medical procedures, and increased R&D investments to develop MCUs for advanced medical equipment.

Regional Insights

With a 38.31% share in 2020, North America was the dominant market. This is due to the large consumer base in the region for smartphones and tablets. There is also a rising penetration of IoT ecosystems within homes and workplaces throughout the region. This has resulted in a rise in demand for smart electric gadgets, smart wearables and sensors, as well as other IoT-enabled products, which will drive regional market growth over the forecast period.

The presence of major European automotive and equipment producers is the main driver of the market in Europe. The presence of luxury car manufacturers such as BMW, Mercedes-Benz and Porsche in Europe drives the demand for microcontrollers to be used for automotive applications. The Asia Pacific region market will see a significant increase in revenue share between 2021 and 2028. This is due to the rapid growth of start-up businesses in developing countries like India, which offer essential microcontroller services. They also provide innovative add-on products and services such as insurance, GPS navigation, entertainment systems, and other services.

Market Share Insights & Key Companies

In 2020, the market share of the top five players was more than 50%. These players are active in partnerships and collaborations to develop new products. Renesas Electronics Corporation, in collaboration with ALTRAN (an engineering and R&D service provider) developed a wristwatch that uses Ultra-Wideband technology to provide social distancing. The wristwatch integrates with the Renesas Synergy S128MCU, which has HMI capacitive touch and licensed secure-ranging UWB technology. The following are some of the major players in the global microcontroller market:

• Infineon Technologies AG

• Microchip Technology Inc.

• NXP Semiconductor

• Renesas Electronics Corporation

• STMicroelectronics

• Texas Instruments Incorporated

Up Market Research published a new report titled “Microcontroller Market research report which is segmented by Application (Medical Devices, Automotive, Consumer Electronics & Telecommunication), by Product (16-bit, 8-bit, 32-bit), By Players/Companies Infineon Technologies AG, Microchip Technology Inc, Renesas Electronics Corporation, Texas Instruments Incorporated, NXP Semiconductor, STMicroelectronics”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Microcontroller Market Report Segments:

The market is segmented by Application (Medical Devices, Automotive, Consumer Electronics & Telecommunication), by Product (16-bit, 8-bit, 32-bit).

Microcontroller Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Microcontroller Market

Overview of the regional outlook of the Microcontroller Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Microcontroller Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Microcontroller Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Medical Devices

                2. Automotive

                3. Consumer Electronics & Telecommunication

                1. 16-bit

                2. 8-bit

                3. 32-bit

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Microcontroller Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Microcontroller Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.