Report Code: A00194 | Pages: 226 | Jul 2020 | 24082 Views | ||
Author(s) : Avinash S, Divyanshi T, & K | Tables: 84 | Charts: 87 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Microcontroller Market
Request Now !The global microcontroller market size was valued at $16.49 billion in 2019 and is expected to reach $42.19 billion by 2027, growing at a CAGR of 11.50% from 2020 to 2027.
Microcontroller is a type of processor on a single integrated circuit, containing memory, processor, and input /output peripheral. They are installed in automatically controlled products and electronic devices such as remote controls, office machinery, home appliances, power tools, toys, and other embedded systems. Technology used in microcontroller ensures smooth management of electronic devices and prevents error occurrence activities. As a result of benefits mentioned above, microcontrollers are expected to gain popularity among communication, retail, automotive, and other industries. In addition, consumer goods, growth in the automotive market, and increase in adoption of new technologies such as touch screen and timer among others contribute to growth of the microcontroller industry.
A microcontroller is used to control a fail-safe system, manage electrical control unit functions, and automotive fault tolerant systems, where it informs the error that occurs in a vehicle (accelerator, anti-lock brake interface, and broken lights). For instance, it highlights fault tolerance, if a vehicle loses its grip on snow filled roads. Under such conditions, the incident is sensed by sensor microcontrollers, which then activate the anti-clock braking when a driver hits brakes. Hence, microcontroller is a fundamental part of the automotive industry. The automotive industry has registered significant growth in the last decade, owing to rise in income level and standard of living.
Factors such as rapid developments and innovations in the automotive sector, owing to high adoption of internet of things (IoT) are responsible for recent developments in the automotive industry. In addition increase in trend of working through automated machinery and equipment, surge in scope of electronic products, and technology upgradation propels the demand for development of new products and solutions. Various industry verticals such as automobiles, smartphones, and healthcare aid the microcontroller market growth by incorporating touch-sensing capabilities in designs. Many microcontroller manufacturers are investing a good amount of share in developments and setting applications to enhance product accessibility. However, the major restraint for the market is its operational failures in extreme climatic conditions such as extreme cold and extreme heat. In such conditions the consumer needs to shift to mechanical devices. The demand for electric and hybrid vehicles is expected to increase in the future and untapped geographical regions are expected to provide several opportunities for microcontroller market to grow globally.
The global microcontroller market is analyzed by product type, application, and region. By product type, it is fragmented into 8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller. By application, it is categorized into automotive, consumer electronics, industrial, medical devices, military & defense, and others.
By region, the global microcontroller market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest share in 2019, owing to adoption of IoT across several applications such as smart appliances, industrial automation, home automation, smart grids, and smart cities. North America was the second largest contributor, in terms of revenue, and is expected to witness significant growth during the forecast period, owing to growth in portable electronic systems such as personal computers, tablets, and smartphones have contributed to the microcontroller market growth significantly.
The most prominent factors that drive the microcontroller market growth are rapid developments and innovations in the automotive sector; increase in trend of working through automated machinery and equipment, surge in scope of electronic products, and technology upgradation propels the demand for development of new products and solutions. However, operational failures in extreme climatic conditions is anticipated to hamper growth of the market. Moreover, high demand for electric and hybrid vehicles are expected to offer lucrative opportunities for growth of the microcontroller industry in future.
Competitive analysis and profiles of the major microcontroller market players, such as Analog Devices, Inc., Panasonic Corporation, Microchip Technology Inc., Renesas Electronics Corporation, NXP Semiconductor, STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments Incorporated, and Zilog, Inc. are provided in this report. Market players have adopted various strategies such as product launch, collaboration, business expansion, product expansion, partnership, and acquisition to expand their foothold in the microcontroller industry.
Global microcontroller market has been significantly impacted by the covid-19 outbreak. The new projects throughout the world have stalled which in turn have the significant demand in the several industries including automotive, consumer electronics, industrial, medical devices, military & defense, and others.
The COVID-19 has been impacted severely on the globally automotive and consumer electronics. The symptoms include a large scale manufacturing interruptions across Europe, disruption in Chinese parts exports, and the closure of assembly plants in the U.S., which may hinder the market for microcontrollers.
Key Benefits For Stakeholders
Microcontroller Market Report Highlights
Aspects | Details |
---|---|
By Application |
|
By Product Type |
|
By Region |
|
Key Market Players | STMicroelectronics N.V., Microchip Technology Inc., Silicon Laboratories, Zilog, Inc., NXP Semiconductor, PANASONIC CORPORATION, Analog Devices, Inc., Infineon Technologies AG, RENESAS ELECTRONICS CORPORATION, TEXAS INSTRUMENTS INCORPORATED |
Loading Table Of Content...
According to the insights of CXOs of leading companies, there are rapid developments and innovations in the automotive sector. Increase in trend toward the automated machinery and equipment is expected to boost the market growth. In addition, consumer goods, growth in the automotive market, and increase in adoption of new technologies such as touch screen and timer among others contribute to the market growth. Broadening scope of electronic products and technology upgradation raises the demand for development of new products and solutions, which, in turn, is expected to create growth opportunities for the microcontroller market.
However, operational failures in extreme climatic conditions are the factors anticipated to hamper growth of the market. Moreover, high demand for electric and hybrid vehicles is expected to offer lucrative opportunities for growth of the microcontroller market in future
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Expansion and acquisition are expected to be the prominent strategies adopted by market players. Major microcontroller market players, such as Analog Devices, Inc., Panasonic Corporation, Microchip Technology Inc., Renesas Electronics Corporation, NXP Semiconductor, STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments Incorporated, and Zilog, Inc. are provided in this report.
Start reading instantly.
This Report and over 54,961+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers