Microcontroller Market to be dominated by Automotive Segment at a CAGR of 7.7%- Says Maximize Market Research

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Jul 24, 2024, 10:15 ET

PUNE, India, July 24, 2024 /PRNewswire/ -- According to Maximize Market Research "Microcontroller Market" report by Product (8 Bit, 16 Bit, 32 Bit), and Application (Networking and communication, Automotive, Consumer Electronics, Industrial, Medical devices, Military and defense, Other) is expected to reach 59.68 Billion by 2030 from 35.51 Billion in 2023 at a CAGR of 7.7%. The requirement for customized solutions, widespread cloud usage, and the growing need for improved digital user experiences are some of the innovations in technology driving the microcontroller industry.

Global Microcontroller Market 2023-2030: Key Highlights:

Market Size in 2023	USD 35.51 Billion
Market Size in 2030	USD 59.68 Billion
CAGR	7.7 %
Forecast Period	2024-2030
Base Year	2023
Number of Pages	229
No. of Tables	135
No. of Charts and Figures	193
Segment Covered	By Product and Application
Regional Scope	North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage	Market Share, Size, and Forecast by Revenue \| 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

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Key Player Offerings

Infineon Technologies has introduced a new line of microcontrollers called PSoC Edge. These chips are designed to power intelligent devices with advanced features like machine learning, improved user interfaces, and strong security. They are ideal for a variety of applications, including smart homes, wearables, and industrial robotics. With built-in AI capabilities and energy efficiency, PSoC Edge aims to help developers create more responsive and intuitive products.
Microchip launched SAMD21RT, a microcontroller designed specifically for space applications. This chip is tiny (10mm x 10mm) and powerful (up to 48 MHz) making it ideal for space-constrained satellites. It can handle harsh environments with extreme temperatures (-40°C to 125°C) and high radiation levels. Additionally, the SAMD21RT is compatible with existing Microchip products, simplifying the design process for engineers. This new chip is a great option for building equipment for space exploration.

Microcontroller Market Segmentation

By Product Type

8 Bit
16 Bit
32 Bit

By Application

Networking and communication
Automotive
Consumer electronic
Industrial
Medical devices
Military and defense
Others

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Detailed segmentation values for each segment and explanations for growth are provided in the final report.

The 16-Bit Segment to Dominate the Microcontroller Market during the Forecast Period

The 16-bit segment is expected to dominate the global microcontroller market during the forecast period due to the combination of its cost-effectiveness and balanced performance. For effective engine management and pollution control, the automotive industry incorporates 16-bit microcontrollers in Electronic Control Units (ECUs). 16-bit microcontrollers improve the accuracy and effectiveness of control systems in manufacturing processes, which also aids industrial automation. Leading companies like Texas Instruments and Microchip Technology are working in innovation to fulfill the increasing need for these components. For instance, Microchip's PIC24 series and Texas Instruments' MSP430 family are two well-known 16-bit microcontroller families that provide strong performance and low power consumption. The 16-bit segment is expected to grow further with the number of IoT connections to reach 25.4 billion by 2030, highlighting the growing importance of IoT and connectivity.

The Consumer Electronics Segment to grow fastest during the forecast period

Microcontrollers are a vital component in many consumer electronics, including wearables, game consoles, tablets, smartphones, and smart home appliances. For instance, the demand for microcontrollers is increasing due to the growing popularity of smart home devices like security cameras, voice-activated assistants, and thermostats. In 2023, more than 105 million smart speakers were shipped globally, reflecting the rising demand. Fitness trackers and smartwatches dominated the wearables market, which is another important industry sector with shipments exceeding 490 million units in 2022 where microcontrollers are extensively used. With more than 2 billion global subscribers estimated for 5G by 2024, the technological adoption is driving up demand for increasingly complex microcontrollers that can manage greater speeds and connection needs. The usage of efficient microcontrollers is required by the trend toward miniaturization and energy efficiency in consumer electronics, which promotes innovation and widens the market.

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Asia Pacific Region is expected to dominate the Microcontroller Market during the forecast period

China manufactures more than 60% of the world's microcontrollers benefiting from a firmly established semiconductor sector and a vast supply chain infrastructure. The substantial expenditure on R&D accounting for approximately USD 458 billion in 2023 and about 2.62% of GDP demonstrates its commitment to innovation. Electric vehicles (EVs) accounted for 37% of China's new car market in 2023, highlighting the necessity for advanced microcontrollers to operate complex automotive systems. Additionally, India's microcontroller market is witnessing a significant growth trajectory with the successful development and production of India's first indigenously designed microprocessor chip by Mindgrove Technologies. The chip, targeting the IoT market, demonstrates India's capability to compete globally in chip design and manufacturing.

Competitive Landscape

The Microcontroller Market companies include significant key players like Microchip Technology Inc. (USA), Texas Instruments (USA), Silicon Labs (USA), Samsung Semiconductor (South Korea), Toshiba Electronic Devices & Storage Corporation (Japan), ROHM Semiconductor (Japan), MediaTek Inc. (Taiwan), and Infineon Technologies (Germany) among others.

Browse for Related Reports:

Microcontroller Embedded Systems Market: The market is expected to grow at a CAGR of 7.28% during the forecast period and is expected to reach US$ 9.36 Bn. by 2030.

Global Secure Microcontroller Market: The market size was valued at USD 3.23 Bn. in 2023 and the total Secure Microcontroller revenue is expected to grow by 7.93% from 2024 to 2030, reaching nearly USD 5.52 Bn.

Internet of Things Microcontroller Market: The market size was valued at USD 5.37 Billion in 2023 and the total Internet of Things Microcontroller revenue is expected to grow at a CAGR of 12.05 % from 2024 to 2030, reaching nearly USD 13.36 Billion by 2030.

Ultra-low-power Microcontroller Market: The market size was valued at US$ 5.59 Bn.in 2023 and the total revenue is expected to grow at 9.00% from 2024 to 2030, reaching nearly US$ 10.22 Bn.

Automotive Microcontrollers Market: The market is expected to reach US$ 22.93 Bn. by 2030, at a CAGR of 8.2% during the forecast period.

Global PC Processor Market: The market size was valued at USD 115 Billion in 2023 and the total PC Processor revenue is expected to grow at a CAGR of 4.5% from 2024 to 2030, reaching nearly USD 120.18 Billion by 2030.

Embedded Processors Market: The market was valued at USD 29.63 Bn in 2023 and is expected to reach USD 48.65 Bn by 2030, at a CAGR of 7.34 % during a forecast period.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

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