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Microcontroller Market Is Growing at a CAGR of 6.9% During 2018 – 2022; Microcontroller Market Opportunities and Demand by 2022

09-28-2018 08:33 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Microcontroller Market Is Growing at a CAGR of 6.9% During 2018

The global microcontroller market is expected to grow at a CAGR of 6.9% forecast to 2022. Among the various bit sizes, the 32-bit segment held the largest share in the global microcontroller market. The rapidly developing automobile industry and surge in the smart grid projects is expected to be one of the primary factors driving the demand for microcontrollers during the forecast period. Majority of the programmable microcontrollers that are used presently are embedded in other consumer products or machinery including mobile phones, automobiles, household appliances and peripherals for computer systems. Owing to this, a microcontroller is sometimes also coined as embedded controller.

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Microcontrollers have myriad of applications, on account of its premium features. However, there are different types of microcontrollers to meet the requirements of a specific application. Since cost is an important factor while manufacturing, it is only coherent to pick the most economical device that goes with the application’s needs. Consequently, microcontrollers are usually tailored for specific applications. Globally, the automotive industry has been witnessing a period of moderately strong growth as well as profitability. The annual sales have surpassed prerecession levels in some of the economies.

The ongoing technological advancements including vehicle connectivity, interactive safety systems and finally self-driving cars will change the global scenario in the near future. The automobiles though mechanical to its soul, will go digital world over the forecast period, thus leveraging the characteristics of microcontroller. This will drive the demand for microcontrollers during the forecast period.

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Some of the key companies operating in the global microcontroller market include Texas Instruments Incorporated, Microchip Technology Inc., Silicon Laboratories, Intel Corporation, Renesas Electronics Corporation, Maxim Integrated, Fairchild Semiconductor, STMicroelectronics, Analog Devices Inc. and Samsung Semiconductor.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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