Press release
The demand of electric and hybrid vehicles are expected to increase in future for Microcontroller Market
Microcontroller is an electronic device that is used to control other hardware components of any device. It comprises integrated circuits (ICs), memory chips, and input & output devices. It is widely used in communication, retail, automotive, defense, aerospace, and other industries.
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The increase in demand of multifunctional devices, growth in number of luxury cars with advanced electronic systems, and advancement in technological devices with touch screens and virtual reality have propelled the growth of microcontroller market.
Market Players in Value Chain:
• Renesas Electronic Corporation
• Microchip Technology Inc.
• NXP Semiconductor N.V.
• Texas Instrument Incorporated
• STMicroelectronics
• Infineon Technologies AG
• Fujitsu Semiconductor Limited
• Cypress Semiconductor Corporation
• ARM Ltd.
• Panasonic Corporation
In 2015, 8-bit microcontroller held over 35% market sharethe largest in terms of revenue. It is frequently used in electronic devices such as remote controls, switches, toys, and in sensors for data such as temperature. However, 32-bit microcontroller is anticipated to grow at a faster CAGR of 8.6% during the forecast period.
By application, the automotive segment held over 31% revenue share and dominated the microcontroller market in 2015. This was attributed to the surge in demand for automotive devices and the rise in the living standards and disposable income of individuals.
MICROCONTROLLER MARKET SEGMENTATION
The market is segmented based on type, application, and geography.
BY TYPE
• 8-Bit
• 16-Bit
• 32-Bit
BY APPLICATION
• Industrial
• Consumer Goods
• Automotive
• Communication
• Computers
By geography, Asia-Pacific dominated the global microcontroller market with over 39% share in overall revenue; followed by Europe, North America, and LAMEA. Furthermore, it is anticipated to grow at the highest CAGR of 8.6% during the forecast period.
According to Komal Sharma, Research Analyst, Semiconductor & Electronics at AMR, Global microcontroller market growth is primarily supplemented by the increase in number of applications that incorporate microcontrollers. Moreover, rise of artificial intelligence, increase in automation, and other technological developments indicate that this market awaits immense growth opportunities.
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