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Automotive Microcontrollers Market 2020 In-Depth Analysis of Industry Growth Trends & Forecast to 2025
Automotive Microcontrollers Market
Passenger cars is projected to have largest automotive microcontrollers market share in 2024 owing to rising implementation of safety features in developed countries have incentivized the auto makers to produce cars equipped with advanced technologies.
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Wide range of applications are served by the advanced semiconductors thereby boosting the automotive microcontrollers industry size. The major applications include collision warning, telematics, navigation, engine control, tire pressure warning, ADAS, and many others. Growth of autonomous vehicles will support the growth of automotive microcontrollers market.
Price sensitivity of the product may lead to increase in the total costs as a vehicle employs several electronic circuits to serve multiple functionality. Right choice of electronics is very important which may help the designers in reducing the cost. Looking upon technical features of the product, cost pressure can be balanced. High cost of the product may pose threat to the automotive microcontrollers industry growth.
Vehicle manufacturers will purchase the electronic components frequently in the near future to install in the connected cars, electric vehicles, and autonomous cars and will gain momentum with additional features. Integrated units like multiple MCUs along with sensors and MEMS will ensure redundancy and increase reliability. The industry has growth opportunities in the forecast time frame.
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Automotive microcontrollers market players include Texas Instruments, STMicroelectronics, Infineon Technologies AG, ON Semiconductor Corp., Maxim Integrated Products, Renesas Electronics Corp., NXP Semiconductors N.V., and Toshiba Corp. Manufacturers are involved in developing long term relationship with the auto makers to increase its sales and sustain in the competition.
Automotive microcontrollers market has witnessed immense competition owing to presence of several players. For instance, Intel, BMW, Mobileye collaborated to develop autonomous test vehicles. Similarly, Audi’s collaboration with NVIDIA develops innovative features in its vehicles.
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