Microcontroller Market Set to Soar: Forecasting Rapid Growth from 2020 to 2027

The microcontroller market share in Asia-Pacific is expected to grow at the highest rate during the forecast period. The Asia-Pacific is witnessing high adoption of IoT across several applications such as smart appliances, industrial automation, home automation, smart grids, and smart cities. This growth has subsequently propelled an increase in the utilization of microcontrollers. Allied Market Research, titled, "Microcontroller Market by Product Type and Application: Opportunity Analysis and Industry Forecast, 2020-2027," the global microcontroller market size was $16.49 billion in 2019, and is projected to reach $42.19 billion by 2027 to register a CAGR of 11.50% during the forecast period. Asia-Pacific is expected to be the leading contributor to the global microcontroller market, followed by North America and Europe.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/284

A microcontroller is a small and low-cost microcomputer, designed to perform specific tasks of embedded systems such as displaying microwave information and receiving remote signals. This general microcontroller consists of a processor, memory such as RAM, ROM, EPROM, Serial ports, peripherals including timers, and counters. Based on product type, the microcontroller market is divided into three categories including 8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller.

In addition, based on memory configuration, the microcontroller is divided into external memory microcontroller and embedded memory microcontroller. Microcontrollers are widely used in light sensing & controlling devices such as LED; temperature sensing & controlling devices such as microwave ovens and chimneys; fire detection & safety devices such as fire alarms; and measuring devices such as voltmeters. In addition, microcontrollers are mostly designed for embedded applications and are heavily used in automatically controlled electronic devices such as cell phones, cameras, microwave ovens, and washing machines.

A microcontroller is a compact integrated circuit, which is designed to manage a specific operation in an embedded system. A typical microcontroller includes a processor, memory, and input/output (I/O) peripherals on a single chip. Microcontrollers are widely used in vehicles, robots, office machinery, medical devices, mobile radio transceivers, vending machinery, and home appliances.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/284

Based on product type, the 32-bit microcontroller segment contributed the maximum share, with 30% in 2019, in terms of revenue, to the market. Rise trend of working with machinery and equipment and the growth in demand for automobiles & smartphones provide several opportunities for the 32-bit microcontroller industry. High-speed and affordable costs of the 32-bit MCUs are expected to drive demand for the microcontroller market during the forecast period. It is expected to grow at a faster rate, by 12.5% in comparison to other microcontrollers.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Microcontroller industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐌𝐢𝐜𝐫𝐨𝐜𝐨𝐧𝐭𝐫𝐨𝐥𝐥𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Infineon Technologies AG
Microchip Technology Inc.
Silicon Laboratories
Zilog, Inc.
NXP Semiconductor
RENESAS ELECTRONICS CORPORATION
STMicroelectronics N.V.
TEXAS INSTRUMENTS INCORPORATED
Analog Devices, Inc.
PANASONIC CORPORATION

By application, the automotive segment was the largest contributor of revenue in 2019 and is expected to grow at a CAGR of 14.2% during the forecast period. The rise in the use of numerous microcontrollers in the automobile sector with electronic control units creates microcontroller market growth. Different types of microcontrollers are widely used in the automobile industry such as AVR microcontroller, 8051 microcontroller, and PIC microcontroller. In addition, the consumer electronics vertical was the second largest contributor to the market in 2019. The demand for consumer goods is expected to increase in the future as income level is on the rise and people can afford goods such as washing machines, refrigerators, and micro ovens.

By region, the microcontroller market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that Asia-Pacific contributed to the maximum revenue in 2019. The microcontroller market size in Asia-Pacific is expected to grow at a faster rate as compared to other regions, owing to the rapid adoption of new technologies by end-user industries in countries such as China and India.

The COVID-19 outbreak has already had a huge impact on the consumer electronics sector. Some categories such as computers, washing machines, refrigerators, micro ovens, and peripherals have been impacted as consumers are working from home, leading to a decline in sales.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/284

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- In 2019, by product type, the 32-bit microcontroller segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 12.5% during the forecast period.
- The automotive segment is expected to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North American microcontroller market share, accounting for approximately 82.0% share in 2019.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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