Press release
Accelerating Growth in the Global Automotive Microcontrollers Market: Projections, Key Players, and Emerging Trends
Automotive Microcontrollers Market Size
What Is The Projected Market Size Of The Global Automotive Microcontrollers Market And Its Growth Rate?
The global automotive microcontrollers market demonstrates robust growth:
• 2024 Market Size: $15.77 billion
• 2025 Market Size: $17.25 billion (9.3% CAGR)
• 2029 Market Size: $24.49 billion (9.2% CAGR)
The rise in disposable income, merger and acquisition activity, emerging markets, and increasing population growth drive the historic period. A growing demand for driverless vehicles, commercial vehicles, and supportive government regulations fuel the forecast period.
What Is Driving The Growth In The Automotive Microcontrollers Market?
The increasing demand for driverless vehicles propels the growth of the automotive microcontrollers market. Autonomous vehicles leverage a fully automated driving system, which allows the vehicle to respond to external conditions without human intervention. Multicore microcontroller families are being developed to support these applications. According to the Insurance Institute for Highway Safety, there is an expectation for 3.5 million autonomous vehicles to be on American roads by 2025, which will grow to 4.5 million by 2030. This growing demand will substantially drive the automotive microcontrollers market.
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Who Are the Key Players Driving Automotive Microcontrollers Market Growth?
Key stakeholders in the automotive microcontrollers market include:
• STMicroelectronics N.V.
• Infineon Technologies AG
• Renesas Electronics Corporation
• Microchip Technology Inc.
• NXP Semiconductors N.V.
• Texas Instruments Incorporated
• Toshiba Corporation
• ROHM Semiconductor
• Analog Devices Inc.
And many more.
What Are The Key Trends In The Automotive Microcontrollers Market?
The automotive microcontrollers market is shaped by the following trends:
• Focus on technological advancement
• Strategic partnerships
• Product innovations
• Use of microcontrollers in electric vehicles
• Adoption of microchips to improve vehicle flexibility
What Are The Segments Of The Global Automotive Microcontrollers Market?
The global automotive microcontrollers market is categorized by:
1) Type: 8 Bit, 16 Bit, 32 Bit
2) Vehicle Type: Passenger ICE Vehicle, Commercial ICE Vehicle, Electric Vehicle
3) Connectivity: Vehicle To Vehicle (V2V) Connectivity, Vehicle To Infrastructure (V2I) Connectivity, Vehicle To Cloud (V2C) Connectivity
4) Technology: Adaptive Cruise Control, Park Assist System, Blind Spot Detection, Tire Pressure Monitoring System
5) Application Type: Powertrain and Chassis, Body Electronics, Safety And Security Systems, Infotainment And Telematics
Which Region Leads The Automotive Microcontrollers Market?
Asia-Pacific was the largest and fastest-growing market for automotive microcontrollers in 2024. The other regions covered in the automotive microcontrollers market report are Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Microcontrollers Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Microcontrollers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Microcontrollers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Microcontrollers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Microcontrollers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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