Press release
Global Automotive Microcontrollers Market Share to Reach $24.49 Billion by 2029, Growing at 9.2% CAGR
Automotive Microcontrollers Market Share
The growth of the automotive microcontrollers sector is being bolstered by an increasing interest in autonomous vehicles. These driverless vehicles can function and execute necessary actions without the need for human interference. The ability to respond to external conditions is made possible through a fully automated driving system embedded in the vehicle. Support for applications related to autonomous driving is offered by multicore microcontroller families. As an example, a report in December 2022 stated that the Insurance Institute for Highway Safety, a non-profit based in the US, projected a number of 3.5 million autonomous cars to be present in the US by 2025. Furthermore, there is an expectation of 4.5 million autonomous vehicles on the roads by 2030. Hence, it's clear that the escalating demand for autonomous vehicles will propel the automotive microcontrollers market forward.
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How will the growth rate of the automotive microcontrollers market shape industry trends by 2034?
In recent times, there has been a significant expansion in the automotive microcontrollers market. This market is projected to augment from a value of $15.77 billion in 2024 to around $17.25 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.3%. The notable growth recorded in the past period can be linked to several factors such as an increase in disposable income, heightened merger and acquisition activities, the rise of emerging markets, and a surge in global population.
In the coming years, the automotive microcontrollers market is anticipated to witness robust growth, propelling it to a value of $24.49 billion by 2029, corresponding to a compound annual growth rate (CAGR) of 9.2%. This surge during the forecast period is likely influenced by factors such as the escalating demand for autonomous vehicles, increased commercial vehicles, burgeoning automotive industry, favourable government policies, and the growing attractiveness of electric vehicles. Key trends projected to manifest during this period include an emphasis on technologically advanced solutions, strategic collaborations, product innovation, concentration on the role of microcontrollers in electric vehicles, and the adoption of microchips that enhance a vehicle's adaptability in critical situations.
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What trends are poised to drive the future success of the automotive microcontrollers market?
Innovating new products has become an essential trend in the auto microcontrollers industry. Major entities in this marketplace are centering their efforts on crafting new tech solutions to solidify their standing. For instance, STMicroelectronics, a Franco-Italian multinational based in Geneva that manufactures electronics and semiconductors, unveiled their new automotive microcontrollers (MCUs) in February 2022. These are tailored for centralized (domain and zonal) electronic structures and electric vehicles (EVs). These MCUs make EVs more user-friendly and boost their range, in addition to enhancing their charging speed.
Which primary segments of the automotive microcontrollers market are driving growth and industry transformations?
The automotive microcontrollers market covered in this report is segmented -
1) By Type: 8 Bit, 16 Bit, 32 Bit
2) By Vehicle Type: Passenger ICE Vehicle, Commercial ICE Vehicle, Electric Vehicle
3) By Connectivity: Vehicle To Vehicle (V2V) Connectivity, Vehicle To Infrastructure (V2I) Connectivity, Vehicle To Cloud (V2C) Connectivity
4) By Technology: Adaptive Cruise Control, Park Assist System, Blind Spot Detection, Tire Pressure Monitoring System
5) By Application Type: Powertrain and Chassis, Body Electronics, Safety And Security Systems, Infotainment And Telematics
Subsegments:
1) By 8 Bit: Standard 8-Bit Microcontrollers, Low-Power 8-Bit Microcontrollers
2) By 16 Bit: General-Purpose 16-Bit Microcontrollers, Enhanced 16-Bit Microcontrollers
3) By 32 Bit: High-Performance 32-Bit Microcontrollers, Real-Time 32-Bit Microcontrollers
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Which geographical regions are pioneering growth in the automotive microcontrollers market?
Asia-Pacific was the largest region in the automotive microcontrollers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive microcontrollers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the automotive microcontrollers market landscape?
Major companies operating 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., ON Semiconductor, Cypress Semiconductor Corp, ARM LTD, Fujitsu Limited, Panasonic Corporation, Saankhya Labs, ASM Technologies, Broadcom Inc, CDIL, GigaDevice, CR Micro, Silan, Dialog Semiconductor Plc, Elmos Semiconductor and Arm, Maxim Integrated, Nuvoton Technology Corporation, Mitscholl electronics co. llc
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What Is Covered In The Automotive Microcontrollers Global Market Report?
•Market Size Forecast: Examine the automotive microcontrollers market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive microcontrollers market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive microcontrollers market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive microcontrollers market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive microcontrollers market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive microcontrollers market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive microcontrollers market.
•Competitive Landscape: Review strategic developments in the automotive microcontrollers market, including expansions, agreements, and new product launches.
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