The global Microcontroller
Market size is expected to reach USD 41.6 billion by
2030, according to a new report by Grand View Research, Inc. It is expected to
expand at a CAGR of 9.8% from 2022 to 2030. Globally, more than 27 billion
units of microcontrollers were shipped in 2021. The market growth is attributed
to the increasing focus on automation and artificial
intelligence across various verticals such as automotive and industrial.
Increasing demand for embedded control systems in multifunctional devices such
as vehicles, robots, medical devices, mobile radio, and residential appliances
is also playing a principal role in the growth of the market.
However, the market
has witnessed a downfall in revenue owing to the adverse effects of the
COVID-19 pandemic. The leading companies such as Infineon Technologies AG, NXP
Semiconductors, Texas Instruments Incorporated, and STMicroelectronics have
witnessed a significant fall in revenues in the first two quarters of 2020.
However, as the lockdown restrictions are gradually getting lifted,
manufacturing facilities across the globe are reopening with a limited
workforce. Further, as the automotive and industrial factories worldwide are
reopening, the demand for microcontrollers is expected to grow steadily from
2022 to 2030.
The rising need for
agility and flexibility in the industrial ecosystem due to the reducing product
lifecycles is expected to spur growth further. The consumer electronics segment
has witnessed significant growth owing to innovative technological developments
such as wireless sensing and connectivity, automation, along with the emergence
of IoT ecosystems in homes. Furthermore, many players in the market are
developing microcontrollers with state-of-the-art architecture to make them
compatible with the devices that are having such technologies. Miniaturization
of microcontrollers and the delivery of high performance with extremely low
power usage are some of the key advantages that are offered by some of the new
microcontroller units in the market.
The increased demand
for devices supporting Ethernet and the Internet of Things (IoT) is
also expected to favorably impact the demand for microcontrollers over the
forecast period. The demand for microcontroller chips integrated with wireless
interfaces, such as ZigBee, microcontrollers, and Bluetooth, has witnessed a
considerable rise. Furthermore, the rising need for wireless sensor-based
networks for the controlling and monitoring of systems has enhanced the
interest of companies in implementing a combination of low-cost systems.
Increasing focus on the implementation of energy-efficient solutions for both
the discrete and process industries is anticipated to propel sustainable
manufacturing in industrial automation for a more efficient process. Flexible
production and asset management would also influence factory integration,
offering high potential for automation and customized solutions among
industrial applications.
Related Press
Release@ Microcontroller
Market Report
Microcontroller
Market Report Highlights
- The 32-bit
microcontroller is anticipated to emerge as the fastest-growing product
segment over the forecast period owing to its ability to offer high
computational power. Technological developments in the production of
semi-autonomous and fully autonomous driving systems also require 32-bit
microcontrollers, thus driving the product segment
- The consumer
electronics and telecom application segment dominated the global market in
2021. The development of microcontrollers integrated with the Near-Field
Communication (NFC), Bluetooth, and ZigBee, among other wireless
interfaces is expected to positively impact the global market. The
favorable regulatory scenario for the installation of smart grid systems
is expected to boost microcontrollers’ demand over the forecast period
- Asia Pacific
dominated the market in 2021. It is anticipated to witness significant
demand, particularly in India and China, because of the availability of
high-end luxury as well as economy vehicles. The increasing labor cost in
China would result in the increasing automation of industrial processes,
which is likely to propel the market demand over the projected period
- Factors such as the Brexit and U.S.-China trade war have led to declining market conditions. New American tariffs on Chinese goods and a slowdown in the Chinese economy are the major factors affecting the steady growth of the market
About Us:
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, the company offers
market intelligence studies ensuring relevant and fact-based research across a
range of industries including technology, chemicals, materials, healthcare and
energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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