PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320121
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320121
Microcontroller Market size was valued at USD 19,908.2 Million in 2022, expanding at a CAGR of 12.1% from 2023 to 2030.
A microcontroller is a small and low-cost microcomputer, which is designed to perform the specific tasks of embedded systems like displaying microwave information, receiving remote signals, etc. Microcontrollers are found in many different systems and gadgets. Devices frequently make use of numerous microcontrollers that collaborate within the device to accomplish their separate jobs. A car, for example, may contain numerous microcontrollers that operate various internal systems such as the anti-lock brake system, traction control, fuel injection, and suspension control. The general microcontroller consists of the processor, the memory (RAM, ROM, EPROM), Serial ports, peripherals (timers, counters), etc.
The automotive industry extensively relies on microcontrollers for various applications. The growing demand for electric vehicles (EVs), self-driving cars, and connected car technologies drives the demand for microcontrollers in the automotive industry. International Energy Agency shows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million. This explosive growth means electric cars' share of the overall car market has risen from around 4% in 2020 to 14% in 2022 and is set to increase further to 18% this year. Electronic equipment and systems are increasingly being used in the medical industry to improve healthcare services, diagnostics, patient monitoring, and treatment. Microcontrollers are used in a variety of medical equipment, including patient monitoring, infusion pumps, pacemakers, insulin pumps, and implanted medical devices. Microcontroller manufacturers are always developing new devices and delivering ground-breaking solutions expected to provide growth opportunities for the market. However, Increasing Complexities and Customizations and Security Concerns may restrict the market growth.
The Global Microcontroller Market is segmented on the basis of Product Type, Memory, Application and Region.
The market is divided into three categories based on product type: 8-Bit, 16-Bit, and 32-Bit. 32-Bit dominates the market. The 32-bit microcontroller market is concerned with microcontrollers with a 32-bit architecture. 32-bit microcontrollers provide higher processing power, larger memory capacity, improved performance, and advanced features than 8-bit or 16-bit microcontrollers, making them suited for more demanding applications.
The market is divided into two categories based on application: Embedded Memory Microcontroller and External Memory Microcontrollers. Memory that is embedded Microcontrollers has embedded memory built into the semiconductor itself. This memory is often non-volatile, which means that its data is retained even after the power is disconnected. External Memory Microcontrollers typically have a dedicated memory bus interface that connects to external memory devices such as RAM, ROM, or flash memory.
The market is divided into two categories based on application: Automotive, Consumer Electronics & Telecom, Industrial, Medical Devices, Aerospace & Defense, and Others. Consumer Electronics & Telecom segment dominates the market. Microcontrollers are widely employed in these industries to power various devices, provide control and networking capabilities, and enable the functionality of a wide range of consumer electronic items and telecommunications infrastructure.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific is expected to dominate the growth of the Microcontroller Market, due to rising demand for microcontroller units. Microcontrollers are used in IoT devices for communication, data processing, and control. The region's demand for microcontrollers in IoT applications is predicted to rise as smart city initiatives, industrial IoT applications, and linked devices become more widely deployed. Exploding Topics analyzes There are over 15 billion connected IoT devices worldwide. The number of active IoT devices is expected to double by 2030. Greater China has more than 5 billion IoT devices. Approximately 2 in 3 devices use IoT. North America is the second largest market for microcontrollers, due to its high technological industry and the presence of significant microcontroller manufacturers.
The microcontroller market is a highly competitive and evolving sector. Microcontrollers are widely employed in a wide range of electronic devices and applications, including consumer electronics, industrial automation, and automotive systems. The manufacturers emphasize provides such as performance, power efficiency, pricing, scalability, software ecosystem, and development tools in order to obtain a competitive advantage. Furthermore, in this industry, the ability to deliver full solutions, including integrated peripherals, connectivity options, and robust development support, is critical. competitive analysis of the microcontroller market requires continuous monitoring of industry developments, competitor activities, and customer preferences. For example, Texas Instruments (TI) is expanding its broad analog and embedded processing semiconductor portfolio by introducing a scalable Arm Cortex microcontroller (MCU) portfolio that features a wide range of computing, pinout, memory, and integrated analog options.
In July 2021, Texas Instruments (TI) nowadays introduced a new high-performance microcontroller (MCU) portfolio that advances real-time control, networking, and analytics applications at the edge.