Over 30.5% of microcontroller market revenue will be
ROCKVILLE, Md., March 07, 2022 (GLOBE NEWSWIRE) — A recently released report by Fact.MR predicts that the global microcontroller market will reach $20 billion by the end of 2021. Over the long term, from 2021 to 2031, microcontrollers sales are expected to improve, reaching US$74.14 billion, with a CAGR of 14%. Vehicle networking, interactive safety systems, self-driving cars and the digitalization of the automobile have led to significant application for microcontrollers.
From 2016 to 2020, the market experienced a robust CAGR of 11.1%. With the unfolding of the COVID-19 pandemic, the outlook has contracted markedly in the automotive industry, given the drop in global production in the first half. However, adoption has remained high in the medical industry, with healthcare providers leveraging advanced technology solutions to streamline workflows.
The future growth prospects mainly depend on wide adoption in the automotive industry. As the number of automobile owners globally is expected to increase, consumers are focusing on buying conventional luxury vehicles and electric hybrids with upgraded powertrains. In addition, automotive systems aimed at reducing carbon emissions are also gaining importance, expanding the deployment of suitable microcontrollers.
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Key insights from market research
- North America will be the fastest growing market, registering a CAGR of 9.5%
- During the forecast period, the European market is expected to grow at a CAGR of 5%.
- Asia will be a promising market, with a CAGR of 6% until 2031
- 16-bit microcontrollers hold the largest market share, capturing 49% of revenue
- The automotive sector will remain the main area of application, generating more than 30% of revenue
“Microcontroller industries are increasing their commitment to sustainability, driving them to undertake internal refurbishment activities, pushing the deployment of insulating and energy-efficient microcontrollers,” says an analyst at Fact.MR.
Key Segments Covered
type of product
- 8-bit microcontroller
- 16-bit microcontroller
- 32-bit microcontroller
- automotive microcontroller
- consumer electronics microcontroller
- industrial microcontroller
- Microcontroller for medical devices
- Military and defense microcontroller
How is the increase in sales of hybrid electric vehicles encouraging demand for microcontrollers in North America?
According to Fact.MR, the microcontroller market is expected to grow at a robust CAGR of 9.5% through 2031. The rising popularity of electric, hybrid and autonomous vehicles is the major reason for improving market growth across the continent.
The US Department of Energy estimates that the fleet of hybrid electric vehicles in the United States is the 2nd largest, with 5.8 million units sold in December 2020. In the first quarter of 2021, sales of electrified vehicles jumped 81%, with combined sales of electric vehicles. , hybrids and plug-in hybrids exceeding 300,000.
With this ever-increasing scope, manufacturers are introducing the most advanced and well-equipped microcontroller units. For example, Cypress Semiconductors offers TraveoTM 32-bit Arm automotive microcontrollers to ensure industry-leading performance, as well as safety and security features.
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Major manufacturers are focusing on introducing new product lines, with new and diversified features. In addition, strategies such as collaborations and acquisitions are also sought. Notable developments in the industry are:
- In October 2020, Infineon Technologies launched the TraveoTM II Body family of microcontrollers for next-generation vehicle electronic systems. The product line aims to meet a wide variety of automotive applications, including body control modules, door, window, sunroof and seat control units.
- In January 2021, Microchip Technology launched AVR® Microcontrollers (MCUs). They are a good choice for a range of embedded system designs as they offer unmatched performance, power efficiency and adaptability. Due to their highly tunable peripherals and the most code-efficient architecture in the industry, they can bring many functions to a single chip with minimal programming.
Profiled key companies:
- Texas Instruments Incorporated
- Fujitsu Semiconductor Limited
- Cypress Semiconductor Corporation
- Infineon Technologies SA
- Microchip Technology Inc.
- NXP Semiconductors
- Renesas Electronics Corporation
- TE Connectivity Ltd.
- Yamaichi Electronics Co.Ltd.
- Zilog inc.
Key Points Covered in the Microcontroller Industry Analysis
- Market estimates and forecasts 2016-2031
- Key drivers and restraints impacting market growth
- Analysis by segment, by country and by region
- Competitive Mapping and Benchmarking
- Brand share and market share analysis
- Main product innovations and regulatory conditions
- Impact of COVID-19 on the Microcontroller Market and How to Navigate
- Recommendation on the main winning strategies
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insights by category
In terms of sales, the automotive segment is expected to lead the market, accounting for 30.5% of revenue through 2031. This high share is driven by increased demand for microcontrollers for better automotive safety features, convenience functions and entertainment systems. Due to the Advanced Driver Assistance System (ADAS), this application area is also expected to increase significantly.
Image sensors are used in ADAS technology to increase driver safety by providing features such as lane departure warnings, parking assistance and collision avoidance systems. Strict regulatory standards aimed at increasing road safety for drivers and pedestrians are expected to further fuel growth.
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