Allied Market Research, titled, “Microcontroller Market Size by Product Type and Application: Opportunity Analysis and Industry Forecast, 2020-2027,” the global microcontroller market size was $16.49 billion in 2019, and is projected to reach $42.19 billion by 2027 to register a CAGR of 11.50% during the forecast period. Asia-Pacific is expected to be the leading contributor to the global microcontroller market, followed by North America and Europe. The microcontroller market share in Asia-Pacific is expected to grow at the highest rate during the forecast period. The Asia-Pacific is witnessing high adoption of IoT across several applications such as smart appliances, industrial automation, home automation, smart grids, and smart cities. This growth has subsequently propelled an increase in the utilization of microcontrollers.
Download Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/284
A microcontroller is a small and low-cost microcomputer, designed to perform specific tasks of embedded systems such as displaying microwave information and receiving remote signals. This general microcontroller consists of a processor, memory such as RAM, ROM, EPROM, Serial ports, peripherals including timers, and counters. Based on product type, the microcontroller market is divided into three categories including 8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller.
In addition, based on memory configuration, the microcontroller is divided into an external memory microcontroller and an embedded memory microcontroller. Microcontrollers are widely used in light sensing & controlling devices such as LED, temperature sensing & controlling devices such as microwave ovens and chimneys, fire detection & safety devices such as fire alarms, and measuring devices such as voltmeters. In addition, microcontrollers are mostly designed for embedded applications and are heavily used in automatically controlled electronic devices such as cell phones, cameras, microwave ovens, and washing machines.
A microcontroller is a compact integrated circuit that is designed to manage a specific operation in an embedded system. A typical microcontroller includes a processor, memory, and input/output (I/O) peripherals on a single chip. Microcontrollers are widely used in vehicles, robots, office machinery, medical devices, mobile radio transceivers, vending machinery, and home appliances.
Based on product type, the 32-bit microcontroller segment contributed the maximum share, with 30% in 2019, in terms of revenue, to the market. The rising trend of working with machinery and equipment and the growth in demand for automobiles & smartphones, provide several opportunities for the 32-bit microcontroller industry. High-speed and affordable costs of the 32-bit MCUs are expected to drive demand for the microcontroller market during the forecast period. It is expected to grow at a faster rate, by 12.5% in comparison to other microcontrollers.
Competitive Analysis:
The Microcontroller industry’s key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size, and share analysis, operational results, and market positioning.
Microcontroller Market key players:
- Infineon Technologies AG
- Microchip Technology Inc.
- Silicon Laboratories
- Zilog, Inc.
- NXP Semiconductor
- RENESAS ELECTRONICS CORPORATION
- STMicroelectronics N.V.
- TEXAS INSTRUMENTS INCORPORATED
- Analog Devices, Inc.
- PANASONIC CORPORATION
By application, the automotive segment was the largest contributor of revenue in 2019 and is expected to grow at a CAGR of 14.2% during the forecast period. The rise in the use of numerous microcontrollers in the automobile sector, with electronic control units, creates microcontroller market growth. Different types of microcontrollers are widely used in the automobile industry, such as AVR microcontroller, 8051 microcontroller, and PIC microcontroller. In addition, the consumer electronics vertical was the second largest contributor to the market in 2019. The demand for consumer goods is expected to increase in the future as income levels are on the rise and people can afford goods such as washing machines, refrigerators, and micro ovens.
By region, the microcontroller market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that Asia-Pacific contributed the maximum revenue in 2019. The microcontroller market size in Asia-Pacific is expected to grow at a faster rate compared to other regions, owing to the rapid adoption of new technologies by end-user industries in countries such as China and India.
The COVID-19 outbreak has already had a huge impact on the consumer electronics sector. Some categories, such as computers, washing machines, refrigerators, micro ovens, and peripherals, have been impacted as consumers are working from home, leading to a decline in sales.
Inquiry before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/284
Key Findings Of The Study
- In 2019, by product type, the 32-bit microcontroller segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 12.5% during the forecast period.
- The automotive segment is expected to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North American microcontroller market, accounting for approximately 82.0% share in 2019.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
Contact Us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
