Global Microcontroller Market to Reach US$ 38.9 Billion by 2027, Impelled by the Expanding Automotive Industry

September 16, 2022

The latest report by IMARC Group, titled “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global microcontroller market size reached US$ 22.3 Billion in 2021. A microcontroller, also known as a microcontroller unit (MCU), is an integrated circuit (IC) device consisting of a processor, programmable input/output peripheral, and memory (RAM, ROM, and EPROM). It is a small-sized, self-contained microcomputer designed to perform a task embedded in the system. It is installed in electronic devices such as office machinery, home appliances, power tools, toys, and remote controls to ensure smooth management of devices and prevent error occurrence activities. As a result, microcontrollers are extensively used in commercial vehicles, passenger cars, consumer electronics, office machines, security systems, scanners, and ATMs.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Microcontroller Market Trends:

The market is primarily driven by the expanding automotive industry and the increasing usage of microcontrollers in various vehicle electronics, such as in-vehicle infotainment (IVI) systems, telematics, instrument clusters, and advanced safety systems. Along with this, the rising incorporation of artificial intelligence (AI) advanced driver assistance systems (ADAS) in self-driving cars by major automotive original equipment manufacturers (OEM) is escalating the demand for MCUs. In addition, with significant developments in the healthcare industry, microcontrollers are widely utilized in spirometers, heart rate monitors, portable medical devices, such as blood-glucose monitors, blood pressure monitors, and pulse oximeters, due to their small size, minimized costs, and low-power consumption. This, coupled with the growing geriatric population and increasing prevalence of health disorders, are positively influencing the market growth. Furthermore, the rising proliferation of smart grid systems has also escalated the requirement for microcontrollers across the globe. Other factors, such as various technological advancements, the rising adoption of the internet of things (IoT), and the surging need for consumer electronics with greater speed and higher functionality, are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 38.9 Billion by 2027, exhibiting a CAGR of 10.4% during the forecast period (2022-2027).

Market Summary:

  • Based on the product type, the market has been classified into 8-bit, 16-bit, 32-bit, 64-bit, and others.
  • On the basis of the architecture, the market has been classified into 8051 architecture, AVR architecture, PIC architecture, ARM architecture, and others.
  • Based on the memory, the market has been bifurcated into embedded and external memory microcontrollers.
  • On the basis of the application, the market has been segmented into automotive (powertrain and chassis, body electronics, safety and security systems, and infotainment and telematics), consumer devices, industrial, and others.
  • Region-wise, the market has been divided into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with detailed profiles of key players operating in the industry.
     

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Microcontroller Market to Reach US$ 38.9 Billion by 2027, Impelled by the Expanding Automotive Industry
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