Global Microcontroller Market to Reach US$ 55.1 Billion by 2032, Fueled by Expanding Product Utilization Across the Automotive Industry

March 20, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “­­Microcontroller Market Report by Product Type (8-Bit, 16-Bit, 32-Bit, 64-Bit, and Others), Architecture (8051 Architecture, AVR Architecture, PIC Architecture, ARM Architecture, and Others), Memory (Embedded Memory Microcontroller, External Memory Microcontroller), Application (Automotive, Consumer Devices, Industrial, and Others), and Region 2024-2032,” the global microcontroller market size reached US$ 26.5 Billion in 2023. A microcontroller is a small-sized, self-contained microcomputer with an integrated circuit consisting of programmable input and output peripherals, such as memory (RAM, ROM, and EPROM), timers, and counters, along with various serial ports on a single chip. It is designed to perform a dedicated task and execute one specific application and is extensively installed in automatically controlled products and electronic devices, including remote controls, home appliances, power tools, office machinery, toys, security systems, ATMs, and other embedded systems. A microcontroller facilitates the smooth management of electronic devices, prevents errors, and has low power requirements. As a result, they find a wide range of applications across the communication, retail, and automotive industries. Apart from this, a more technologically advanced and sophisticated version of the microcontroller is used in aircraft, marine vessels, medical life support systems, and robots to perform crucial tasks.

Global Microcontroller Market Trends:

The market is primarily driven by the rising integration of microcontrollers in the automotive industry for the efficient functioning of automobiles. Besides this, the escalating demand for luxury cars among consumers is fuelling the need for advanced microcontrollers since it is used to control various sophisticated features incorporated in the car. Moreover, the surge in demand for electric vehicles (EVs), especially with supportive government initiatives as they help reduce the carbon footprint, is creating a positive outlook for the market. In addition to this, the advent of the internet of things (IoT)-based microcontroller units (MCUs) due to the expanding adoption of connected devices, such as televisions, smartphones, home appliances, tablets, smart meters, gaming consoles, and security systems, is aiding in market expansion. Concurrent with this, the escalating use of microcontrollers across the healthcare sector in spirometers and heart rate monitors to reduce the cost of medical devices and provide accurate information is presenting remunerative opportunities for the market growth. Furthermore, the proliferation of smart grid systems consisting of remote-control facilities and digital communications is strengthening the market growth. Looking forward, the market value is projected to reach US$ 55.1 Billion by 2032, expanding at a CAGR of 8.2% during 2024-2032.

Market Summary:

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

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Architecture, Memory, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Microcontroller Market to Reach US$ 55.1 Billion by 2032, Fueled by Expanding Product Utilization Across the Automotive Industry
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