Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global microcontroller market size reached US$ 24.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.5 Billion by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.

A microcontroller is a small-sized, self-contained microcomputer that is designed to perform a dedicated task and execute one specific application. It has an integrated circuit that consists of a programmable input and output peripherals such as timers, counters, memory (RAM, ROM and EPROM), along with various serial ports on a single chip. Having low power requirements, microcontrollers are widely used in passengers cars and commercial vehicles; in consumer electronics such as cellphones, microwave ovens, cameras, and washing machines; office machines such as scanners, photocopiers, and printers, security systems, ATMs, etc. A more technologically advanced version of microcontrollers is used in aircrafts, marine vessels, medical life support systems and robots to perform critical tasks.

Microcontroller Market Trends:

The thriving healthcare sector, along with the increasing usage of consumer electronics, is one of the key factors driving the market growth. In the healthcare sector, microcontrollers are extensively used in devices such as spirometers and heart rate monitors. They aid in minimizing the costs of medical devices and provide accurate information. Furthermore, growing geriatric population and increasing prevalence of health disorders are expected to drive the demand for medical devices, which, in turn, is expected to impact the market for microcontrollers positively. In the consumer electronics sector, there is a need for devices with greater speed and higher functionality, which is expected to significantly drive product demand. Additionally, the proliferation of smart grid systems has also enhanced the requirement of microcontrollers across the globe. These systems consist of the remote-control facility and digital communication that requires microcontrollers to function. Moreover, the efficient functioning of automobiles is enabled by microcontrollers. Several advanced features such as head-up display (HUD), advanced driver assistance systems (ADAS), and movie and sound systems require microcontrollers for their efficient operation.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global microcontroller market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, architecture, memory and application.

Breakup by Product Type:

8-Bit
16-Bit
32-Bit
64-Bit
Others

Breakup by Architecture:

8051 Architecture
AVR Architecture
PIC Architecture
ARM Architecture
Others

Breakup by Memory:

Embedded Memory Microcontroller
External Memory Microcontroller

Breakup by Application:

Automotive
Powertrain and Chassis
Body Electronics
Safety and Security Systems
Infotainment and Telematics
Consumer Devices
Industrial
Others

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players.

IMARC Group’s latest report provides a deep insight into the global microcontroller market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the microcontroller market in any manner.

Key Questions Answered in This Report:

How has the global microcontroller market performed so far and how will it perform in the coming years?
What are the key regional markets in the global microcontroller industry?
What has been the impact of COVID-19 on the global microcontroller industry?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the architecture?
What is the breakup of the market based on the memory?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the global microcontroller industry?
What are the key driving factors and challenges in the global microcontroller industry?
What is the structure of the global microcontroller industry and who are the key players?
What is the degree of competition in the global microcontroller industry?