North America 8-bit Microcontroller Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America 8-bit Microcontroller Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North America 8-bit microcontroller market is expected to register a CAGR of 1.5% over the forecast period (2022 - 2027). Over the forecast period, the North American market for 8-bit microcontrollers is likely to be driven by innovations in various segments, such as communication, consumer devices, and automotive with Automobiles, Consumer Electronics accounting for largest market share.

Key Highlights

• North America is one of the largest automotive manufacturing hubs in the world. The region's economic growth had an impact on the sale of passenger cars and commercial vehicles. According to the American Automotive Policy Council 2022, American Automakers heavily invest in R&D activities, and automotive microcontrollers are shaping the automobile industry with the increase in vehicle production by driving the demand for 8-bit microcontrollers.
• The North American region is one of the leading consumers of microcontrollers due to the strong demand for high-end applications across major end-user industries. For instance, hybrid and self-driven vehicles are driving factors for 8-bit microcontrollers. ​
• As most of the devices in present-day scenario are turning into IoT enabled and in the technologically savvy regions like United States , Canada with the adoption of these technologies, there is a growing demand for the 8-bit microcontrollers market across many end-user industries like Home Appliances, Automotive, Healthcare Consumer, Manufacturing, Defense, Aerospace, Communications, and Energy ).
• The upgradation in technologies like artificial intelligence, IoT and an exponential increase in electronic products that include cameras, laptops, and computers are propelling the demand for the 8-bit microcontrollers market with the developments of the latest products in the communications industry, automation industry, instrumentation and process control, the healthcare industry.
• The COVID-19 pandemic and lockdown restrictions impacted industrial activities globally. The consequences of lockdowns include shipping problems, lack of availability of raw materials used in the manufacturing process, disruptions in the supply chain, and labor shortages has significantly declined the market growth.

Key Market TrendsConsumer Electronics to Witness Significant Market Share

• The rise in demand for 8-bit microcontrollers can be seen in key industry verticals like Healthcare and Automotive Industry. For instance, the COVID-19 pandemic has affected the health of many individuals related to neuro, cardio such as blood,sugar levels. So, the electronic medical devices demand is very high and subsequently contributed to the growth of microcontroller market.
• Microcontrollers are majorly used in automotive industry.With the advancement of electric cars and electric vehicles the demand for microcontrollers has been increased signifcantly and is anticipated to boost the market growth.
• Due to the presence of leading semiconductor players, North America is witnessing the significant share in the 8-bit microcontroller market.The 8-bit microcontrollers are cost-effective as they consume less power , and are less complex when compared to 16-bit and 32-bit microcontroller.There are many comptetive players in North America manufacturing 8-bit microcontrollers which is boosting the market.
• In multifunctional devices such as Residential Appliances , Medical Devices, Robots,Mobile Radio, Vehicles, with the major focus on adoption of the technologies like artificial intelligence, automation in key industry vertciles like Automotive Industry the demand for embedded control systems in increasing rapidly and is also playing a principal role in the growth of the market.

IoT Fueling Growth of Microcontrollers Market

• The innovation in the technological developments like automation, emergence of IoT technologies in consumer electronics such as smartphones, tablets, household appliances, televisions, cameras and computers are creating the lucrative growth of the 8-bit microcontrollers market.
• In United States, the uasge of public transportation is increasing on a daily -basis. The production of gasoline and electric vehicles are showing tremendous results across the globe. In the field of automation, the evolution of electric vehicles in increasing steadily and demands more growth for the market of 8-bit microcontrollers
• With the rise in number of diabetic patients, the therapy and diagonostics equipments have considerably increased and these equipment mainly rely on the advanced semiconductor technologies and components which helps in providing the accurate measurements. The medical industry is prominent driver driving the market expansion of 8-bit microcontrollers.
• In the end-use industries such as healthcare,consumer electronics, aerospace & defense,IT & telecommunication,the rate of adoption of Internet of Things(IoT) is high.The embedded solutions combined with the smart sensors is fuelling the growth of the microcontrollers market.

Competitive Landscape

The North America 8-bit microcontrollers market is dominated by partakers like Analog Devices, Silicon laboratories, Fujitsu over the forecast period. The most in-demand electronic components are the microcontrollers which have a wide range of applications across many key industry verticals Healthcare, IT&Telecomunications, Military & Defense, Automotive, and Consumer.

• December 2021 - Celeno, acquired by Renesas Electronics Corporation, enhances the product development and productivity with the wi-fi technologies in building the microcontrollers, MPU/SoC Processors, and sensors by creating end-to-end connectivity solutions for IoT, industrial, infrastructure, and automotive applications.
• September 2021- Silicon Labs expanded its IoT(Internet of Things) portfolio with a triple launch of hardware, software, and services, leading to a home run for the IoT(Internet of Things) industry that needs to solve challenges around the range, and power consumption, security, and long-term support.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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