Microcontroller Market Forecasts to 2028 – Global Analysis By Product Type (8-Bit, 16-Bit and 32-Bit), Application (Automotive, Industrial, Medical Devices, Networking & Communications, Consumer Electronics and Military & Defense), and Geography

Microcontroller Market Forecasts to 2028 – Global Analysis By Product Type (8-Bit, 16-Bit and 32-Bit), Application (Automotive, Industrial, Medical Devices, Networking & Communications, Consumer Electronics and Military & Defense), and Geography

According to Stratistics MRC, the Global Microcontroller Market is accounted for $34.90 billion in 2022 and is expected to reach $60.50 billion by 2028 growing at a CAGR of 9.6% during the forecast period. A microcontroller is a small integrated circuit that controls a single process in an embedded system. A typical microcontroller is embedded inside a system to control a particular function in a device and consists of a processor, memory, and input/output (I/O) peripherals on a single chip. Due to its streamlined instruction set and resulting greater design simplicity, but the software can be more difficult due to the emphasis it places on it.

According to HCL, 10% of residences worldwide will be smart homes by 2025 with wearable’s, smoke detectors, thermostats, and glass breakage detection systems are a few examples of smart devices that greatly benefit from the integrated high-performance analog capabilities and extremely low power consumption of 8-bit MCUs.

Market Dynamics:

Driver:

Increased demand for portable medical equipment

Original equipment manufacturers of medical equipment are strictly focused on providing sophisticated healthcare solutions for treating and monitoring the patients suffering from common ailments, hence enhancing the quality of healthcare gadgets at a reasonable price. Due to its ultra-low power operation and incorporated high performance analogue peripherals, Microcontrollers play a vital role in portable medical instruments by extending their battery life. The patient's condition can be digitally processed and filtered by the Microcontroller, which also shows the parametric results of physiological data like heart rate, blood pressure, blood oxygen level, lung capacity, and many other things are propelling the market growth.

Restraint:

Intellectual property protection rights are inadequate and limited

Designing a robust framework for the protection of intellectual property rights is considered as missing throughout the microcontroller sector, which is becoming into the centre for new small and medium companies. The efficiency of IP frameworks in Vietnam, Indonesia, Malaysia, Thailand, and the Philippines is below the highest worldwide standards, according to the World Intellectual Property Organization report from 2017, which is impeding the expansion of the semiconductor and other manufacturing sectors. The Lack of microcontroller market prospects for manufacturers to participate in chains results in a loss of economic growth, technology transfer, and employment opportunities. Insufficient and ineffective frameworks for the protection and enforcement of intellectual property rights are hindering the market.

Opportunity:

A rise in the use of advanced driver assistance systems

There is an increase in demand for advanced driver-assistance systems (ADAS), which provide automated monitoring, braking, warning, and steering features. Consumer interest in safety applications and legal requirements that lower accidents, protect drivers, and boost demand for cars are major factors in the spike in demand for these systems. As a result, it is anticipated that developing marketing plans to raise customer awareness would increase the demand for ADAS technology while providing a multitude of microcontroller market prospects to automotive and microcontroller manufacturers worldwide by enhancing the market growth.

Threat:

Utilization of complex structure and components

Static electricity has the potential to harm microcontrollers because they are made of complementary metal-oxide-semiconductors (CMOS). A superior power device cannot be directly interfaced with by a microcontroller. Its structure is intricate. Typically, it is used in micro equipment. There are a set number of executions. There are problems since not all microcontrollers have analogue I/O which hampers the growth of the market.

Covid-19 Impact

The COVID-19 pandemic's extensive supply chain disruptions had a profound effect on all facets of industry and trade. Several factors combined to produce a global microcontroller shortage that has an impact on the auto industry as well as other industries. The epidemic has also contributed to a huge rise in demand for microcontrollers in the automotive industry, a worldwide microcontroller shortage that has an impact on the auto industry and other industries which

The 16-Bit segment is expected to be the largest during the forecast period

The 16-Bit segment is estimated to have a lucrative growth, due to the expanding market for automotive modules needed to produce electric or hybrid automobiles, lighting equipment, etc. The production of microcontrollers with Bluetooth and WIFI, which have the greatest applications in the automotive, consumer electronics, and medical sectors, is anticipated to increase as a result of key industry players thereby boosting the market.

The networking & communications segment is expected to have the highest CAGR during the forecast period

The networking & communications segment is anticipated to witness the fastest CAGR growth during the forecast period, due to worldwide rise in demand for smartphone and other smart devices. Since the previous two decades, the globe has seen a daily increase in data generation while also overcoming problems with traditional data drives, which has fuelled the expansion of the microcontroller market internationally. Microcontrollers are crucial components of the equipment used by the military and defence industries all over the world since they transport loads of sensitive data at a higher risk of information leakage which drives the market growth.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the major drivers of the expansion of the local market are the availability of cheap labour and raw resources in large quantities. The rise in living standards in nations like China, India, Malaysia, Thailand, etc. is thought to be the cause of the increase in demand. These nations strive to upgrade materialistic goods including advanced medical technology, automated equipment, automated cars, and consumer gadgets with cutting-edge technology which is encouraging the growth of the market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the expansion of the automotive and medical device industries, Europe is anticipated to have modest market growth in the near future the fact that Germany, France, and other well-known automobile manufacturing centres in Europe, are experiencing surge in demand for advanced MCUs during the past ten years. Additionally, Europe's biomedical, bioengineering, and metallurgical industries are improving their manufacturing techniques, and as a result, end customers around the world can anticipate receiving highly advanced medical products from these industries.

Key players in the market

Some of the key players profiled in the Microcontroller Market include Infineon Technologies AG, NXP Semiconductor, Renesas Electronics Corporation, Microchip Technology Inc, STMicroelectronics, Texas Instruments Incorporated, Toshiba Electronic Devices & Storage Corporation, Intel, Maxim Integrated, ON Semiconductors, ROHM CO LTD, Zilog, Inc, Analog Devices Inc and Panasonic Corporation

Key Developments:

In Jan 2023, Infineon and Resonac announce the expansion of their cooperation and a new multi-year agreement for delivery of silicon carbide (SiC) materials. According to the agreement, Resonac will supply Infineon with SiC materials for the production of SiC semiconductors, covering a double-digit share of the forecasted demand for the next decade.

In Jan 2023, NXP Introduces Advanced Automotive Radar One-Chip Family for Next-Gen ADAS and Autonomous Driving Systems, The one-chip solution is comprised of a highly integrated RF front-end and a multi-core radar processor.

In Nov 2022, NXP Introduces High-Performance S32K39 Series MCUs for Modern Electrification Applications. The new MCUs enable NXP’s battery management system (BMS) and EV power inverters to provide end-to-end solutions for next-generation EVs.

In July 2022, NXP Collaborates with Foxconn on Next Generation Vehicle Platforms, The collaboration builds on the company’s initial digital cockpit partnership, based on the NXP i.MX applications processors and NXP Software Defined Radio platform.

Product Types Covered:
• 8-Bit
• 16-Bit
• 32-Bit

Applications Covered:
• Automotive
• Industrial
• Medical Devices
• Networking & Communications
• Consumer Electronics
• Military & Defense

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements