Microcontroller Market Exhibits Stupendous 2.7X Growth
Increase in the number of automated machines and their applications warrant the production of remotes for efficient use. These remotes employ microcontrollers that act as processors on a single circuit. On the back of advancements in smart technology and remote controlled technology, the microcontroller market is expected to double its current market value between 2019 and 2029.
Microcontrollers aid many end-use industries such as automotive, medical devices, industrial machines, military & defense, and consumer electronics. The versatility of its applications is central to the growth of microcontroller market during the forecast period.
Automotive Applications Create an Upswing in Demand
Automotive applications generate maximum demand owing to the increased automation in vehicles. Commercial vehicles are introducing product features that let users control their automobiles anytime, and anywhere. Remotes with precision microcontrollers are enablers of advanced automobiles which will impel the demand generated from this application type.
Automotive applications currently hold over 1/3rd market share with a robust growth rate of more than 9% from 2019 to 2029. Consumer electronics such as televisions, washing machines, home security solutions are increasingly deploying smart features that help consumers control products from anywhere.
Manufacturers of consumer electronics deploy microcontrollers to ensure efficient functioning of smart devices. This positions the consumer electronics segment as the second largest application segment with a double digit growth rate through 2029. However, the highest growth opportunities can be traced to medical devices segment.
Medical device manufacturers face multiplying demand for high-precision in medical procedures, and technological advancements in treatments. Governments around the world are proactively involved in automation of medical devices and procedures. Conducive factors such as these accord medical device segment a meteoric growth rate of more than 12% throughout the forecast period (2019-2029).
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North America- Frontrunners of Global Sales
North America maintains share-wide dominance with over 1/3rd of the total market value. This can be attributed to the surging demand for electric vehicles and hybrid electric vehicles, automated homes, and increasing industrial applications in developed countries.
Europe and East Asia are second and third in terms of market share with double digit growth rates of 10% and 12% respectively. The presence of major automotive manufacturers in Europe and commercial automation SMEs in East Asia are central drivers of market demand in these regions.
Product Innovation Paves Way for Future Growth Prospects
The competitive landscape of microcontroller is fairly consolidated with major players occupying a big chunk of the total market share. Disruptive forces can be seen emerging from developing economies. The rise of automation start-ups in developing economies will gain substantial growth during the forecast period.
Market players are investing in decreasing the size of microcontroller and increasing the processing power. Major players that sway growth trajectories are Fujitsu Semiconductor Limited, Cypress Semiconductor Corporation, Microchip Technology Inc., NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, TE Connectivity Ltd, Texas Instruments Incorporated, Yamaichi Electronics Co., Ltd., and Zilog, Inc.
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Global Microcontroller Market: In-Depth Assessment on Key Segments
The global microcontroller market is segmented on the basis of product type, application, and region.
- Consumer Electronics
- Medical Devices
- Military & Defense
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Microcontroller Market – Scope Of The Report
The following report provides forecast and analysis of the global microcontroller market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Units), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global microcontroller market along with several macro-economic indicators. This newly published and insightful report on microcontroller sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global microcontroller market.
The report also comprises the study of current issues with end users and opportunities for microcontroller. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of microcontroller manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the microcontroller market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for microcontroller has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous microcontroller manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Microcontroller Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the microcontroller market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the microcontroller market, which includes global GDP growth rate, various industries growth rate, automotive, consumer electronic, medical devices and others.
This report serves as an authentic resource of intelligence on the microcontroller market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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