Microcontroller Market to Record 10.9% CAGR Through 2030

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The global Microcontroller market size is expected to be worth around US$ 46.16 billion by 2030, according to a new report by Vision Research Reports.

The global Microcontroller market size was valued at US$ 17.79 billion in 2020 and is anticipated to grow at a CAGR of 10.9% during forecast period 2021 to 2030.

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Growth Factors

The market growth is attributable to the increasing focus on automation and across various verticals such as automotive and industrial. Increasing demand for embedded control systems in multifunctional devices such as vehicles, robots, medical devices, mobile radio, residential appliances, among others, is also playing a principal role in the growth of the market.

However, the market has witnessed a downfall in revenue owing to the adverse effects of the COVID-19 pandemic. The leading companies, such as Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, and STMicroelectronics, have witnessed a significant fall in revenues in the first two quarters of 2020. However, as the lockdown restrictions are gradually getting lifted, manufacturing facilities across the globe are reopening with a limited workforce. Further, as the automotive and industrial factories worldwide are reopening, the demand for microcontrollers is expected to grow steadily from 2021 to 2028.

The rising need for agility and flexibility in the industrial ecosystem due to the reducing product lifecycles is expected to spur growth further. The consumer electronics segment has also witnessed significant growth owing to innovative technological developments such as wireless sensing and connectivity, automation, along with the emergence of IoT ecosystems in homes. Furthermore, many players in the market are developing microcontrollers with state-of-the-art architecture to make them compatible with the devices that are having such technologies. Miniaturization of microcontrollers and the delivery of high performance with extremely low power usage are some of the key advantages that are offered by some of the new microcontroller units in the market.

The increased demand for devices supporting Ethernet and the Internet of Things (IoT) is also expected to impact the demand for microcontrollers over the forecast period favorably. The demand for microcontroller chips integrated with wireless interfaces, such as ZigBee, microcontrollers, and Bluetooth, has witnessed a considerable rise. Furthermore, the rising need for wireless sensor-based networks for the controlling and monitoring of systems has enhanced the interest of companies in implementing a combination of low-cost systems. Increasing focus on the implementation of energy-efficient solutions for both discrete and process industries is anticipated to propel sustainable manufacturing in industrial automation for a more efficient process. Flexible production and asset management would also influence the factory integration, offering high potential for automation and customized solutions among industrial applications.

Report Highlights

In terms of revenue, the 16-bit segment dominated the market with a share of 48.80% in 2020. This high share is attributable to the increasing use of these MCUs for automotive applications and rapidly decreasing average selling prices. The 8-bit technology simplifies the product design and lowers the material costs. The developers select the controllers based on the processing capability required, degree of interfacing needed, and power consumption. An 8-bit Microcontroller Unit (MCU) comprises a low gate count, software simplicity, and lesser complexity, which makes the 8-bit MCU cheaper than the other types of microcontrollers.

The automotive industry, owing to their specific requirements for the technologies, uses 16-bit and 32-bit MCUs on a large scale. The 32-bit segment is expected to expand at the highest CAGR from 2021 to 2028. 32-bit MCUs have a higher processing power than their counterparts and consume less power. Furthermore, the increasing popularity of 32-bit MCUs owing to the decreasing unit price is expected to drive the segment growth further. However, 8-bit MCU is expected to have a slower growth owing to processing speed, which generally runs at 8 MHz and does not have substantial internal Random-Access Memory (RAM).

In terms of revenue, the automotive segment dominated the market with a share of 30.13% in 2020. This high share is attributable to the increasing demand for MCUs for the demand for enhanced car safety features, convenience functions, entertainment systems, and government edicts on emission control. This application sector is also expected to have significant growth owing to the Advanced Driver Assistance System (ADAS). ADAS technology uses image sensors to improve driver safety by offering features such as lane departure warning, parking assistance, and collision avoidance systems. The stringent regulatory norms targeted at improving road safety for drivers and pedestrians are expected to further propel the growth.

The consumer electronics and telecom application segment is expected to lead the market in terms of CAGR from 2021 to 2028. This growth is driven by the miniaturization of consumer devices and the increasing adoption of consumer electronic products such as cameras, televisions, washing machines, and microwave ovens, among others. The medical segment is also expected to witness increasing demand for microcontrollers over the forecast period, owing to various factors. These include the high demand for accuracy in medical procedures, technological advancements, government support for medical automation, and increasing R&D investments for the development of MCUs that are required in advanced medical equipment.

North America dominated the market, with a share of 38.31% in 2020. This is attributable to the prevailing large consumer base for tablets, smartphones, and other consumer electronics in the region. Moreover, there is a growing penetration of IoT ecosystems in homes and corporate places in the region. This has led to the increase in the demand for smart electricity gadgets, smart wearables, sensors, medical devices, and other IoT-enabled devices from consumers, which is expected to drive the regional market growth over the forecast period.

The market in Europe is primarily driven by the presence of the major automotive and equipment manufacturers in the country. Luxury car manufacturers, such as BMW, Mercedes-Benz, and Porsche, have their manufacturing plants in Europe, which drives the demand for microcontrollers for the automotive application. However, the Asia Pacific regional market is expected to witness a significant gain in revenue share from 2021 to 2028. The proliferation of start-up business ventures in developing economies such as India that offer the essential microcontroller services, along with the innovative add-on services and products such as insurance, GPS navigation, and entertainment systems, are some major factors attributing to this gain.

Key Players

  • Infineon Technologies AG
  • Microchip Technology Inc.
  • NXP Semiconductor
  • Renesas Electronics Corporation
  • STMicroelectronics
  • Texas Instruments Incorporated

Market Segmentation

  • Product Outlook
    • 8-bit
    • 16-bit
    • 32-bit
  • Application Outlook
    • Automotive
    • Consumer Electronics & Telecommunication
    • Industrial
    • Medical Devices
    • Military & Defense
  • Regional Outlook
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
      • India
    • South America
      • Brazil
    • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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