According to the latest report by IMARC Group, titled, “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global microcontroller market reached a value of US$ 22.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 38.9 Billion by 2027, exhibiting a CAGR of 10.4% during 2022-2027.
A microcontroller, also known as a microcontroller unit (MCU), is an integrated circuit (IC) device consisting of a processor, programmable input/output peripheral, and memory (RAM, ROM, and EPROM). It is a small-sized, self-contained microcomputer designed to perform a task embedded in the system. It is installed in electronic devices such as office machinery, home appliances, power tools, toys, and remote controls to ensure smooth management of devices and prevent error occurrence activities. As a result, microcontrollers are extensively used in commercial vehicles, passenger cars, consumer electronics, office machines, security systems, scanners, and ATMs.
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Microcontroller Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry and the increasing usage of microcontrollers in various vehicle electronics, such as in-vehicle infotainment (IVI) systems, telematics, instrument clusters, and advanced safety systems. Along with this, the rising incorporation of artificial intelligence (AI) advanced driver assistance systems (ADAS) in self-driving cars by major automotive original equipment manufacturers (OEM) is escalating the demand for MCUs. In addition, with significant developments in the healthcare industry, microcontrollers are widely utilized in spirometers, heart rate monitors, portable medical devices, such as blood-glucose monitors, blood pressure monitors, and pulse oximeters, due to their small size, minimized costs, and low-power consumption. This, coupled with the growing geriatric population and increasing prevalence of health disorders, are positively influencing the market growth. Furthermore, the rising proliferation of smart grid systems has also escalated the requirement for microcontrollers across the globe. Other factors, such as various technological advancements, the rising adoption of the internet of things (IoT), and the surging need for consumer electronics with greater speed and higher functionality, are creating a positive market outlook.
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
Microcontroller Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented 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
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