Quick Summary:
In an ever-evolving world, emerging technological needs are driving continuous growth in the global microcontroller market. One area that is signaling significant demand is healthcare, with various advancements in disorders such as diabetes, high blood pressure, and immunodeficiency creating the need for reliable, cost-effective medical devices. Microcontrollers form an essential component in the production of these devices, therefore elevating the industry's demand.
Leading companies from various sectors like telecommunication, automotive, and consumer electronics are enhancing this demand by integrating Artificial Intelligence (AI) into their products. This integration, made possible through advancements in computing power and AI algorithms, has opened new avenues in the use of microcontrollers in sectors like smart cities, smart factories, and the Internet of Things. Consequently, this trend is expected to create ample growth opportunities for entities operating in the microcontroller market.
The proliferation of interconnected devices including home appliances, smart meters, and smartphones has necessitated considerable advancements in microcontroller technology. Manufacturers are rising to the challenge by developing innovative products that not only meet current requirements but also lay a foundation for future market growth. This innovation is further bolstered by the increased usage of wireless connectivity and the reduced costs of associated components like processors and sensors, fostering the development of intelligent, seamless communication devices.
Manufacturers of medical devices are responding by introducing reliable and cost-effective equipment to the market. Microcontrollers play a critical role in various medical care devices, ensuring greater affordability and reliability. Devices such as blood pressure monitors and blood glucose meters incorporate a significant number of microcontrollers (MCUs). Consequently, the medical industry has a substantial demand for MCUs.
Prominent companies across various sectors such as telecommunications, consumer electronics, and automotive are placing significant emphasis on the integration of Artificial Intelligence (AI) into their products. One notable example is Qualcomm Technologies, Inc., which has made substantial investments in the research and development of on-device AI. This increased focus on AI has enabled the integration of machine learning capabilities in automobiles, smartphones, robots, and drones, thanks to advancements in computing power and enhanced AI algorithms.
On-device AI offers enhanced security and privacy protection as all data processing takes place offline and directly on the device. The AI industry is witnessing a notable shift towards embedded artificial intelligence. These cutting-edge advancements in AI and machine learning are opening up new avenues for the application of microcontrollers in various fields, including medical, smart cities, smart factories, IoT, and more. As a result, this development is expected to create growth opportunities for the market players.
Manufacturers of microcontrollers (MCUs) are actively developing innovative products and consistently delivering groundbreaking solutions. This trend creates opportunities for market growth. The interconnectedness of devices such as security systems, televisions, gaming consoles, home appliances, smart meters, tablets, and smartphones has driven significant advancements in microcontroller technology and is expected to drive the demand for IoT microcontrollers.
Many of these connected devices operate on batteries for extended periods without requiring replacement or maintenance, necessitating energy-efficient IoT end-node applications. The reduced costs of essential components like processors and sensors, combined with the increased utilization of wireless connectivity, have facilitated the development of intelligent products capable of seamless communication without human intervention.
Microcontroller Market Report Highlights
- In November 2022, REE Automotive Ltd and Infineon Technologies AG established a partnership to collaborate on the development of the REE modular Electric Vehicle (EV) platform. This platform is specifically designed to be adaptable and highly versatile, serving as a fundamental base for various types of electric vehicles, such as commercial vans, robotaxis, and electric passenger shuttles
- The 32-Bit segment held the highest market share in 2022 and is expected to expand at a CAGR of 11.8% from 2023 to 2030
- The automotive segment is projected to grow at the highest CAGR over the forecast period
- India, China, and Japan are the main source markets for microcontrollers
- Some of the key players include NXP Semiconductors; Microchip Technology Inc.; Renesas Electronics Corporation; STMicroelectronics; and Infineon Technologies AG
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| Report Attribute | Details |
|---|---|
| No. of Pages | 119 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 20.61 Billion |
| Forecasted Market Value ( USD | $ 47.16 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
Companies Mentioned
- Infineon Technologies AG
- Fujitsu Semiconductor Limited
- Microchip Technology Inc.
- NXP Semiconductors
- Renesas Electronics Corporation
- STMicroelectronics
- TE Connectivity Ltd.
- Texas Instruments Incorporated
- Toshiba Electronic Devices & Storage Corporation
- Yamaichi Electronics Co., Ltd.
- Zilog, Inc.
- Broadcom
Methodology
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