The global Microcontroller Market is expected to reach USD 102.18 billion by 2024 and will witness massive growth during the forecast period. A microcontroller is a processor that is placed on a single circuit that consists of processor, input & output peripheral and memory. It is automatically installed in different products and electronic devices such as power tools, remote controls, toys, office machines, home appliances and others. Credits to the electronic devices that make use of microcontroller vastly because it makes their functioning error-free and assures a smooth process.
The growth in the microcontroller market is massively driven by the rise in the number of portable electronics such as smartphones, personal computers and tablet along with the upsurge in luxury cars that makes use of advanced electronic systems and is continuously helping the industry to grow in the current scenario. Additionally, the manufacturing procedure has been changing and this is pushing the rise in automated machines, which now gets produced in a much more simpler and efficient technique. There are some of the major dynamics that are enhancing the growth of the microcontroller industry.
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Some of the key participants in the microcontroller market are Panasonic Corporation, Infineon Technologies AG, Renesas Electronic Corporation, Toshiba Electronics, ARM Ltd., Texas Instrument Incorporated, Cypress Semiconductor Corporation, NXP Semiconductor N.V., STMicroelectronics, Microchip Technology Inc. and Fujitsu Semiconductor Limited. Key players have been experiencing a high degree of competition in the industry, which has resulted in price reduction and will further boost the development of the microcontroller industry.
The TMPM380FY ARM Cortex-M3 is the first MCU that featured single 5-V supply and was manufactured by Toshiba Electronics in 2015. It is the first in the series of 5-V Cortex-M3 devices that will decrease the count of the component and smoothen the enlargement of embedded designs for white goods and industrial applications.
Based on the regions, North America is anticipated to be one of the key regions contributing to the market’s growth over the forecast period. The application of microcontroller for photovoltaic systems and smart energy management is projected to help the microcontroller sector foresee massive growth. Along with this, Asia Pacific is estimated to witness a prominent growth during the estimated time span due to the progress in the consumer electronics and automotive industry. Considering this vast hype, new investors have started investing enormously in the R&D activities of this industry, which will boost the manufacturers to come up with some intense innovations. Thus, the microcontroller will foresee an enormous development in the near future.
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Microcontroller Product Outlook (Transaction Revenue, USD Billion, 2014 – 2024)
Microcontroller Application Outlook (Transaction Revenue, USD Billion, 2014 – 2024)
• Consumer Electronics
• Medical Devices
• Military & Defense
Microcontroller Regional Outlook (Transaction Revenue, USD Billion, 2014 – 2024)
• North America
• Asia Pacific
• Latin America
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/semiconductor
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