Published Date : 18 May 2022
The global microcontroller (MCU) market was accounted at USD 25.76 billion in 2021 and it is predicted to hit around USD 58.20 Billion by 2030 with a registered CAGR of 9.48% over the forecast period 2022 to 2030.
The major growth in automotive, healthcare, consumer electronics industries is attributed to the upsurge in demand for Microcontrollers Units (MCUs). MCU are majorly utilized in devices which require high degree of control which is utilized by the users. The automotive market seeks an escalating demand of luxury vehicles that uses advanced microcontrollers in order to regulate numerous advanced features incorporated within the car, thereby boosting the microcontroller (MCU) market growth of automotive sector within the market.
Furthermore, a spike within the sales of electrical vehicles (EVs) especially within the developed regions expected to spice up the expansion of microcontrollers within the coming years. The expansion of EV is additionally supported by the governments of varied regions, because it remarkably helps in reducing the carbon footprint.
Future of Microcontroller Market
Factors like rapid developments and innovations within the automotive sector, due to high adoption of internet of things (IoT) are liable for recent developments within the automotive industry. Additionally increase in trend of working through automated machinery and equipment, technology upgradation and surge in scope of electronic products propels the market owing to the development of latest solutions and products. Various industry verticals like smartphones, automobiles, and healthcare helps the microcontroller market growth by including touch-sensing capabilities in their designs. Various microcontroller manufacturers are investing in setting and developments of applications to reinforce product accessibility. The demand for electric vehicle and hybrid vehicles is predicted to extend within the forthcoming time period and untapped countries are likely to supply several market opportunities for microcontroller market to grow globally.
Scope of The Report
|Market Size in 2021
|USD 25.76 Billion
|Revenue Forecast by 2029
|USD 53.16 Billion
|2022 to 2030
|Fujitsu Semiconductor Limited, NXP Semiconductors, Infineon Technologies AG, Cypress Semiconductor Corporation, Microchip Technology Inc., Renesas Electronics Corporation, STMicroelectronics, TE Connectivity Ltd.
COVID-19 Impact Analysis:
Key Developments in the Marketplace:
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