San Francisco, 12 February 2019: The Report Microcontroller Market Analysis By Product (8-bit, 16-bit,
32-bit), By Application (Automotive, Consumer Electronics, Industrial, Medical
Devices, Military & Defense ) And Segment Forecasts Till 2024
The global microcontroller market is expected
to reach USD 102.18 billion by 2024, according to a new report by Grand View
Research, Inc. The growing need for flexibility and agility in the industrial
ecosystem, owing to the decreasing product lifecycles, is expected to propel
the industry growth. The consumer electronics market has also witnessed a
significant growth due to the innovative technical developments.
The rapidly growing
automotive industry is expected to be the key driver of the market over the
forecast period. Additionally, a high degree of competition in the industry has
resulted in the price reduction, which is expected to further boost the market
growth.
The increased demand for
devices supporting Internet of Things and Ethernet is also expected to
favorably impact the demand for microcontrollers over the next 6 years. The
growing demand of wireless sensor-based network implementation for monitoring
and controlling of systems has enhanced the interest of companies in
implementing the combination of low-cost systems. The demand for
microcontroller chips integrated with wireless interfaces, such as Bluetooth,
ZigBee, and microcontrollers, has also witnessed growth.
Furthermore, the growing
focus on the implementation of energy efficient solutions for both discrete and
process industries will propel the sustainable manufacturing in industry
automation for a more efficient process. Flexible manufacturing and asset
management will also influence the factory integration, offering high potential
for automation and customized solutions among the industrial applications.
Access Research Report of Microcontroller
Market @ www.grandviewresearch.com/industry-analysis/microcontroller-market
Further key findings from the report suggest:
· The 32-bit microcontroller segment has
emerged as the fastest growing product segment over the forecast period, owing
to its ability to offer incredible computation power. The technological
developments for the realization of semi-autonomous and dully-autonomous
driving systems also require the presence of 32-bit microcontrollers, giving
impetus to the market.
· The automotive segment has also emerged as
a predominant application segment over the forecast period. The increasing
consumer demand for enhanced safety features, convenience functions,
entertainment systems, and government edicts on emission control is driving the
segment growth.
· The North American market is expected to
remain one of the key markets contributing to the market growth over the
forecast period. The application of microcontrollers for smart energy
management and photovoltaic systems is expected to be the major application
contributing to the market growth in the region.
· The Asia Pacific region is anticipated to
witness a significant growth over the forecast period, owing to the increasing
growth in the automotive and consumer electronics industry.
· The key players in the microcontroller
market include Renesas Electronics Corporation, NXP Semiconductor, Microchip
Technology, STMicroelectronics, Infineon Technologies, and Texas Instruments.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/communication-services
Grand View Research has
segmented the microcontroller market based on product type, application, and
region:
Microcontroller Product Outlook (Transaction Revenue, USD
Billion, 2014 - 2024)
·
8-bit
·
16-bit
·
32-bit
Microcontroller Application Outlook (Transaction Revenue,
USD Billion, 2014 - 2024)
·
Automotive
·
Consumer Electronics
·
Industrial
·
Medical Devices
·
Military & Defense
Microcontroller Regional Outlook (Transaction Revenue,
USD Billion, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Microcontroller Market@ www.grandviewresearch.com/press-release/global-microcontroller-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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