TMCnet News
Global Microcontroller Markets, 2018-2019 & 2025 - Increasing Penetration of Smart Grid SystemsDUBLIN, Aug. 28, 2019 /PRNewswire/ -- The "Microcontroller Market Analysis by Product (4/8-bit, 16-bit, 32-bit), by Application (Automotive, Consumer Electronics, Industrial) and Segment Forecasts 2019-2025" report has been added to ResearchAndMarkets.com's offering.  The global microcontroller market size was valued at USD 18.60 billion in 2018 and is expected to reach USD 35.29 billion, growing at a CAGR of 9.2% over the forecast period. Growth of the automotive sector is driven by an increase in the number of luxury cars that use advanced microcontrollers. Apart from the automotive sector, the product is used in consumer electronics and healthcare sectors, among others. Electric vehicles market is rapidly growing, which is anticipated to further fuel the product demand. Several key players are installing microcontrollers in electric vehicles to avoid pollution and to eliminate the noise coming out of the vehicle. For instance, Texas Instruments provides microcontrollers for use in electric motors as these prevent damage to the electrical components of the vehicle. As a result, with the growing demand for vehicles is the automotive sector is expected to contribute considerably to the growth, of the global microcontroller market over the forecast period. In the healthcare sector, microcontrollers are largely used in medical care equipment such as spirometers and blood pressure and heart rate monitors. Microcontrollers can decrease the cost of medical devices and help provide accurate patient information. Furthermore, the growing geriatric population and related health disorders are expected to drive the demand for medical electronic devices. This, in turn, would result in the growth of the microcontroller market over the forecast period. Increasing awareness for smart energy management with technological advancements is expected to further drive the growth. The smart grid is one of the form technologies that combines with electrical network and digital communication to facilitate remote control facility. A smart grid uses smart meters and the communication channel to communicate. Hence, microcontrollers are used for ensuring communication between physical locations. Hence, smart meter installations are expected to drive the market considerably. However, designing microcontroller and production involved is becoming more complex and critical owing to the use of hardware components by vendors, along with the integration of complex devices and peripherals. Having said this, manufacturers need to be more careful during the manufacturing process to avoid bugs. The production process involves testing and verification of defects in the device again and again, which is very expensive and may hamper the market growth. Increasing competition inthe market has led to a reduction in the price of the product, which is anticipated to further fuel the product demand. The declining average selling prices coupled with high demand from major application areas are expected to drive the market growth over the next six years. Moreover, the global slowdown in the sales and production of automotive can affect the growth, as microcontrollers are majorly used in automotive applications. Product Insights The 8-bit technology simplifies the product design and lowers the material costs. The developers select the controllers based on the processing capability required, degree of interfacing needed, and power consumption. An 8-bit Microcontroller Unit (MCU) comprises a low gate count, software simplicity, and lesser complexity, which makes the 8-bit MCU cheaper than the other types of microcontrollers. However, 8-bit MCU is expected to have a slower growth owing to processing speed which generally runs at 8 MHz and does not have huge internal Random-Access Memory (RAM). The 32-bit MCUs have a greater processing power than their counterparts and consumes less power. Furthermore, the increasing popularity of 32-bit MCUs owing to the decreasing unit price is expected to further drive the segment growth. Growing automotive, communications, consumer devices, and industrial sectors are anticipated to further drive the growth of the 32-bit MCU segment over the forecast period. Application Insights On the basis of application, the market can be categorized into automotive, consumer electronics, industrial, medical devices, and military and defense. The automotive segment led the market in terms of revenue in 2018. The market is expected to have a significant growth in the automotive sector, specifically in the Advanced Driver Assistance System (ADAS), as the technology uses image sensors to improve driver safety by offering features such as lane departure warning, parking assistance, and collision avoidance systems. The stringent regulatory norms targeted at improving road safety for drivers and pedestrians are expected to further propel the growth. Consumer electronics application segment is expected to lead the market in terms of CAGR over the forecast period. This growth is driven by the miniaturization of consumer devices and the increasing number of consumer electronic products such as cameras, robots, washing machines, and microwave ovens, among others. Medical segment is also expected to witness increasing demand for microcontrollers over the forecast period, owing to the high demand for accuracy in medical procedures, government support for medical automation, technological advancements, and investments by venture capitalists for the development of advanced microcontrollers. Regional Insights Asia Pacific is expected to witness significant growth over the forecast period. The proliferation of tech startup in emerging economies, such as India, which offer basic controller services along with innovative add-on services and products, such as insurance, GPS navigation, and entertainment systems, are some of the major factors attributed to the growth. North America led the global market in 2018. The major factor driving regional growth is a large consumer base for tablets, smartphones, and other consumer electronics. Also, microcontrollers are widely used in robots that are used in North America for research purpose, to minimize human error and to save time. Microcontroller Market Share Insights The key manufacturers include Renesas Electronics Corporation, NXP Semiconductor, Microchip Technology, STMicroelectronics, Infineon Technologies, and Texas Instruments. These market players are constantly introducing improved and advanced microcontroller-enabled devices for various sectors to increase their customer base and to expand their geographical presence. Market Dynamics Driver Analysis
Market Restraint Analysis
Key Opportunities Prioritized Industry Analysis - Porter's Microcontroller: Key Customers of Selected Companies
Microcontroller - Key Company Analysis, 2018 Microcontroller - PEST Analysis Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/4zhn43 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Laura Wood, Senior Manager
SOURCE Research and Markets 
|
View original content: