What Is The Current and Historic Market Size Analysis Of Automotive Microcontrollers Market?
The automotive microcontrollers market has seen considerable growth due to a variety of factors.
• In recent times, the automotive microcontrollers market has witnessed robust growth. The market, which stood at $15.77 billion in 2024, is projected to expand to $17.25 billion in 2025, marking a compound annual growth rate (CAGR) of 9.3%.
The expansion during the historical period is associated with factors such as the enhancement of disposable income, an upsurge in mergers and acquisitions, the surge in emerging markets, and population increase.
How Will The Automotive Microcontrollers Market Size Evolve In The Foreseeable Future?
The automotive microcontrollers market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for automotive microcontrollers is predicted to experience remarkable growth in the ensuing years, reaching a staggering $24.49 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%.
The projected growth during this period can be credited to aspects such as the escalating demand for autonomous vehicles, a rise in commercial vehicle demand, the expansion of the automotive industry, regulatory support from governments, and an elevated interest in electric vehicles. Key trends predicted during this forecast period include an emphasis on technology advancements, strategic alliances, product innovation, application of microcontrollers in electric vehicles, and the integration of microchips that enhance the adaptability of vehicles in critical situations.
What Factors Are Driving Growth In The Automotive Microcontrollers Market?
The rise in preference for autonomous cars is fueling the expansion of the automotive microcontrollers market. These self-operating vehicles can carry out essential functions without the need for human involvement. Their fullly automatic driving systems equip them to react appropriately to surrounding conditions. The use of multicore microcontroller families is crucial for autonomous driving applications. A future projection was stated in a report by the Insurance Institute for Highway Safety, a non-profit organization based in the US, in December 2022. It revealed that there would be approximately 3.5 million self-driving cars gracing America's roads by 2025. The number is expected to increase further to 4.5 million by 2030. This escalating anticipation for driverless vehicles is set to boost the automotive microcontrollers market.
What Are The Core Segments Of The Globa Automotive Microcontrollers Market?
The automotive microcontrollers market covered in this report is segmented –
1) By Type: 8 Bit, 16 Bit, 32 Bit
2) By Vehicle Type: Passenger ICE Vehicle, Commercial ICE Vehicle, Electric Vehicle
3) By Connectivity: Vehicle To Vehicle (V2V) Connectivity, Vehicle To Infrastructure (V2I) Connectivity, Vehicle To Cloud (V2C) Connectivity
4) By Technology: Adaptive Cruise Control, Park Assist System, Blind Spot Detection, Tire Pressure Monitoring System
5) By Application Type: Powertrain and Chassis, Body Electronics, Safety And Security Systems, Infotainment And Telematics
Subsegments:
1) By 8 Bit: Standard 8-Bit Microcontrollers, Low-Power 8-Bit Microcontrollers
2) By 16 Bit: General-Purpose 16-Bit Microcontrollers, Enhanced 16-Bit Microcontrollers
3) By 32 Bit: High-Performance 32-Bit Microcontrollers, Real-Time 32-Bit Microcontrollers
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Which Emerging Trends Are Reshaping The Automotive Microcontrollers Market Size?
The trend of product innovation is becoming increasingly prevalent in the automotive microcontrollers market. Key players in this market concentrate on creating new tech solutions in a bid to fortify their market standing. For instance, in February 2022, STMicroelectronics, a Franco-Italian multinational located in Geneva that specializes in electronics and semiconductors, rolled out new automotive microcontrollers (MCUs) that are specifically engineered for centralized (domain and zonal) electronic architectures and electric vehicles (EVs). These MCUs contribute to making EVs more user-friendly while also enhancing their range and charging speed.
Who Are the Key Players in the Automotive Microcontrollers Market?
Major companies operating in the automotive microcontrollers market include:
• STMicroelectronics N.V.
• Infineon Technologies AG
• Renesas Electronics Corporation
• Microchip Technology Inc.
• NXP Semiconductors N.V.
• Texas Instruments Incorporated
• Toshiba Corporation
• ROHM Semiconductor
• Analog Devices Inc.
• ON Semiconductor
• Cypress Semiconductor Corp
• ARM LTD
• Fujitsu Limited
• Panasonic Corporation
• Saankhya Labs
• ASM Technologies
• Broadcom Inc
• CDIL
• GigaDevice
• CR Micro
• Silan
• Dialog Semiconductor Plc
• Elmos Semiconductor and Arm
• Maxim Integrated
• Nuvoton Technology Corporation
• Mitscholl electronics co. llc
What are the Regional Insights into the Automotive Microcontrollers Market?
Asia-Pacific was the largest region in the automotive microcontrollers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive microcontrollers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
