The global automotive microcontrollers market size is expected to grow from $10.67 billion in 2021 to $11.50 billion in 2022 at a compound annual growth rate (CAGR) of 7.86%. The global automotive microcontroller market size is expected to grow to $15.75 billion in 2026 at a CAGR of 8.18%.
What is the Global Automotive Microcontrollers Market?
The automotive microcontrollers market consists of sales of automotive microcontrollers by entities (organizations, sole traders, and partnerships) that refer to self-contained systems consisting of processors, memory, and peripherals, and used as an embedded system. The system uses an integrated chip that is used to control the functions in automobiles. Microcontrollers are used in a system that is small and consists of the least component design. The uses in automobiles are remote control systems, operating systems, and automobile audio systems.
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What drives the Global Automotive Microcontrollers Market?
Growing demand for driverless vehicles is contributing to the growth of the automotive microcontrollers market. An autonomous vehicle is able to operate itself and perform necessary functions without human intervention. An autonomous vehicle utilizes a fully automated driving system to allow the vehicle to respond to external conditions. Multicore microcontroller families support autonomous driving applications. For instance, according to Hindu business line data 2021, autonomous driving is increasingly gaining popularity as 3.5 million passenger cars sold worldwide had level 2 autonomy driving features in Q4 2020, growing 91% year-on-year. Growing demand for driverless vehicles will drive the automotive microcontrollers market.
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Global Automotive Microcontrollers Market Segments
The global automotive microcontrollers market is segmented:
By Type: 8 Bit, 16 Bit, 32 Bit
By Vehicle Type: Passenger ICE Vehicle, Commercial ICE Vehicle, Electric Vehicle
By Connectivity: Vehicle to Vehicle (V2V) Connectivity, Vehicle to Infrastructure (V2I) Connectivity, Vehicle to Cloud (V2C) Connectivity
By Technology: Adaptive Cruise Control, Park Assist System, Blind Spot Detection, Tire Pressure Monitoring System
By Application Type: Powertrain and Chassis, Body Electronics, Safety and Security Systems, Infotainment and Telematics
By Geography: The regions covered in the automotive microcontrollers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Microcontrollers Global Market Report 2022provides market size and growth forecasts for the global automotive microcontrollers market, global automotive microcontrollers market share, automotive microcontrollers market segments and geographies, automotive microcontrollers market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive microcontrollers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Microcontrollers Industry Playersinclude Toshiba Corp, Infineon Technologies AG, NXP Semiconductors, ON Semiconductor, Analog Devices Inc, Renesas Electronics Corporation, STMicroelectronics NV, Cypress Semiconductor Corporation, Microchip Technology Inc, Rohm Semiconductors, Texas Instrument Incorporated, Maxim Integrated, Silicon Labs Private Limited, and Fujitsu Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
