Microcontroller Global Market Sees Growth Rate Of 12% Through 2026
21 Sep, 2022
The global microcontroller market size is expected to grow from $17.51 billion in 2021 to $19.28 billion in 2022 at a compound annual growth rate (CAGR) of 10.13%. The global microcontrollers market size is expected to grow to $29.87 billion in 2026 at a CAGR of 11.57%.
What is the Global Microcontroller Market?
The microcontroller market consists of sales of microcontrollers by entities (organizations, sole traders, and partnerships) that refer to a compact integrated circuit that is designed to govern a specific operation in an embedded system. Microcontroller includes a processor, memory, and input/output (I/O) peripherals on a single chip. It takes inputs from the device it is controlling and holding control by sending the signals to many parts of the device.
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What drives the Global Microcontroller Market?
The growing utilization of IoT technologies globally is contributing to the growth of the microcontroller market. The Internet of things is a system of interconnected digital devices, machines, and objects provided with unique identifiers and the ability to transmit and share data without the need for human-to-human interaction. In the Internet of Things and smart objects, the computational ability is usually driven by microcontrollers. These are essentially scaled-down computers that operate smart devices. For instance, according to McKinsey data, the number of businesses that use IoT technologies has increased from 13% in 2014 to about 25% in 2019, and the worldwide number of IoT-connected devices is projected to increase to 43 billion by 2023. Thus, growing utilization of IoT technologies globally will drive the microcontroller market.
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Global Microcontroller Market Segments
The global microcontroller market is segmented:
By Product Type: 8-Bit Microcontroller, 16-Bit Microcontroller, 32-Bit Microcontroller
By Memory: Embedded Memory Microcontroller, External Memory Microcontroller
By Architecture: AVR Architecture, PIC Architecture, ARM Architecture, Others
By Application Outlook: Automotive, Consumer Electronics and Telecommunication, Industrial, Medical Devices, Military and Defense
By Geography: The regions covered in the microcontroller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Microcontroller Global Market Report 2022 provides market size and growth forecasts for the global microcontroller market, global microcontroller market share, microcontroller market segments and geographies, microcontroller market competitive landscape including leading competitors’ revenues, profiles and market shares. The microcontroller market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Microcontroller Industry Players include Analog Devices Inc, Microchip Technology Inc, Panasonic Corporation, Renesas Electronics Corporation, NXP Semiconductor, STMicroelectronics N.V, Infineon Technologies AG, Texas Instruments Incorporated, Silicon Laboratories, Zilog Inc, Cypress Semiconductor Corporation, TE Connectivity Ltd, EM Microelectronic, Yamaichi Electronics Co. Ltd, Toshiba Electronic Devices & Storage Corporation, Arm Limited, Parallax Inc, Semiconductor Components Industries LLC, LAPIS Semiconductor Co. Ltd., Intel Corporation, and Danfoss. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.