USD 8.38 billion
Report ID: SQMIG45N2078 | Region: Global | Published Date: September, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Microcontroller Units (MCUs) Market size was valued at USD 8.38 billion in 2021 and is poised to grow from USD 10.39 billion in 2022 to USD 58.25 billion by 2030, at a CAGR of 24.04% during the forecast period (2023-2030).
The Global Microcontroller Units (MCUs) Market is expected to grow significantly during the course of the forecast period as a result of expanding smart grid system adoption as well as expanding demand from the healthcare and automotive sectors. Healthcare costs are rising as immunodeficiency diseases become more prevalent globally. Age-related illnesses like diabetes and high blood pressure are becoming increasingly prevalent, as is the number of senior persons. Thus, there is a growing need for electronic medical equipment to measure blood pressure and sugar levels. Medical device manufacturers are introducing reliable and affordable medical equipment. Microcontroller Units are crucial components for achieving better dependability and affordability in medical care devices.
Energy-efficient IoT end-node applications are necessary for many connected devices that can run for months or even years on batteries without requiring maintenance or battery replacement. The emergence of intelligent items that can communicate with one other without human involvement is a result of the falling costs of parts like CPUs and sensors as well as the expanding use of wireless communication.
The top businesses in a variety of industries, including telecommunications, consumer electronics, and automotive, are putting a lot of effort into developing products that use artificial intelligence. For instance, Qualcomm Technologies, Inc. has invested a lot of money in the research and development of on-device AI.
Due to increased computer power and enhanced AI algorithms, the integration of machine learning in cars, smartphones, robotics, and drones is now feasible.
On-device Due to the fact that all processing is done locally on the device and offline, AI offers improved security and privacy protection. The artificial intelligence sector is seeing a change in favor of embedded AI. These cutting-edge advancements in AI and machine learning are opening up new possibilities for the use of Microcontroller Units in a variety of industries, including healthcare, smart cities, smart factories, IoT, and others. The companies in the microcontroller market can expect growth prospects as a result of this.
US Microcontroller Units (MCUs) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.38 billion
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Global Microcontroller Units (MCUs) Market is segmented based on product, application, and region. Based on product, the market is segmented into 8-Bit, 16-Bit, and 32-Bit. With respect to application, the market is segmented into automotive, consumer electronics & Telecom, industrial, medical devices, aerospace & defense, and others. Regionally, the global microcontroller units (MCUs) market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Microcontroller Units (MCUs) Market Analysis by Product
The market is divided into three product categories: 8-Bit, 16-Bit, and 32-Bit. In 2022, the 32-bit market dominated the others, garnering a 49.6% sales share. The market is anticipated to develop at the fastest CAGR of around 11.0% during the forecast period. It frequently has a large memory capacity (up to several megabytes) and a full complement of cutting-edge peripherals, such as quick analogue to digital converters (ADCs), digital signal processors (DSPs), and cutting-edge communication interfaces like gigabit Ethernet, USB 3.0, and CAN bus.
Due to their massive processor and memory capacity, 32-bit Microcontroller Units are the best option for applications demanding high-performance computing, real-time data processing, and sophisticated control systems. They are frequently employed in demanding applications such as those in the aerospace, robotics, automotive, and other industries that need high levels of dependability, accuracy, and scalability.
Global Microcontroller Units (MCUs) Market Analysis by Application
Based on application, the market is segmented into electronics for consumers & telecom, automobiles, medical equipment, industrial, aerospace & military, and others. The consumer electronics & telecom category, which had a market share of 32.6% in 2022 and experienced a CAGR of 11.7% over the projection period, led the entire market. Due to their capacity to process data, control functions, and communicate with other devices, Microcontroller Units are used in consumer electronics and telecom applications.
The automotive sector is expected to experience the fastest growth, expanding at a CAGR of 12.6% over the course of the projected period. Electronic components known as Microcontroller Units are frequently utilized to manage and control a number of systems in autos. For real-time data processing and control in embedded systems, these integrated circuits are small and low-power.
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Asia Pacific led the market in 2022 with a 58.1% market share. There are sizable and diverse electronics industries in China, Japan, South Korea, India, Taiwan, and other countries in the region. One of the greatest markets for Microcontroller Units in the Asia Pacific region, notably in countries like China, South Korea, and Japan, is the automotive industry.
North America is projected to expand at a noteworthy CAGR of 10.7% over the course of the forecast period. One of the main factors driving the growth of the microcontroller market in North America is the increasing need for smart and connected devices. IoT technologies, which connect everyday objects to the internet and enable them to communicate and exchange data, are being developed at a rapid pace in the area.
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Global Microcontroller Units (MCUs) Market Drivers
Increasing Demand for Automation and IoT Devices
Global Microcontroller Units (MCUs) Market Restraints
High Development Costs
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The competition is likely to become fierce in the coming years because there are numerous enterprises present and new players are making entry at a rapid pace. Due to heavy investments from big competitors on R&D initiatives to incorporate cutting-edge technologies in Microcontroller Units, the competition between these companies has intensified. To outperform their competitors and take a sizable chunk of the market, these firms are putting a premium on partnerships and teamwork. Infineon Technologies AG and REE Automotive Ltd., a business that specializes in automotive technology, partnered in November 2022 to create the REE modular Electric Vehicle (EV) platform. Robotaxis, commercial vans, and electric passenger shuttles are just a few of the many electric vehicle types that can be built on this platform's flexible and adaptable design. To outperform their competitors and take a sizable chunk of the market, these firms are putting a premium on partnerships and teamwork. Infineon Technologies AG and REE Automotive Ltd., a business that specializes in automotive technology, partnered in November 2022 to create the REE modular Electric Vehicle (EV) platform. Robotaxis, commercial vans, and electric passenger shuttles are just a few of the many electric vehicle types that can be built on this platform's flexible and adaptable design.
Top Player’s Company Profiles in Global Microcontroller Units (MCUs) Market
Global Microcontroller Units (MCUs) Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Microcontroller Units (MCUs)market is the market that is expected to grow over the course of the forecast period as a result of expanding smart grid system adoption as well as expanding demand from the healthcare and automotive sectors. Healthcare costs are rising as immunodeficiency diseases become more prevalent globally. Age-related illnesses like diabetes and high blood pressure are becoming increasingly prevalent, as is the number of senior persons. Thus, there is a growing need for electronic medical equipment to measure blood pressure and sugar levels. Medical device manufacturers are introducing reliable and affordable medical equipment.
|Market size value in 2021||USD 8.38 billion|
|Market size value in 2030||USD 58.25 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Microcontroller Units (MCUs) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Microcontroller Units (MCUs) Market.
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4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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