The global microcontroller market is expected to grow at a CAGR of 6.9% during 2016 - 2022. Among the various bit sizes, the 32-bit segment held the largest share in the global microcontroller market in 2015.
The rapidly developing automobile industry and surge in the smart grid projects is expected to be one of the primary factors driving the demand for microcontrollers during the forecast period. Majority of the programmable microcontrollers that are used presently are embedded in other consumer products or machinery including mobile phones, automobiles, household appliances and peripherals for computer systems. Owing to this, a microcontroller is sometimes also coined as embedded controller.
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Microcontrollers have myriad of applications, on account of its premium features. However, there are different types of microcontrollers to meet the requirements of a specific application. Since cost is an important factor while manufacturing, it is only coherent to pick the most economical device that goes with the application’s needs. Consequently, microcontrollers are usually tailored for specific applications.
The information and data in the publication “Global Microcontroller Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. Top down approach has been used to calculate the global microcontroller market by bit size, application and geography. P&S Intelligence analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Globally, the automotive industry has been witnessing a period of moderately strong growth as well as profitability. The annual sales have surpassed prerecession levels in some of the economies.
The ongoing technological advancements including vehicle connectivity, interactive safety systems and finally self-driving cars will change the global scenario in the near future. The automobiles though mechanical to its soul, will go digital world over the forecast period, thus leveraging the characteristics of microcontroller. This will drive the demand for microcontrollers during the forecast period.
The growing awareness among tech savy consumers is leading to smartphone proliferation across the globe. The sales of smartphone are driven by the demand for low cost smartphones in the developing economies and inexpensive 4G smartphones in emerging markets worldwide. The global smartphone market is increasing at a significant rate, with numbers varying from market-to-market basis. This will propel the demand for microcontrollers in the coming years.
Some of the key companies operating in the global microcontroller market include Texas Instruments Incorporated, Microchip Technology Inc., Silicon Laboratories, Intel Corporation, Renesas Electronics Corporation, Maxim Integrated, Fairchild Semiconductor, STMicroelectronics, Analog Devices Inc. and Samsung Semiconductor.
GLOBAL MICROCONTROLLER MARKET SEGMENTATION
By Bit Size