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Microcontroller Market is Projected to Augment at a Notable CAGR During the Forecast Period

Microcontroller Market
Press Release

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.

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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.

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.

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.

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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

  • 4/8-bit
  • 16-bit
  • 32-bit

By Application

  • Consumer Electronics
  • Industrial
  • Automotive
  • Others

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