GAITHERSBURG, Md., Aug. 5, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Microcontroller Market is accounted for $21.10 billion in 2019 and is expected to reach $53.37 billion by 2027 growing at a CAGR of 12.3% during the forecast period.
Some of the key players profiled in the Microcontroller Market include ARM Ltd., Cypress Semiconductor Corporation, Fujitsu Semiconductor Limited, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor N.V., Panasonic Corporation, Renesas Electronic Corporation, STMicroelectronics, Texas Instrument Incorporated, Zilog, Inc., Yamaichi Electronics Co., Ltd., Toshiba Electronic Devices & Storage Corporation and TE Connectivity Ltd.
Growing demand from medical and automotive sectors and growing adoption of smart meters in smart grid systems are the major factors propelling the market growth. However, the unfavourable macroeconomic conditions are hampering the growth of the market.
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Based on the product, the 8-bit segment is estimated to have a lucrative growth in the forecast period. The 8-bite technology simplifies the product design and lowers the material costs. The developers select the controllers based on the processing capability required, degree of interfacing required, and power consumption. An 8-bit MCU comprises a low gate count, software simplicity, and slighter complexity, which makes it cheaper than the other types of microcontrollers.
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By geography, North America is going to have a lucrative growth during the forecast period due to the prevailing large customer base for tablets, smartphones, and other consumer electronics. Furthermore, increasing penetration of IoT ecosystems in homes and corporate places in the region has led to the rise in demand for smart electricity gadgets, medical devices, sensors, and other IoT enabled devices, which is expected to drive the regional market growth.
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- 8051 Architecture
- ARM Architecture
- AVR Architecture
- PIC Architecture
- External Memory Microcontroller
- Embedded Memory Microcontroller
- Consumer Electronics
- Medical Devices
- Military & Defense
- Consumer Goods
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
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- Strategic recommendations in key business segments based on the market estimations
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