Microcontrollers will garner multiplying demand on the back of versatile applications in various end-use industries. The global microcontroller market is set to grow at a double digit growth rate of 10% over the forecast period (2019-2029). Growth can be attributed to increasing applications of automation in consumer electronics, automotive, military & defense, and industrial processes. Organizations and consumers alike are experiencing a shift of technology from handheld devices to smart devices that solve problems without human interaction. On the back of these factors market players will witness an exponential increase in demand between 2019 and 2029.
The microcontroller market analysis report outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Renesas Electronics Corporation, STMicroelectronics, TE Connectivity Ltd., Yamaichi Electronics Co., Ltd., and many others.
The microcontroller market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing microcontroller?
- How does the global microcontroller market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global microcontroller market?
- Which regions are showing the fastest market growth?
Key Takeaways of Microcontroller Market Study
- 16-bit microcontroller is projected to exhibit market dominance with more than half of the total market share. The product type segment is set to grow more than 2x by the end of the assessment period.
- 32-bit microcontroller will record the highest growth with over 15% CAGR during the forecast period.
- Automotive applications are set to garner maximum microcontroller demand with over 1/3rd of total market share. The automotive segment will grow 2.5X by the end of forecast period.
- Medical devices offer remunerative opportunities with the highest double digit CAGR of more than 12% through the forecast period.
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Fact.MR, in its new offering, provides an in-depth analysis of the global microcontroller market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the microcontroller market on the basis of product type (8-bit, 16-bit, and 32-bit), application (automotive, consumer electronics, industrial, medical devices, and military & defense), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).