Microcontroller Market Enormous Growth with Recent Trends & Demand to 2030
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Updated on Oct 11, 2023
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Microcontroller Industry Overview
The global microcontroller market size is expected to reach USD 41.6 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.8% from 2022 to 2030. Globally, more than 27 billion units of microcontrollers were shipped in 2021. The market growth is attributed to the increasing focus on automation and artificial intelligence across various verticals such as automotive and industrial. Increasing demand for embedded control systems in multifunctional devices such as vehicles, robots, medical devices, mobile radio, and residential appliances is also playing a principal role in the growth of the market.
Microcontroller Market Segmentation
Grand View Research has segmented the global microcontroller market on the basis of product, application, and region:
Based on the Product Type Insights, the market is segmented into 8-bit, 16-bit and 32-bit.
- In terms of revenue, the 32-bit segment dominated the market with a share of over 40.0% in 2021. This large share is attributed to the increasing use of these MCUs for automotive applications and rapidly decreasing average selling prices. The 32-bit technology simplifies the product design and lowers the material costs, and it has 32 pathways in parallel for data transmission.
- 8-bit MCU is expected to witness slower growth in the years to come owing to processing speed, which generally runs at 8 MHz and does not have substantial internal Random-Access Memory (RAM).
Based on the Application Insights, the market is segmented into Automotive, Consumer Electronics & Telecom, Industrial, Medical Devices, Aerospace & Defense, and Others.
- The consumer electronics and telecom application segment held the largest revenue share of over 45.0% in 2021 and is expected to register the fastest CAGR from 2022 to 2030. This segment is driven by the miniaturization of consumer devices and the increasing adoption of consumer electronic products such as cameras, televisions, washing machines, and microwave ovens.
- The medical devices segment is expected to witness increasing demand for microcontrollers over the forecast period owing to various factors such as the high demand for accuracy in medical procedures, technological advancements, government support for medical automation, and increasing R&D investments for the development of MCUs that are required in advanced medical equipment.
- The automotive segment is expected to witness significant growth over the forecast period. This is attributed to the increasing demand for microcontrollers for enhanced car safety features, convenience functions, entertainment systems, and government edicts on emission control. This application sector is also expected to witness significant growth over the coming years owing to the Advanced Driver Assistance System (ADAS).
Microcontroller Regional Outlook
- North America
- Asia Pacific
- South America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The top five participants accounted for more than 50.0% share in the market in 2021. The players are actively engaged in collaborations and partnerships to develop new products.
Some prominent players in the global microcontroller market include
- Cypress Semiconductor Corporation
- Fujitsu Semiconductor Limited
- Infineon Technologies AG
- Microchip Technology Inc.
- NXP Semiconductors
- Renesas Electronics Corporation
- TE Connectivity Ltd.
- Texas Instruments Incorporated
- Toshiba Electronic Devices & Storage Corporation
- Yamaichi Electronics Co., Ltd.
- Zilog, Inc.
Order a free sample PDF of the Microcontroller Market Intelligence Study, published by Grand View Research.