Microcontroller Market by Product Type (8-Bit Microcontroller, 16-Bit Microcontroller, and 32-Bit Microcontroller) and Application (Automotive, Consumer Electronics, Industrial, Medical Devices, Military & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
New York, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microcontroller Market by Product Type and Application : Global Opportunity Analysis and Industry Forecast, 2020–2027" - https://www.reportlinker.com/p05955113/?utm_source=GNW
The global microcontroller market size was $16.49 billion in 2019 and is projected to reach $42.19 billion by 2027, to register a CAGR of 11.50% during the forecast period.
A microcontroller is a compact integrated circuit, which is designed to manage a specific operation in an embedded system. A typical microcontroller includes a processor, memory, and input/output (I/O) peripherals on a single chip. Microcontrollers are widely used in vehicles, robots, office machinery, medical devices, mobile radio transceivers, vending machinery, and home appliances.
Factors such as rapid developments and innovations in the automotive sector, owing to high adoption of internet of things (IoT) are responsible for recent developments in the automotive industry. In addition increase in trend of working through automated machinery and equipment, surge in scope of electronic products, and technology upgradation propels the demand for development of new products and solutions. Various industry verticals such as automobiles, smartphones, and healthcare aid the market growth by incorporating touch-sensing capabilities in designs.
Moreover, many microcontroller manufacturers are investing a good amount of share in developments and setting applications to enhance product accessibility. However, the major restraint for the market is its operational failures in extreme climatic conditions such as extreme cold and extreme heat. In such conditions the consumer needs to shift to mechanical devices. The demand for electric and hybrid vehicles is expected to increase in the future and untapped geographical regions are expected to provide several opportunities for this market to grow globally.
The global microcontroller market is analyzed by product type, application, and region. By product type, it is fragmented into 8-bit microcontroller, 16-bit microcontroller, and 32-bit microcontroller. By application, it is categorized into automotive, consumer electronics, industrial, medical devices, military & defense, and others.
By region, the global microcontroller market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest share in 2019, owing to adoption of IoT across several applications such as smart appliances, industrial automation, home automation, smart grids, and smart cities. North America was the second largest contributor, in terms of revenue, and is expected to witness significant growth during the forecast period, owing to growth in portable electronic systems such as personal computers, tablets, and smartphones have contributed to the microcontroller market growth significantly.
The key players operating in the market includes Analog Devices, Inc., Panasonic Corporation, Microchip Technology Inc., Renesas Electronics Corporation, NXP Semiconductor, STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments Incorporated, and Zilog, Inc.
KEY MARKET SEGMENTS
BY PRODUCT TYPE
• 8-Bit Microcontroller
• 16-Bit Microcontroller
• 32-Bit Microcontroller
• Consumer Electronics
• Medical Devices
• Military & Defense
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
• Analog Devices, Inc.
• Microchip Technology Inc.
• Panasonic Corporation
• Renesas Electronics Corporation
• NXP Semiconductor
• STMicroelectronics N.V.
• Infineon Technologies AG
• Texas Instruments Incorporated
• Zilog, Inc.
Read the full report: https://www.reportlinker.com/p05955113/?utm_source=GNW
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