Microcontroller unit market
The global microcontroller unit (MCU) market demonstrates tremendous opportunities, mainly due to the rising sales of electronics goods. Besides, the proliferation of IoT sensors and actuators drive the growth of the market, linking the physical and digital worlds. Moreover, increasing miniaturization of IC and microcontrollers escalate the market demand, helping the organization and personals in their daily activities.
According to Market Research Future (MRFR), the global microcontroller unit (MCU) market is projected to garner exponential accruals by 2030, registering a significant CAGR throughout the forecast period (2022-2030). MCUs have diverse application areas, such as data center & enterprise networking, industrial automation, consumer electronics, automotive, and telecom.
Increasing uptake of the devices in electronics products offers ample scope of growth to the MCU manufacturers. Over recent years, the demand for MCUs to improve operations of electronic devices has been growing continually. Additionally, the increasing demand for microcontroller units from the burgeoning end-use industries such as medical devices, telecom, and automotive influences the market growth.
High automation in the automotive sector substantiates the market demand. Simultaneously, the extensive usages of microcontroller units in the healthcare sector for electrocardiography and digital X-rays machines boosts the growth of the market. Also, the innovation of customizable ICs contributes to the growth of the microcontroller unit market.
Conversely, the lack of technical expertise is the major factor forecasted to impede the growth of the market. Nevertheless, the consumer electronics sector would support market growth throughout the assessment period, demonstrating the largest adoption of the microcontroller unit (MCU).
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Microcontroller Unit (MCU) Market Segments
The report is segmented into three dynamics:
By Class : 4-bit, 8-bit, 16-bit, and 32-bit.
By Application : Consumer Electronics, Automotive, Industrial Manufacturing, Communication & IT, and others.
By Regions : Americas, Asia Pacific, Europe, and the Rest-of-the-World.
Global Microcontroller Unit Market - Regional Analysis
North America dominates the global microcontroller market. The largest market share attributes to the adoption of new communication network protocols for high data transfer speeds in data centers. Besides, the strong presence of major microcontroller manufacturers and semiconductor research and development centers drives the market growth.
Moreover, enormous technological advances in consumer electronics push the growth of the regional market. Due to the high spending on personal devices and the technology environment, the US and Canada accounts for a major share in the regional market. The North American microcontroller unit market is estimated to retain its dominance throughout the forecast period.
The microcontroller unit market in the European region accounts for the second-largest share, globally. The market growth is driven by the massive spending in consumer electronics, automotive, industrial manufacturing, and communication & IT.
The European space industry is investing colossally to develop long-term solutions for high-end, demanding requirements, fostering the growth of the market. Additionally, the presence of notable automakers and manufacturers of advanced semiconductors impacts the growth of the market positively.
The Asia Pacific region has emerged as a promising market for microcontroller units. Factors such as the vast production and adoption of MCU technology in respective electronic products would create a substantial revenue pocket. Moreover, the high demand for consumer electronic devices, especially from the automotive and communication & IT sectors, boost the regional market growth. Japan, China, and India are major contributors to the growth of the regional market.
Major Players:
Players leading the global MCU market include Renesas Electronics Corporation, NXP Semiconductor, Microchip Technology, Infineon Technologies AG, Silicon Labs Inc, Texas Instruments Inc, Maxim Integrated, Cypress Semiconductor, Toshiba Corporation, Analog Devices Inc., Intel Corporation, and Parallax, among others.
Microcontroller Unit MCU Market Competitive Analysis
Highly competitive, the MCU market appears fragmented due to the presence of several well-established players. Key strategies traced from recent developments of industry players include agreement & partnership, acquisitions, expansion, and product or technology launch. Players compete with each-other based upon pricing, technology, reputation, and services.
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Industry/ Innovation/Related News:
October 01, 2020 ---- Avnet Silica (Europe), a semiconductor distributor & specialist, launched a LoRa-based ‘Proof-of-Concept’ development solution for edge-to-cloud Internet of Things (IoT) use cases. Avnet Silica MiniPOC Kit is based on Renesas’ Synergy microcontrollers and the manufacturer’s sensors and power management components.
The kit uses the LoRaWAN (Long Range Wide Area Network) protocol use cases is growing, addressing key markets leveraging existing and new LoRa networks for deployment in smart factories & building automation, with use in a host of transportation, smart healthcare, logistics, and supply-chain tracking, agriculture, and retail applications, supporting low-power devices with lifetime battery of several years.
