According to a report available on Radiant Insights, Inc. The global microcontroller market is projected to attain significant revenue by 2021. The market is expected to exhibit around 5% CAGR over the forecast period (2017 to 2021). Expanding consumer electronics industry and high preference for Internet of Things (IoT) in enterprises can drive the market. Demand for sensor-based networks that are compatible with wireless interfaces such as Wi-Fi, ZigBee, and Bluetooth can further fuel expansion.
Microcontrollers (MCUs) are integrated circuits that comprise programmable peripherals, processor core, and memory. They find applications in medical devices, remote controls, office machines, and other embedded systems. Embedding these circuits in smart cards can prevent frauds in financial transactions. Growing emphasis on energy efficient technologies from process industries can create future growth avenues for the microcontroller market.
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Major manufacturers invest in research & development to capitalize on the IoT trend. For instance, recently, SiTime Corporation launched a temperature compensated crystal oscillator. It can enhance the life of IoT sensors up to 10 years. These oscillators can be used in seismic sensor interfaces, personal medical diagnostics, and railroad activity sensors. Ingenic M200 is a system-on-a-chip (SoC) that is used in wearable devices.
Recent launch of ARM Cortex M7, a 32-bit MCU launched by ARM Holdings has a mixture of low-power consumption and high performance. Introduction of USB Type-C interfaces in MCUs can witness high adoption from consumer electronics during the forecast period. Adoption of automated industrial sensors and commissioning of smart grids are expected to further encourage expansion of the market for microcontrollers.
The worldwide microcontroller market is segmented on the basis of types, applications, and regions. As per types, the fragments are split into 8-bit, 16-bit, and 32-bit. 32-bit may exhibit a high CAGR during the forecast period. Lowered product cost of these microcontrollers can impel the demand in the near future. Automotive, consumer devices, and industrial sectors are anticipated to profit from this development. This fact can further support the demand. 8-bit may witness steady rise on account of demand over the years to come. Its simplistic design and low production cost are expected to propel the applications.
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Major market applications encompass industrial, automotive, medical devices, consumer services, and others. Automotive led the global market on account of revenue in 2015. Stringent regulatory framework regarding passenger safety can promote the adoption of microcontrollers in Advanced Driver Assistance Systems (ADAS). High demand for precision in medical procedures and supportive government policies are expected to encourage adoption in the forthcoming years.
Geographically, the overall microcontroller market is split into Americas, Europe and Middle East & Africa (EMEA), and Asia Pacific (APAC). North America is anticipated to exhibit immense growth during the forecast period on account of high demand from a large consumer base. Growing applications in smart energy management and photovoltaic systems can further support regional market till 2025. APAC can register a significant CAGR during the forecast period. Expansion of consumer electronics and automotive industries is the key regional driver. India is expected to showcase a lot of potential due to rising popularity of car entertainment systems. Other market drivers are demand of additional safety and emission control within cars.
Notable market players are STMicroelectronics, NXP Semiconductors, Infineon Technologies, Texas Instruments, and Cypress Semiconductor. Most companies are anticipated to expand their product portfolios and launch novel products to enhance their customer base. For instance, recently, NXP Semiconductors launched tiny microcontrollers. These products are aimed at controlling the low-end electric motors such as power tools and healthcare devices.
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