November 11, 2020
According to the research report titled ‘Global Microcontroller Market : Analysis By Product Type , Application, By Region, By Country (2020 Edition) : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)‘, available with Market Study Report LLC, global microcontroller market was valued USD 17.9 billion in the year 2019 and is anticipated to grow substantially during the forecast period.
Rising demand for consumer electronics, increasing electronics penetration in automotive industry, and growing adoption of automation solutions in manufacturing industries are the key factors propelling global microcontroller market growth, cites the study.
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Besides, escalating demand for IoT microcontroller units due to proliferation of connected devices like televisions, smartphones, tablets, gaming consoles, home appliances, smart meters, and security systems are enhancing the industry outlook.
On the contrary, rising prevalence of COVID-19 has disrupted operations of several companies due to supply chain constraints and lack of site access especially in major economies like China, the US, Germany and South Korea, thereby, impeding overall microcontroller industry expansion.
Based on product type, global microcontroller market is segmented into 32-bit, 16-bit, and 8-bit. With respect to application scope, the industry is fragmented into industrial, automotive, consumer electronics, others.
Considering the regional perspective, global microcontroller industry size is fragmented into Asia Pacific, MEA, Latin America, North America and Europe. Among them, Asia Pacific market is witnessing strong growth owing to high concentration of ODMs and OEMs across several regional industries such as automotive, industrial, consumer electronics, and healthcare.
Major players influencing global microcontroller market trends are Microchip Technology Incorporated, STMicroelectronics N.V., Silicon Laboratories, Incorporated, Infineon Technologies AG, Renesas Electronics Corporation, ON Semiconductor Corporation, Texas Instruments Incorporated, Maxim Integrated, NXP Semiconductors N.V., and ROHM Co., Ltd.