Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Microcontroller Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, April 21, 2021 (GLOBE NEWSWIRE) -- The Global Microcontroller Market is expected to grow at a CAGR of around 8.3% from 2020 to 2027 and reach the market value of over US$ 20.2 Bn by 2027.
The North American microcontroller market accounted for the largest market share, owing to the United States government's increasing investments in relocating some manufacturing back to the United States. Furthermore, research and development in surveillance and combat drones will open up new opportunities for the market. These drones and Unmanned Aerial Vehicles (UAVs) are linked to MCUs for high-precision military applications. Increased government spending on defense in the United States will contribute to the market's growth.
Asia Pacific, on the other hand, is expected to grow at a reasonable rate during the forecast period. One of the major factors driving the global microcontrollers market is the increasing adoption of IoT across a variety of applications such as smart appliances, industrial automation, home automation, smart grids, and smart cities.
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Top impacting factors
The most important factors driving the microcontroller market growth are rapid developments and innovations in the automotive sector; an increase in the trend of working through automated machinery and equipment, a surge in the scope of electronic products, and technological advancement, which drives the demand for the development of new products and solutions. However, operational failures in extreme climatic conditions are expected to stymie market growth. Furthermore, the high demand for electric and hybrid vehicles is expected to provide lucrative opportunities for the microcontroller industry to grow in the future.
COVID-19 impact on global microcontroller market
The COVID-19 pandemic has disrupted the global supply chain of raw materials and components. The pandemic has also resulted in a drop in semiconductor sales, which is having a significant impact on the microcontroller market. According to the Semiconductor Industry Association, global semiconductor sales fell by 3.6 percent in the first quarter of 2020 as a result of the COVID-19 pandemic disrupting international trade activities. In addition, several major consumer electronics manufacturers have halted production due to various lockdown scenarios. This has slowed the adoption of microcontrollers even further, impeding market growth in the short term.
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The global microcontroller market is segmented as product and application. The product is segmented as 8-bit, 16-bit, and 32-bit. By application, the market is segmented as automotive, consumer electronics & telecommunication, industrial, medical devices, and military & defense.
The prominent players of microcontroller involve Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Texas Instruments Incorporated, Toshiba Corporation, ON Semiconductor, Analog Devices, Inc., and among others.
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Some of the key observations regarding microcontroller include:
In September 2019, Infineon Technologies AG announced a collaboration with Synopsys, Inc. As Artificial intelligence (AI) and neural networks are becoming a key factor in developing safer, smart, and eco-friendly cars. In order to support AI-driven solutions with its future automotive microcontrollers, Infineon Technologies AG collaborated with Synopsys to develop a new product namely " AURIX™ microcontrollers" that will integrate a new high-performance AI accelerator called Parallel Processing Unit (PPU) that will employ Synopsys’ DesignWare® ARC® EV Processor IP.
In September 2019, NXP Semiconductors N.V announced the launching of a new product namely, "i.MX RT106F" running on FreeRTOS, the new MCU-based face recognition solution enables original equipment manufacturers (OEMs) to quickly, easily, and inexpensively incorporate face, expression, and emotion recognition into a diverse range of IoT products. The i.MX RT106F leverages the power of NXP’s OASIS face processing engine to provide a breakthrough in price and performance, using a neural network to perform face detection, recognition, and anti-spoofing, without the need for cloud connectivity.
In October 2020, Microchip Technology Inc. announced the launching of a new product namely, "WFI32E01PC ". The newly launched product is a Trust&GO secured platform-enabled Wi-Fi MCU module that is pre-provisioned for cloud platforms. The WFI32E01PC is compliant to Wi-Fi Alliance (WFA) specification and fully certified with the following world regulatory agencies: Federal Communications Commission (FCC), Industry Canada (IC), and European Radio Equipment Directive (RED). Microchip’s Trust&GO platform inside the WFI32E01PC streamlines the process of network authentication using secure element technology, which is preconfigured and pre-provisioned for cloud authentication.
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