The worldwide microcontroller unit market is expected to reach 30.9 billion by 2023. From 2023 to 2033, global microcontroller unit sales will grow at an 8.6% CAGR. By the end of 2033, the worldwide microcontroller market will be worth $70.6 billion.
Demand for 32-bit microcontroller devices is particularly strong across the world. The target category is projected to grow at an 8.5% CAGR between 2023 and 2033.
The worldwide market is being driven by rising applications in consumer electronics and the automotive industry. Increased adoption of digitization and electrification will enhance sales.
A basic microcontroller has programmable input-output devices, processing units, and input/output devices. Such microcontrollers are capable of doing the task of a processor. But they have advanced segments to give and receive commands.
Microcontroller units are being used in diverse industries including consumer electronics. They have become indispensable components of modern electronic devices and equipment.
Microcontrollers such as PIC18F-Q40 find applications in various medical devices. Also, STM32 series microcontrollers are used in thermometers and BP monitoring systems. Hence, growing demand for advanced medical devices will boost microcontroller unit sales.
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Rapid adoption of automation and robotics will elevate microcontroller unit demand. Further, growing popularity of electric vehicles will bode well for the market.
Key Takeaways from Microcontroller Unit (MCU) Market Report:
- Global microcontroller unit (MCU) sales are likely to accelerate at 8.6% CAGR through 2033.
- 32-bit microcontroller unit segment will expand at 8.5% CAGR over the next ten years.
- Demand for microcontroller units in consumer electronics will surge at 8.4% CAGR.
- The United States microcontroller unit market is likely to reach US$ 22.6 billion by 2033.
- Microcontroller unit sales across the United Kingdom will rise at 7.8% CAGR through 2033.
- China microcontroller unit market is forecast to reach US$ 6.1 billion by 2033.
- Microcontroller unit demand in Japan market will increase at 8.1% CAGR through 2033.
“Growing application of microcontroller units in consumer electronics will boost sales. Besides this, rising popularity of autonomous vehicles will bode well for the market”. says a lead Future Market Insights analyst.
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Competitive Landscape
Key companies are launching new products with enhanced features. Further, they are adopting strategies such as mergers & acquisitions to expand their footprint.
Fujitsu Semiconductor Limited, Zilog Inc., Infineon Technologies AG, NXP Semiconductors, Microchip Technology Inc., Renesas Electronics Corporation, TE Connectivity Ltd., STMicroelectronics, Texas Instruments Incorporated, Yamaichi Electronics Co. Ltd.
For instance,
- In November 2022, to accelerate the digital transformation Fujitsu Limited and Settle Mint NV entered into a strategic agreement.
- In March 2017, Analog Devices acquired Linear Technology Corporation- a California-based semiconductor company that manufactures high-performance analogy integrated circuits.
Get More Valuable Insights into Microcontroller Unit Market
Future Market Insights, in its new offering, presents an unbiased analysis of the microcontroller unit market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study reveals extensive growth in microcontroller units in terms of Product (32-bits, 16-bits and 8-bits) and Application (Consumer Electronics, Automotive, Military and Defense, Medical Devices and Industrial) across several regions.
Global Microcontroller Unit Market Segmentation
By Product:
- 32-bit
- 16-bit
- 08-bit
By Application:
- Consumer Electronics
- Automotive
- Military and Defense
- Medical Devices
- Industrial
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ove 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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