Automotive Microcontroller Market Expected to Reach USD 31.7 Billion by 2034, Driven by an 8.27% CAGR | FMI Reports

Automotive Microcontroller Market
Automotive Microcontroller Market

The automotive microcontroller market is projected to reach a valuation of USD 14.32 billion in 2024, with an anticipated compound annual growth rate (CAGR) of 8.27% from 2024 to 2034. By 2034, the market is expected to expand to approximately USD 31.7 billion. This growth is driven by the implementation of mandatory safety standards across various countries and the increasing reliance of vehicle electric control units on advanced microcontrollers for precise fuel injection, ignition timing, and overall engine performance enhancement.

Key Insights from the Automotive Microcontroller Market Report:

  • The market is forecasted to experience an absolute growth of USD 17.5 billion over the next decade.
  • The United States currently leads in the production of automotive microcontrollers, with a projected CAGR of 6.4% from 2024 to 2034.
  • Germany is the primary supplier of automotive microcontrollers in Europe and is expected to grow at a rate of 5.1% during the forecast period.
  • China is anticipated to dominate the automotive microcontroller market with a robust CAGR of 12.1% through 2034.
  • India is emerging as a significant market for automotive microcontrollers, with a projected growth rate of 11.1% over the next decade.
  • The automotive microcontroller industry in Australia is likely to expand at an annual rate of 8.7% until 2034.

Detailed Market Study: Full Report and Analysis

Competitive Landscape:
The overall market is turning competitive gradually with the emergence of new market players in emerging economies like China and India. However, top automotive microcontroller manufacturers still hold a significant share of the global owing to their long-term collaborations with automotive manufacturers.

Leading Key Players:

  • Texas Instruments Incorporated
  • NXP Semiconductors NV
  • STMicroelectronics NV
  • Microchip Technology Inc.
  • Renesas Electronics Corporation
  • Silicon Labs Private Limited
  • Fujitsu Limited
  • Maxim Integrated Products, Inc.
  • Infineon Technologies
  • Toshiba Corporation

Recent Developments:

  • In August 2023, ARTERY Technology entered the automotive MCU market with the debut of its first automotive-grade microcontroller, the AT32A403A. This new series of automotive control chips completed qualification tests such as the accelerated environmental stress test and the accelerated lifespan simulation test in accordance with the AEC specification. Moreover, the package assembly integrity test and the electrical verification test were also certified in accordance with the automotive standard AEC-Q100 Grade 2.
  • In June 2023, Cortus’s Safe, a fabless semiconductor manufacturing company based in  France, introduced low-power RISC-V automotive microcontrollers (MCUs) and announced today by forward-thinking. Cortus ULYSS series satisfies all technological requirements for the various classes of automotive electronic systems by utilizing process technologies. The process technology ranges from 130nm to 12nm, single to eight-core designs, all with floating points and CAN, and clock rates from 240MHz to 1.5GHz. The safety certifications and standards it adheres to include ISO 26262 ASIL-B, ASIL-D, IEC 61508/62061, AEC-Q100/1, AUTOSAR, ISO/SAE 21434, and others.

Automotive Microcontroller Market Segmentation:

By Material Type:

  • Tinned Steel
  • Nickel-Cobalt Ferrous Alloy
  • Copper Alloy

By Vehicle Type:

  • Compact Passenger Cars
  • Mid-sized Passenger Cars
  • Premium Passenger Cars
  • Luxury Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Electric vehicle

By Application:

  • Advanced Driver Assistance System
  • Parking Assist System
  • Brake control system
  • Electric Control Suspension
  • Airbags
  • Functional Safety Technology
  • Transmission Control
  • Start-Stop System
  • Electronic Power Steering System
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa (MEA)

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 over 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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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