The demand for consumer electronic devices is rising globally. It has created an impact on the microcontroller market. The rising ownership of smartphones, laptops, wearable devices, tablets, and other gadgets such as smartwatches and smart helmets is boosting the growth of the global microcontroller unit market. However, the major challenges faced by the market include the miniaturization of electronic devices responsible for the increased complexity in the circuit designing. Apart from this, miniaturization is also responsible for increased engineering and research and development costs, which are adversely affecting the microcontroller unit market.
The Global Microcontroller Unit (MCU) Market has been segmented based on class and application.
On the basis of class, the market has been segmented into 4-bit, 8-bit, 16-bit, and 32-bit. The 8-bit segment dominated the market in 2018, whereas the 16-bit segment is expected to register the highest CAGR during the forecast period from 2019 to 2025.
Based on application, the market has been segmented into consumer electronics, automotive, industrial manufacturing, communication and IT, and others. The automotive segment is expected to dominate the review period; it is expected to register the higher CAGR during the forecast period.
The key players in the microcontroller unit (MCU) market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are NXP Semiconductor, Renesas Electronics Corporation, Microchip Technology, Silicon Labs Inc, Infineon Technologies AG, Texas Instruments Inc, Cypress Semiconductor, Maxim Integrated, Toshiba Corporation, Intel Corporation, Parallax, and Analog Devices Inc. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 25–30% in the microcontroller unit (MCU) market.
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On the basis of geography, the market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Central & South America. The significant presence of semiconductor and electronic component manufacturers, growing demand for electronic gadgets, smartphones, and other devices, rising development in electric and autonomous vehicles, and favorable initiatives by the governments for the deployment of smart homes and smart cities are the factors boosting the market in Asia-Pacific. North America holds the largest market share due to wide applications of microcontrollers across several industry verticals such as healthcare, automotive, consumer electronics, and manufacturing. The microcontroller unit has also registered rapid development and advancements in electric vehicles and autonomous vehicles. Moreover, the increasing adoption of electronic equipment for consumer electronics and medical applications has increased the demand for microcontrollers and microprocessors manufacturing. The US generates most of its revenue from providing different industry verticals. In recent years, the government launched several light control projects which include road lighting, smart lighting control systems that mainly use microcontrollers for its core operation.