Microcontrollers market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. The rising demand from the medical sector for electronic medical devices to measure oxygen levels, blood pressure, temperature, and sugar levels and others is growing the market for microcontrollers. In addition the rising number of patients of diabetes, high blood pressure and other diseases is fuelling the demand for medical devices which further increases the demad for microcontrollers as these are used in these medical devices for providing better functioning and providing accurate results. According to American Diabetes Association (ADA) data, In 2019, 37.3 million US people, or around 11.3% of the population, had diabetes, nearly 1.9 million peple in US have type 1 diabetes, including about 244,000 children and adolescents. Around 1.4 million US people are diagnosed with diabetes every year. Now a days youths are also getting diabetes, around 283,000 people in US under age 20 are anticipated to have diagnosed diabetes, approximately 0.35% of population. Hence these increasing diseases in supporting the growth of the microcontrollers, as medical devices need these microcontrollers in devices to provide accurate results and better experience.
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The global microcontrollers market is segmented based on type, and application. Based on type, the market is segmented into 8-Bit, 16-Bit, and 32-Bit. Based on application, the market is sub-segmented into automotive, consumer electronics, industrial, medical devices, and other. The above mentioned segments can be customized as per the requirements. Based on type the 32-Bit segment is anticipated to grow at the fastest rate during the forecast period across the globe. Owing to feature that 32-bit technology simplifies the product design and lowers the material costs, and it has 32 pathways in parallel for data transmission and is more frequently used in automobile sector. A 32-bit microcontrollers unit (MCU) can handle a quadruple amount of data, making it technically more data-efficient. 32-bit MCUs have a higher processing power and consume less power than their counterparts. Furthermore, the increasing popularity of 32-bit MCUs owing to the decreasing unit price is expected to drive the segment further. Furthermore the increasing advancement in EV vehicles and sales of EV vehicles is also supporting the growth of the microcontrollers as these 32-Bit MCU are used more in autombobile industry.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Microcontrollers Market Report Segment
By Type
- 8-Bit
- 16-Bit
- 32-Bit
By Application
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices,
- Other
Global Microcontrollers Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global microcontrollers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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