Microcontroller Market Size was valued at USD 26,377.8 million in 2023. The Microcontroller market industry is projected to grow from USD 29,628.7 million in 2024 to USD 77,102.5 million by 2032, exhibiting a compound annual growth rate (CAGR) of 12.7% during the forecast period (2024 - 2032). Growing demand from medical and automotive sectors and increasing adoption of smart meters in smart grid systems are the key market drivers boosting the growth of the Microcontroller market.
FIGURE 1: MICROCONTROLLER MARKET SIZE 2019-2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Since data processing for AI applications is done at the device level, faster response times and enhanced security for sensitive applications are possible. AI on microcontrollers also opens the door for intelligent devices in places with limited power or internet access. For instance, AI-powered agricultural sensors could analyse soil composition without requiring a constant cloud connection. Many AI applications rely significantly on cloud computing, which can increase latency and raise security problems.
Companies that integrate AI capabilities directly into microcontrollers may be able to save money on the additional hardware or external processing units required for AI operations. This may make AI applications more accessible to a broader range of businesses and uses.
AI-enabled microcontrollers enable edge computing, which involves processing data locally on the device rather than sending it to a central server. This lowers latency and bandwidth needs, making it perfect for real-time applications like driverless vehicles, industrial automation, and IoT devices. AI in microcontrollers enables the customisation of algorithms to suit unique applications. Developers can tweak algorithms to maximize task performance, resulting in more efficient and tailored solutions. AI features improve the capability of microcontrollers, allowing them to do complicated tasks like image recognition, natural language processing, predictive maintenance, and more.
Based on Class, the Microcontroller Market segmentation includes 4 to 8-Bit, 16-Bit, 32-Bit, 64-Bit, and Others. In 2023, 64-Bit dominated the market, accounting for around 34.0% of revenue. This is especially important for memory-intensive applications like huge databases or sophisticated computational operations. In general, 64-bit microcontrollers can outperform 32-bit microcontrollers due to their wider data routes and greater register sizes. This enables faster arithmetic and processing of big data collections. 64-bit microcontrollers are better suited for multitasking than 32-bit microcontrollers due to their enhanced processing capability and memory capabilities. This implies users can run numerous applications concurrently without substantial performance loss or slowdowns.
FIGURE 2: MICROCONTROLLER MARKET, BY CLASS, 2023 VS 2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Application, the Microcontroller Market segmentation includes Consumer Electronics, Automotive, Industrial Manufacturing, Communication and IT, and Others. In 2023, communication and information technology accounted for the largest share. Microcontrollers are crucial components in a variety of communication and information technology devices, allowing them to perform complicated tasks effectively. Microcontrollers are used in routers, switches, access points, and other networking equipment to process data, manage communication protocols, and provide security. Microcontrollers are used in hard disk drives, solid-state drives, and other storage devices to manage flash memory, control data flow, and remedy errors. Microcontrollers are used in base stations, mobile switching centers, and other types of telecom infrastructure to process signals, route calls, and manage power. The growing demand for high-speed data connection, the proliferation of linked devices as a result of the Internet of Things (IoT), and the increasing acceptance of cloud computing are all driving the expansion of the communication and IT microcontroller market.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and South America. In 2023, the Asia-Pacific Microcontroller market accounted for around 46.2%. The Asia-Pacific Microcontroller market is rapidly expanding, driven by rising living standards in countries such as China, India, Malaysia, and Thailand, which are focusing on modernizing a wide range of materialistic products such as automated cars, advanced consumer electronics, automated equipment, and advanced medical devices.
The Asia-Pacific area is home to some of the world's major semiconductor manufacturers, including TSMC, SMIC, SK, and Hynix, which helps to drive market expansion. In addition, the region is seeing an increase in Internet of Things (IoT) connectivity in both the consumer and commercial sectors. The growing demand for low-power, high-performance, and energy-efficient linked goods is a primary driving force in the region's IoT microcontroller market. Several companies are actively working in developing improved products to fulfil this growing need. TSMC alone produces more than 70% of the global microcontrollers sold by major market participants such as NXP Semiconductors, Texas Instruments, and STMicroelectronics. Furthermore, regional manufacturers such as Foxconn, MediaTek, and Qualcomm, among others, play important roles in promoting the region's growth.
FIGURE 3: MICROCONTROLLER MARKET SIZE BY REGION 2023 VS 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the major countries studied in the market report are the U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, and South Korea.
North America is predicted to have the second-largest market share, owing to strong consumer demand for items such as tablets, smartphones, and other consumer electronics in the region. Furthermore, the growing market for smart wearables, medical devices, sensors, and IoT-enabled products in the United States and Canada drives up demand for microcontrollers. Industrial automation is another business that is helping to grow the market in this area. Mitsubishi Electric & Electronics USA Inc. has introduced CAN microcontroller families in the North American market, ranging in size from 8 to 32 bits and all focused at automotive industry applications.
With a strong presence across different verticals and geographies, the Microcontroller market is highly competitive and dominated by established, pure-play vendors. Over 9 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Microcontroller market is highly competitive, with many vendors offering similar products and services.
The major players in the market include Texas Instruments Incorporated, Microchip Technology, Broadcom Inc., ROHM Co., Ltd, Renesas Electronics Corp, Infineon Technologies AG, STMicroelectronics N.V, NXP Semiconductors NV, and Toshiba Electronic Devices & Storage Corporation Industries Corporation constantly takes on new challenges to ensure the stability of its management foundation by extending its reach into business fields such as engine production, vehicle assembly, and the development and production of lift trucks and car air-conditioning compressors. It concentrates on broadening its product offerings to reach new audiences in the global market.
The Microcontroller Market is consolidated, increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 26,377.8 Million |
| Market Size 2024 | USD 29,628.7 Million |
| Market Size 2032 | USD 77,102.5 Million |
| Compound Annual Growth Rate (CAGR) | 12.7% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2023 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Class and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, MEA, and South America |
| Countries Covered | US, Canada, Mexico, Germany, UK, France, Italy, China, India, Japan, South Korea, UAE, south Arabia, south Africa, Brazil, and Argentina. |
| Key Companies Profiled | Texas Instruments Incorporated, Microchip Technology, Broadcom Inc., ROHM Co., Ltd, Renesas Electronics Corp, Infineon Technologies AG, STMicroelectronics N.V, NXP Semiconductors NV, and Toshiba Electronic Devices & Storage Corporation |
| Key Market Opportunities | Increasing focus on artificial intelligence in Microcontroller |
| Key Market Dynamic | Growing demand from medical and automotive sectors ย ย ย ย Increasing adoption of smart meters in smart grid systems |
Frequently Asked Questions (FAQ) :
The Microcontroller Market size is expected to be valued at USD 26,377.8 Million in 2023.
The global market is projected to grow at a CAGR of 12.7% during the forecast period, 2023-2032.
The Asia pacific had the largest share of the global market.
The key players in the market Texas Instruments Incorporated, Microchip Technology, Broadcom Inc., ROHM Co., Ltd, Renesas Electronics Corp, Infineon Technologies AG, STMicroelectronics N.V, NXP Semiconductors NV, and Toshiba Electronic Devices & Storage Corporation.
64-Bit dominated the market in 2023.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
Get in Touch
ยฉ 2024 Market Research Future ยฎ (Part of WantStats Reasearch And Media Pvt. Ltd.)
