The global Microcontroller Unit (MCU) Market demonstrates tremendous opportunities, mainly due to the rising sales of electronic goods. Besides, the proliferation of IoT sensors and actuators drives the market growth, linking the physical and digital worlds. Moreover, the increasing miniaturization of IC and microcontrollers escalates the market demand, helping the organization and personnel in their daily activities.
Market Research Future (MRFR) confirms that the global microcontroller unit market is poised to escalate from USD 10.39 BN in 2022 to USD 58.20 BN by 2030, growing at a 24.04% CAGR throughout the forecast period (2023-2030). MCUs have diverse application areas, such as industrial automation, data center & enterprise networking, consumer electronics, automotive, and telecom.
Increasing uptake of the devices in electronics products offers ample scope for growth to the MCU manufacturers. Over recent years, the demand for MCUs to improve the operations of electronic devices has been growing continually. Additionally, the increasing demand for microcontroller units from the medical device, telecom, and automotive industries influences the market growth.
High automation in the automotive sector substantiates the market demand. Simultaneously, the extensive usage of microcontroller units in the healthcare sector for electrocardiography and digital X-ray machines boosts the market size. Also, the innovation of customizable ICs contributes to the growth of the microcontroller unit market.
Conversely, the lack of technical expertise is the major factor forecasted to impede market growth. Nevertheless, the consumer electronics sector would support market growth throughout the assessment period, demonstrating the largest adoption of the microcontroller unit (MCU).
Major Players
Leading MCU market players are
- Renesas Electronics Corporation
- NXP Semiconductor
- Microchip Technology
- Infineon Technologies AG
- Silicon Labs Inc
- Texas Instruments Inc
- Maxim Integrated
- Cypress Semiconductor
- Toshiba Corporation
- Analog Devices Inc.
- Intel Corporation
- Parallax
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Microcontroller Unit (MCU) Market – Segments
The report is segmented into classes, applications, and regions. The class segment is sub-segmented into 4-bit, 8-bit, 16-bit, and 32-bit. The application segment is sub-segmented into consumer electronics, automotive, industrial manufacturing, communication & IT, and others. By region, the MCU market is segmented into the Americas, Asia-Pacific, Europe, MEA, and the rest of the world.
Global Microcontroller Unit Market – Regional Analysis
North America dominates the global microcontroller market due to the growing adoption of new communication network protocols for high data transfer speeds in data centers. Besides, the strong presence of major microcontroller manufacturers and semiconductor research and development centers drives the market growth.
Moreover, enormous technological advances in consumer electronics push the regional market’s growth. Due to the high spending on personal devices and the technology environment, the US and Canada accounts for sizable shares of the regional market. The North American microcontroller unit market will likely retain its dominance throughout the forecast period.
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Global MCU Market – Competitive Analysis
Highly competitive, the MCU market appears fragmented due to the presence of several well-established players. Key strategies traced from recent developments of industry players include agreement & partnership, acquisitions, expansion, and product or technology launch. Players compete based on pricing, technology, reputation, and services.
Industry/ Innovation/Related News:
Mar.16, 2023 — Renesas Electronics Corporation launched two new entry-line low-power RA microcontrollers, the RA4E2 and RA6E2. The new RA microcontroller series offers best-in-class power efficiency and performance for most projects.
These microcontrollers drive cost-efficiency with their lower power draw, impressive connectivity, and up to a 200MHz Cortex-M33 core. Besides, RA4E2 and RA6E2 microcontrollers deliver market-leading performance, features, ease of design, and value.
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