The global microcontroller market size is predicted to attain USD 36.16 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to progress at a CAGR of 10.1% from 2021 to 2028. Globally, more than 28 billion units of microcontrollers were shipped in 2020. The market growth is attributable to the increasing focus on automation and artificial intelligence across various verticals such as automotive and industrial. Increasing demand for embedded control systems in multifunctional devices such as vehicles, robots, medical devices, mobile radio, residential appliances, among others, is also playing a principal role in the growth of the market.

However, the market has witnessed a downfall in revenue owing to the adverse effects of the COVID-19 pandemic. The leading companies, such as Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, and STMicroelectronics, have witnessed a significant fall in revenues in the first two quarters of 2020. However, as the lockdown restrictions are gradually getting lifted, manufacturing facilities across the globe are reopening with a limited workforce. Further, as the automotive and industrial factories worldwide are reopening, the demand for microcontrollers is expected to grow steadily from 2021 to 2028.

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Microcontroller Market Report Highlights

• The 32-bit microcontroller is anticipated to emerge as the fastest-growing product segment over the forecast period owing to its ability to offer high computational power. Technological developments in the production of semi-autonomous and fully autonomous driving systems also require 32-bit microcontrollers, thus driving the product segment
• The consumer electronics and telecom application segment dominated the global market in 2021. The development of microcontrollers integrated with the Near-Field Communication (NFC), Bluetooth, and ZigBee, among other wireless interfaces is expected to positively impact the global market. The favorable regulatory scenario for the installation of smart grid systems is expected to boost microcontrollers’ demand over the forecast period
• Asia Pacific dominated the market in 2021. It is anticipated to witness significant demand, particularly in India and China, because of the availability of high-end luxury as well as economy vehicles. The increasing labor cost in China would result in the increasing automation of industrial processes, which is likely to propel the market demand over the projected period
• Factors such as the Brexit and U.S.-China trade war have led to declining market conditions. New American tariffs on Chinese goods and a slowdown in the Chinese economy are the major factors affecting the steady growth of the market

Key Companies & Market Share Insights

The top five participants accounted for more than 50.0% share in the market in 2021. The players are actively engaged in collaborations and partnerships to develop new products. For instance, in Nov 2020, Renesas Electronics Corporation in collaboration with ALTRAN, an engineering and R&D service provider (A Capgemini Subsidiary), developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology. The wristwatch is integrated with the Renesas Synergy S128 MCU featuring HMI capacitive touch with licensed secure ranging UWB technology. Some prominent players in the global microcontroller market include Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated

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