Microcontroller Market 2023 | Industry Growth, Share, Size and Forecast 2028

According to the latest report by IMARC Group, titled, “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global microcontroller market size reached US$ 24.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.5 Billion by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.

A microcontroller is a small microcomputer that is designed to perform particular tasks in an embedded system. It comprises a processor, program or data memory, and input and output (I/O) peripherals on a single chip. It is easy and simple to use and widely available as bus-width, 8-bits, 16-bit, and 32-bit. It assists in reducing the cost and size of the system and requires less time for performing operations. As a result, microcontrollers are widely employed in vehicles, robots, medical devices, mobile radio transceivers, printers, fire detection devices, vending machines, TV, microwave, and air conditioners (ACs) across the globe.

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Microcontroller Market Trends and Drivers:

At present, the increasing demand for microcontrollers in numerous electronic medical devices to measure oxygen levels, blood pressure, temperature, and sugar levels while offering accurate information represents one of the key factors contributing to the market growth. Besides this, the growing use of microcontrollers in consumer electronics around the world is offering a positive market outlook. Apart from this, the rising awareness about smart energy management, along with the emergence of smart grids, is propelling the growth of the market. Moreover, various benefits offered by microcontrollers, such as cost-effectiveness, low operational timings, and the ability to perform multiple tasks at a time, are bolstering the growth of the market. Furthermore, the increasing demand for advanced microcontrollers in electric and automated cars is strengthening the market growth.

Microcontroller Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

• The competitive landscape of the industry has also been examined along with the profiles of the key players.

The report has segmented the market based on product type, architecture, memory and application.

Breakup by Product Type:

• 8-Bit
• 16-Bit
• 32-Bit
• 64-Bit
• Others

Breakup by Architecture:

• 8051 Architecture
• AVR Architecture
• PIC Architecture
• ARM Architecture
• Others

Breakup by Memory:

• Embedded Memory Microcontroller
• External Memory Microcontroller

Breakup by Application:

• Automotive
• Powertrain and Chassis
• Body Electronics
• Safety and Security Systems
• Infotainment and Telematics
• Consumer Devices
• Industrial
• Others

Breakup by Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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