Microcontroller Market Share 2023 | Industry Growth and Forecast 2028

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IMARC Group, a leading market research company, has recently releases report titled, “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global microcontroller market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the microcontroller market?

Report Attributes Details
Market Size in 2022 US$ 24.2 Billion
Market Forecast in 2028 US$ 41.5 Billion
Growth rate (2023 to 2028) CAGR of 10.1%
Base Year of the Analysis 2022
Forecast Period 2023-2028

What is microcontroller?

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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What are the growth prospects and trends in the microcontroller industry?

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.

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Competitive Landscape:

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

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