Market Research Future (MRFR) has published a “Global Automotive Microcontrollers Market”
MRFR recognizes the following companies as the key players in the global automotive microcontrollers market— Cypress Semiconductor Corporation, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor N.V., On Semiconductor, Renesas Electronic Corporation, STMicroelectronics, Texas Instrument Incorporated, Toshiba Corporation, ROHM Semiconductors.
The global automotive microcontrollers market is accounted to register a CAGR of 8.20% during the forecast period and is estimated to reach USD 24.7 Billion by 2032.
Owing to the growing popularity of electronic components in cars and the need to do away with bulky wires, the market for automotive microcontrollers is expanding. The market for automotive microcontrollers is also growing as a result of rising consumer demand for expensive, energy-efficient cars. The market is also developing as a result of the increased need for microcontrollers, which perform optimally in managing all of a vehicle's components to deliver better driving experiences.
Integrated chips with a CPU, memory, input/output, and peripherals are known as microcontrollers. They are inserted into equipment, remote controls, electronics, and other automatically operated devices. The efficient administration of a number of intricate components in automobiles is made possible by the use of microcontroller technology, which enhances the driving experience for drivers. Because of developments in the automation industry and the introduction of sophisticated driving systems, the use of automotive microcontrollers has increased.
The global automotive microcontrollers market has been segmented based application, technology and vehicle type.
On the basis of application, the market is segmented into powertrain & chassis, safety & security, body electronics, telematics & infotainment and others. The telematics & infotainment segment was attributed to holding the largest market share in 2022.
Based on technology, the global automotive microcontrollers market has been segmented into park assist system, blind spot detection system, adaptive cruise control, and tire pressure monitoring system. The Adaptive Cruise Control segment was expected to hold the largest market share in 2022.
Based on vehicle type, the global automotive microcontrollers market has been segmented into passenger ICE vehicle, commercial IVE vehicle, and electric vehicle. The passenger ICE vehicle segment was expected to hold the largest market share in 2022.
The global automotive microcontrollers market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe automotive microcontrollers market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The automotive microcontrollers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World automotive microcontrollers market comprises of Middle East, Africa, and Latin America.
The largest market share for automotive microcontrollers was maintained by the North American regional sector. One of the main reasons is the presence of a large number of automotive manufacturers in the region, who are focused on providing advanced features in their vehicles. These advanced features require microcontrollers, driving the demand for automotive microcontrollers in the region.
Moreover, The European automotive microcontrollers market is a mature market and has been growing steadily over the years. The market is driven by the demand for advanced features in vehicles such as advanced driver assistance systems (ADAS), infotainment systems, and electric and hybrid vehicles.
The APAC region is growing at the fastest CAGR in the automotive microcontrollers market. This growth can be attributed to several factors. Firstly, the increasing demand for electric and hybrid vehicles in the region is driving the growth of the market. Additionally, the rising disposable income of consumers in APAC is leading to an increase in the demand for luxury vehicles and advanced features such as ADAS and infotainment systems, which require microcontrollers. Furthermore, the presence of several key players in the region such as Samsung, Toshiba, and Mitsubishi Electric is also driving the growth of the market..
Furthermore, the rest of the world's automotive microcontrollers market is divided into the Middle East, Africa, and Latin America. In the MEA region, the market for Automotive Microcontrollers is expected to grow due to the increasing demand for electric vehicles and advanced driver assistance systems (ADAS). In the LATEM region, the growth of the Automotive Microcontrollers market is being driven by the increase in the production of vehicles and the adoption of electric vehicles.
Key Findings of the Study