Global Microcontroller Market 2020-2024
Technavio has been monitoring the microcontroller market and it is poised to grow by USD 5.95 bn during 2020-2024, progressing at a CAGR of 6% during the forecast period. Our reports on microcontroller market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing use of microcontrollers in automobiles, increasing demand for IoT devices, and the growth of consumer electronics industry. In addition, increasing use of microcontrollers in automobiles is anticipated to boost the growth of the market as well.
The microcontroller market analysis includes product segment, application segment, and geographical landscapes
Technavio's microcontroller market is segmented as below:
- 32-bit microcontrollers
- 8-bit microcontrollers
- 16-bit microcontrollers
- Consumer devices
- Other applications
By Geographic Landscapes
- North America
- South America
This study identifies the development of edge computing as one of the prime reasons driving the microcontroller market growth during the next few years. Also, adoption of external flash memory for microcontrollers and growing implementation of automation technologies across the industries and the emergence of Industry 4.0 will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our microcontroller market covers the following areas:
- Microcontroller market sizing
- Microcontroller market forecast
- Microcontroller market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading microcontroller market vendors that include Analog Devices Inc., Cypress Semiconductor Corp., Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors NV, Panasonic Corp., Renesas Electronics Corp., Samsung Electronics Co. Ltd., STMicroelectronics NV, and Texas Instruments Inc. Also, the microcontroller market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.