San Francisco, Dec. 24, 2015 (GLOBE NEWSWIRE) --
The global microcontroller market is expected to reach USD 26.98 billion by 2020, according to a new study by Grand View Research, Inc. Advancement in Internet of Thing (IoT) applications in order to build smart devices is expected to drive the industry demand over the next six years. Surging demand for automation across several end-use industries including industrial, automotive and consumer electronics is anticipated to further catapult MCU demand. Growing adoption of connected cars in several developing regions such as Asia Pacific may positively impact MCU market growth
Development several wireless communication products such as Near Field Communication (NFC), Bluetooth, and ZigBee constitute MCUs. Large scale migration from conventional to smart grid and better regulatory scenario in order to produce energy efficient electricity is expected to boost industry demand over the forecast period. This is also anticipated to be a key growth opportunity for industry participants.
Browse to access In-depth research report on Global Microcontroller Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/microcontroller-market
Further key findings from the study suggest:
- 32-bit microcontroller market is anticipated to dominate demand with over 34% share in 2013; the segment is further expected to exhibit substantial growth in terms of revenue over the next six years. 32-bit microcontroller provides high performance, greater on-chip memory, and peripheral integration as well as communication interface. Increasing regulations and standards for emissions may further positively impact segment growth.
- Automotive segment accounted for more than 30% of the share in 2013, and is expected to dominate the MCU industry over the next six years. This can be attributed to the growing adoption of hybrid and electric vehicle and growing need for energy efficient design in countries with stringent emission laws.
- Consumer electronics is expected to exhibit substantial growth and occupy sizable market share over the next few years. Smartphone proliferation is expected to be the key driver for industry growth. Surge in adoption of smart and connected devices for better and healthy living may further increase demand over the forecast period.
- Asia Pacific is expected to dominate MCU industry over the next six year. The region is also anticipated to witness substantial growth. It accounted for over 35% of the market volume in 2013. Industrialization in China and India is expected to be the key contributing factor for this growth. Smartphone proliferation and growing development of smart and connected cities is expected to further catalyze regional growth.
- Prominent industry participants include STMicroelectronics, Renesas Electronics Corporation, Microchip Technology, Inc., Infineon Technologies, Fujitsu Semiconductor, Freescale Semiconductor, and Atmel Corporation.
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Grand View Research has segmented the global microcontroller market on the basis of product, application and region:
Microcontroller Product Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
- 4/8-bit microcontrollers
- 16-bit microcontrollers
- 32-bit microcontrollers
Microcontroller Application Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
- Consumer Electronics
Microcontroller Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
- North America
- Asia Pacific
- Latin America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research