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May 19, 2023

Automotive Microcontrollers Market Projected to Grow at a CAGR of 8.20%, Reaching USD 24.8 billion by Forecast 2032

Automotive Microcontrollers Market Growth Boost by Digitally Transformed

Automotive Microcontrollers Market Growth Boost by Digitally Transformed Automobile Industry and High Demand for Safety Features

New York, US, May 25, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), "Automotive Microcontrollers Market Research Report Information By Application, By Technology, By Vehicle Type And By Region –Market Forecast Till 2032", the global automotive microcontrollers market is poised to escalate from USD 12.2 billion in 2022 to USD 24.8 billion by 2032, growing at an 8.20% CAGR during the assessment period (2023-2032).

Automotive Microcontrollers Market Overview

Microcontrollers (MCUs) are witnessing extensive adoption mainly due to upgrades in advanced driver assistance systems (ADAS). Continually evolving ADAS technology offers significant opportunities to the market, presenting a vast scope for technological advancements, partnerships, and innovations. Besides, the complex nature of ADAS substantiates the market revenue. The global automotive microcontrollers market is demonstrating notable revenue growth in the next few years. Rapid developments in the automotive industry and high demand for safety features would drive market growth.

Leading players operating in the automotive microcontrollers market are,

Infineon Technologies AG

Cypress Semiconductor Corporation

Microchip Technology Inc.

On Semiconductor

NXP Semiconductor NV

Renesas Electronic Corporation

Texas Instrument Incorporated

ROHM Semiconductors

STMicroelectronics

Toshiba Corporation

Among others.

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Automotive Microcontrollers Market Competitive Analysis

Several giant players are operating in the global automotive microcontrollers market, forming a competitive landscape. With their strong global presence, these players make the market appear highly competitive and fragmented.

The growing competition among automotive microcontroller providers to develop advanced products drives the market growth. They focus on developing advanced resources to meet the growing global demand. Well-established players incorporate acquisitions, collaborations, partnerships, expansions, and product & technology launches to stay ahead in market competition.

For instance, on Apr.21, 2023, Mouser Electronics (the US), a leading global distributor of semiconductors & electronic components, announced the availability of Microchip Technology's new AVR64EA 8-Bit AVR microcontrollers, suitable for industrial and automotive applications. The AVR64EA microcontrollers are equipped with an AVR CPU with a hardware multiplier, running at clock speeds up to 20MHz.

The AVR64EA microcontrollers (MCUs) provide high-speed, low-power, integrated, analog, and hardware-based core independent peripherals (CIPs), for a wide range of real-time control, sensor node, and secondary safety monitoring, for automotive, industrial, consumer, and applications., available at Mouser Electronics,

Report Scope:

Report Metrics

Details

Market Size 2032

2032: USD 24.8 Billion

CAGR during 2023-2032

8.20% CAGR

Base Year

2022

Forecast

2023-2032

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Application, Technology, Vehicle Type, and Region

Key Market Opportunities

Surging demand for hybrid and electric vehicles

Key Market Dynamics

Rapid developments in the automotive industry and high demand for safety features

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Automotive Microcontrollers Market Segments

The global automotive microcontrollers market report is segmented into applications, technologies, vehicle types, and regions. The application segment is sub-segmented into powertrain & chassis, body electronics, safety & security, telematics & infotainment, and others.

Of these, the powertrain & chassis segment accounts for a leading market share due to the growing adoption of microcontrollers in the vehicle's powertrain and chassis to improve their performance. Automotive microcontrollers are used in a wider range of applications due to their ability to lower fuel consumption and support the operations of numerous other vehicle features like an advanced driving system.

The technology segment is sub-segmented into blind spot detection systems, park assist systems, adaptive cruise control, and tire pressure monitoring systems. The adaptive cruise control technology holds the largest market share due to its ability to automatically control/change the vehicle's speed according to the vehicle in front of it.

These systems identify obstacles using radar or laser sensor technology, enabling vehicles to change their speed in response to the environment. A car with adaptive cruise control has better control over its speed or traction, particularly on highways. Several countries have made technology a standard in cars to lower the rising number of collisions.

By vehicle types, the market is sub-segmented into passenger ICE, commercial IVE, and electric vehicles. Among these, the passenger ICE vehicle segment holds a significant market share headed by the increasing use of these vehicles for their high seating capacity. Also, relatively higher sales of passenger cars/vehicles than others make a large financial contribution to the automotive industry.

The crucial role it plays in the transportation sector and the rising demand for more efficient vehicles fitted with cutting-edge components will allow the passenger vehicle segment to experience the quickest market growth during the upcoming period. By regions, the automotive microcontroller market is segmented into North America, Europe, Asia-Pacific, and rest-of-the-world (RoW).

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Automotive Microcontrollers Market Regional Analysis

North America dominates the global automotive microcontrollers market. The presence of many key automotive microcontroller manufacturers and significant investments made by them in developing and adopting technologies are major growth drivers.

Manufacturers focus on newer technologies that can be incorporated into high-performance microcontrollers, promoting real-time control, networking, and analytics applications in future vehicles. The US holds the largest share, while Canada is emerging as a promising market for automotive microcontrollers in North America.

Europe is another lucrative market for automotive microcontrollers globally due to its huge automobile industry. Governments in many European countries have introduced laws and regulations for automotive safety. Moreover, the growing adoption of autonomous vehicles boosts the region's market share. European firms emphasize the development of microcontrollers, leading to local market expansion. Germany is the largest, while the UK is the rapidly growing market for automotive microcontrollers.

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The automotive microcontrollers market is brisk in the Asia Pacific region. Top market participants in this region are concentrating on developing and implementing cutting-edge automotive technologies and electronics, which creates vast demand for microcontroller integration. They strive to introduce the next generation of microcontrollers by employing a novel process technology with better security and functional safety features, as well as a built-in flash memory. China is the largest, while India is the rapidly growing market for automotive microcontrollers in Asia-Pacific.

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