According to forecasts, the market for microcontroller unit market would grow to 30.9 billion in 2023. Between 2023 and 2033, global sales of microcontroller units will increase at a CAGR of 8.6%. The global market for microcontroller units will top US$ 70.6 billion by the end of 2033.
The demand for 32-bit microcontrollers is still quite high worldwide. Between 2023 and 2033, the target segment is anticipated to grow at a CAGR of 8.5%.
The global market is being driven by expanding applications in the consumer electronics and automotive sectors. Sales will also increase as digitalization and electrification become more widespread.
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Input-output devices, processing units, and input/output devices are all programmable in a basic microcontroller. These microcontrollers are capable of doing processor-like tasks. o give and receive commands, they do have sophisticated portions, though.
Many different businesses, including consumer electronics, use microcontroller units. They are now essential parts of contemporary electrical machinery and technology.
Medical equipment uses microcontrollers like the PIC18F-Q40 in a number of different ways. Thermometers and systems for monitoring blood pressure also employ microcontrollers from the STM32 series. Thus, increasing demand for cutting-edge medical technology will increase microcontroller unit sales.
The rapid use of automation and robotics will increase the demand for microcontroller units. Furthermore, the market would benefit from the rising popularity of electric automobiles.
Key Takeaways from Microcontroller Unit (MCU) Market Report:
Global microcontroller unit (MCU) sales are likely to accelerate at 8.6% CAGR through 2033.
32-bit microcontroller unit segment will expand at 8.5% CAGR over the next ten years.
Demand for microcontroller unit in consumer electronics will surge at 8.4% CAGR.
The United States microcontroller unit market is likely to reach US$ 22.6 billion by 2033.
Microcontroller unit sales across the United Kingdom will rise at 7.8% CAGR through 2033.
China microcontroller unit market is forecast to reach US$ 6.1 billion by 2033.
Microcontroller unit demand in Japan market will increase at 8.1% CAGR through 2033.
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Competitive Landscape
Key companies are launching new products with enhanced features. Further, they are adopting strategies such as mergers & acquisitions to expand their footprint.
Fujitsu Semiconductor Limited, Zilog Inc., Infineon Technologies AG, NXP Semiconductors, Microchip Technology Inc., Renesas Electronics Corporation, TE Connectivity Ltd., STMicroelectronics, Texas Instruments Incorporated, Yamaichi Electronics Co. Ltd.
For instance,
In November 2022, to accelerate the digital transformation Fujitsu imited and Settle Mint NV entered into a strategic agreement.
In March 2017, Analog Devices acquired Linear Technology Corporation- a California-based semiconductor company that manufactures high-performance analogy integrated circuits.
Get More Valuable Insights into Microcontroller Unit Market
Future Market Insights, in its new offering, presents an unbiased analysis of the microcontroller unit market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study reveals extensive growth in microcontroller units in terms of Product (32-bits, 16-bits and 8-bits) and Application (Consumer Electronics, Automotive, Military and Defense, Medical Devices and Industrial) across several regions.
Global Microcontroller Unit Market Segmentation
By Product:
32-bit
16-bit
08-bit
By Application:
Consumer Electronics
Automotive
Military and Defense
Medical Devices
Industrial
By Region:
North America
Europe
Asia Pacific
Latin America
Midde East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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