Microcontroller Market size was over USD 29.6 Billion in 2023 and is poised to exceed USD 101.2 Billion by the end of 2036, growing at over 10.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of microcontroller is estimated at USD 32.6 Billion.
The microcontroller market is growing as a result of the rise in healthcare expenditure, driven by an increasing prevalence of immunodeficiency disorders coupled with the presence of co-morbidities such as high blood pressure and diabetes. In 2020, a National Institutes of Health report stated that globally about 6 million people suffer from primary immunodeficiencies, out of which about 70% remain undiagnosed. Moreover, this will boost the demand for electronic medical devices for measuring sugar levels and blood pressure, thereby driving the growth in dependable and affordable medical equipment worldwide.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.7% |
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Base Year Market Size (2023) |
USD 29.6 billion |
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Forecast Year Market Size (2036) |
USD 101.2 billion |
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Regional Scope |
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Product (8-Bit, 16-Bit, 32-Bit, 64-Bit)
32-Bit segment is estimated to dominate over 40.1% microcontroller market share by 2036. The segment's tremendous growth rate can be augmented by its several features, such as higher input and output peripherals, high scalability, low power consumption, and mini footprints compared to several other MCUs in the industry.
A recent report by Research Nester concluded that 32-bit microcontrollers will dominate the landscape, credited to the increase in IoT devices, their high-performance computing technological advancements, and the tremendous growth in the automotive and smart home sectors.
Application (Automotive, Consumer Electronics & Telecom, Industrial, Embedded Systems, Medical Devices, Aerospace & Defense)
Automotive segment in the microcontroller market is set to showcase over 11.8% growth rate between 2024 and 2036, in connection with the microcontroller revenue share attributed to the lucrative influence of smart vehicles and their technological features such as advanced safety systems, telematics, in-vehicle infotainment systems, instrument clusters, and many more. According to a report by the International Energy Agency in 2024, the sales of electric cars were 3 million higher than the sales in 2022, which is about 5 times more than in 2018. This is set to grow at a rate of 35.0% per year.
Our in-depth analysis of the global microcontroller market includes the following segments:
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Product |
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Application |
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APAC Market Statistics
Asia Pacific microcontroller market is anticipated to grow at over 12.5% CAGR between 2024 and 2036. The landscape's substantial growth in the region is led by the surge in the presence of raw materials coupled with the availability of low-cost labor in this region. According to a report in 2023, Asia dominated the global goods trade by 53%.
In China, there is an increasing demand for automobiles propelled by several features such as ADAS, safety features, and many more, which fuel the microcontroller landscape. According to the Shanghai Municipal People’s Government in 2023, vehicle sales and production hit more than 480,000 units, with a lucrative growth rate of 46.3% every year.
Japan showed an increase in the wearable technology industry along with the digital health in past years which is expected to act as a growing factor for the microcontroller market in the near future. The International Trade Administration published a report in 2022 stating that about 37% of Japan’s population uses digital technology in health-related concerns and the health-tech market in Japan is predicted to cross 3 billion by 2025.
North American Market Analysis
North America in microcontroller market is estimated to capture over 26% revenue share by 2036, and will account for the second position owing to the slated growth in the Internet of Things (IoT) in homes and corporate places. According to researchers at Research Nester, in 2023 it was found that more than 40% of households in the United States owned at least one smart home device in 2021, and this data is set to surpass 48% by 2025.
In the United States, there has been an increase in technological advancements in semiconductors coupled with their components. According to the Semiconductor Industry Association in 2024, there has been a year-on-year increase of about 4.3% in the semiconductor employment rate. The semiconductors sector offered approximately 203,000 employment opportunities in 2023.
There is an increasing need for medical devices in Canada which demands a surge in the microcontroller market in the coming years. According to Innovation, Science, and Economic Development Canada in 2024, medical device exports in Canada observed a substantial growth between 2017 and 2022 and crossed USD 5.5 billion.
Microcontroller market expansion is predicted that the top five companies will occupy about 20%. Most of these companies are continuously expanding, collaborating, and adopting joint venture strategies to strengthen their position in the market. Some of the key players include:
Author Credits: Abhishek Verma
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