Microcontrollers market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. The rising demand from the medical sector for electronic medical devices to measure oxygen levels,  blood pressure, temperature, and sugar levels  and others is growing the market for microcontrollers.  In addition the rising number of patients of diabetes, high blood pressure and other diseases is fuelling the demand for medical devices which further increases the demad for microcontrollers as these are used in these medical devices for providing better functioning and providing accurate results.  According to American Diabetes Association (ADA) data, In 2019, 37.3 million US people, or around 11.3% of the population, had diabetes, nearly 1.9 million peple in US have type 1 diabetes, including about 244,000 children and adolescents. Around 1.4 million US people are diagnosed with diabetes every year. Now a days youths are also getting diabetes, around 283,000 people in US under age 20 are anticipated to have diagnosed diabetes, approximately 0.35% of population. Hence these increasing diseases in supporting the growth of the microcontrollers, as medical devices need these microcontrollers in devices to provide accurate results and better experience.

Segmental Outlook 

The global microcontrollers market is segmented based on type, and application. Based on type, the market is segmented into 8-Bit, 16-Bit, and 32-Bit. Based on application, the market is sub-segmented into automotive, consumer electronics, industrial, medical devices, and other. The above mentioned segments can be customized as per the requirements. Based on type the 32-Bit segment is anticipated to grow at the fastest rate during the forecast period across the globe. Owing to feature that 32-bit technology simplifies the product design and lowers the material costs, and it has 32 pathways in parallel for data transmission and is more frequently used in automobile sector. A 32-bit microcontrollers unit (MCU) can handle a quadruple amount of data, making it technically more data-efficient.  32-bit MCUs have a higher processing power and consume less power than their counterparts. Furthermore, the increasing popularity of 32-bit MCUs owing to the decreasing unit price is expected to drive the segment further. Furthermore the increasing advancement in EV vehicles and sales of EV vehicles is also supporting the growth of the microcontrollers as these 32-Bit MCU are used more in autombobile industry.

Regional Outlooks

The global microcontrollers market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement.The North America is anticipated to grow at the fastest rate during the forecast period owing to the growing number of IoT ecosystems in homes and corporate places in North America.  It is a broad network of connected and interdependent devices and technologies. It has led to the increase in the demand for smart electricity gadgets, sensors, medical devices, smart wearables, and other IoT-enabled devices from consumers, which is expected to grow the North American market over the forecast period. According to National Library of Medicine data, around 30% of US adults use wearable health care devices to track their health. Among the users, nearly half use the devices every day, with a majority  willing to share the health data from wearables with their care providers.  Advances in wireless sensors and digital technologies have led to a increase in wearable health care devices with which users can examine, monitor, and track their physiological health. Hence the demand for smart wearables will increases the demand for microcontrollers which will boost  the market in North America. 

Global Microcontrollers  Market Growth, by Region 2022-2028

The Asia-Pacific Region is Expected to Hold the Considerable Share in the Global Microcontrollers Market during the Forecast Period. 

The Asia-Pacific region is expected to hold the considerable share in the global microcontrollers market during the forecast period. The rising population and increasing disposable income and standard of living of the people in the region is fuelling the market, as people tend to purchase more when they have enough money.  According to The World Bank data, in 2021 India’s GDP per capita was around US $2,277.4.  Per capita gross domestic product measures a country's economic output per person, it also shows the growing economy, country’s internal growth, prosperity and standard of living, which encourages the people to purchase more. Furthermore the increasing population also , supports the demand for microcontroller. As the population increases demand for devices and other advanced devices increases. According to UN 61% of the global population lives in Asia (4.7 billion). China (1.44 billion) and India (1.39 billion) remain the two most populous countries of the world, both with more than 1 billion people, representing 19% and 18% of the world’s population, respectively. Around 2027, India is projected to overtake China. Hence increasing population and increasing disposable income will boost the demand for microcontrollers in the forecast period.

Market Players Outlook

The major companies serving the global microcontrollers market include Toshiba Electronic Devices & Storage Corp., Intel Corp., Microchip Technology Inc., Renesas Electronics Corp., Texas Instruments Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in Nov 2020, Renesas Electronics Corp. in collaboration with ALTRAN, developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology. The wristwatch is integrated with the Renesas Synergy S128 MCU featuring HMI capacitive touch with licensed secure ranging UWB technology.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global microcontrollers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.