Microcontrollers are manufactured as application-specific integrated circuits to be embedded inside devices they control. Due to this function, MCUs are also referred as embedded controllers. They comprise memory, peripherals, and processors. A majority of the demand witnessed by the market arises from the automotive industry. Growth witnessed in the sales of automobiles will thus prove a strong driving force for the global microcontrollers market. A considerable number of MCUs are required in an average automotive, enabling it to function effectively. With the advent of the novel features such as GPS and keyless entry, the demand for MCUs in the automotive industry is higher than ever.
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While the prevalence of fierce competition could restrict the market’s growth to an extent, the increasing penetration of smart grid systems will enable companies explore regions with lucrative opportunities. Based on aforementioned factors, TMR has estimated the global MCU market to exhibit a moderate CAGR of 4.0% between 2012 and 2018. At this pace the market is projected to reach US$19.5 bn by the end of 2018, from its valuation of US$15 bn in 2011.
Based on application, the global microcontrollers market is segmented into industrial, computer, communications, automotive, and consumer goods. Of these, the automotive industry accounted for the dominant revenue share of 31.4% in the market in 2012. Over the course of the forecast period, the automotive and industrial segments are projected to gain increased market share.
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A paradigm shift towards products that are environment friendly has created considerable demand for hybrid and electric cars. Since, automation is the core of the technology used for designing hybrid and electric cars, the use of microcontrollers are projected accelerate in the automotive industry in the coming years. The industrial segment emerged as the second-largest segment in the global MCU market in 2012. However, it is likely to lose its market share to due to the significantly increasing application of MCUs in consumer electronic goods and automotive segments. The expansion of the automotive industry in countries such as China will create opportunities for the market’s growth in the near future.