The new report by Expert Market Research titled, ‘Global Automotive Microcontrollers Market Report and Forecast 2023-2028’, gives an in-depth analysis of the automotive microcontrollers market, assessing the market based on its segments like application, bit size, material type, connectivity, technology, vehicle type, and regional markets among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Automotive Microcontrollers Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): 10.9 billion USD
• Forecast CAGR (2023-2028): 7.50%
• Forecast Market Size (2027): 16.8 billion USD
Due to the rising complexity of automotive electronics and the requirement for fewer components, 32-bit microcontrollers are in high demand. This has been fueling the market’s overall expansion. They also provide better processing performance, power economy, and precision for a variety of tiny and large-scale applications.
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Furthermore, the automotive microcontrollers sector is growing due to the vast selection of 32-bit microcontrollers offered by key industry companies. For example, Infineon supplies the AURIX Family of 32-bit high-power microcontrollers for the car sector, which includes sophisticated safety and security features. Additionally, in the forecast period, research initiatives to employ 32-bit microcontrollers in various vehicle applications are likely to propel the market for automotive microcontrollers.
Automotive Microcontrollers Industry Definition and Major Segments
The automotive microcontroller is a single-chip microprocessor that controls all elements of vehicle operation and is crucial in battery management. It assists in the computation and monitoring of elements such as the amount of injected fuel by obtaining data, doing calculations, and making appropriate modifications in a fraction of the time. These microcontrollers have a single chip that has ROM, RAM memory organisation, CPU, parallel and serial interfaces, programmable input/output devices, and peripherals. They are employed in smaller systems with fewer components to execute operations that need monitoring and control functions. Automotive microcontrollers are widely used in automatic vehicle goods and equipment such as remote-control systems, automobile audio systems, air bag systems, engine control and operating systems, as well as the internet of things (IoT) and a variety of discrete chip applications.
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The automotive microcontrollers industry, by application, is divided into:
• Powertrain and Chassis
• Safety and Security
• Body Electronics
• Telematics and Infotainment
Based on bit size, the market is segmented into:
• 8-Bit Microcontrollers
• 16-Bit Microcontrollers
• 32-Bit Microcontrollers
• 32-Bit Microcontrollers Fusion Box
On the basis of material type, the market is classified into:
• Tinned Steel Automotive Microcontrollers
• Nickel-Cobalt Ferrous Alloy Automotive Microcontrollers
• Copper Alloy Automotive Microcontrollers
Based on connectivity, the market is segmented into:
• V2V Connectivity
• V2I Connectivity
• V2C Connectivity
On the basis of technology, the market is divided into:
• Park Assist System
• Blind Spot Detection System
• ACC
• TPMS
Based on vehicle type, the market is classified into:
• Passenger Cars
• Commercial Vehicles
• Electric Vehicles
I. Battery-Powered Electric Vehicle (BEV)
II. Hybrid Electric Vehicle (HEV)
III. Plug-In Hybrid Electric Vehicle (PHEV)
IV. Fuel Cell Electric Vehicles (FCEV)
The major regional markets of the automotive microcontrollers market are:
• North America
• Asia Pacific
• Latin America
• Europe
• Middle East and Africa regions
Automotive Microcontrollers Market Trends
The increasing use of electronic components in vehicles due to cost-effectiveness and the necessity to eliminate bulky cables is propelling the automotive microcontroller industry forward. Furthermore, rising demand for fuel-efficient and elegant automobiles is boosting the market for automotive microcontrollers. Microcontrollers are also becoming more popular as a consequence of their superior performance in controlling all of a vehicle’s components to provide an improved driving experience, which is fueling market growth.
Furthermore, government attempts to install safety features such as anti-lock brake systems in automobiles to minimise road accidents are propelling the automotive microcontrollers sector forward. Furthermore, the development of self-driving and semi-autonomous cars, as well as ADAS technologies, is driving up demand for microcontrollers, boosting the market. In the projected future, the market for automotive microcontrollers is expected to be stimulated by industry players’ creative technical breakthroughs for the product.
Key Market Players
The major players in the market are Analog Devices, Inc., Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., Texas Instruments Incorporated, Toshiba Electronic Devices & Storage Corporation, STMicroelectronics International N.V., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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