A microcontroller is a solitary chip microcomputer fabricated on a single integrated circuit from VLSI fabrication. It comprises of a memory, processor core and programmable input or output peripherals. Commonly abbreviated as MCU, this integrated circuit is embedded in numerous products that require automation for its functionality.
The rising urbanization and increasing purchasing power of consumers are rendering the consumers to be more tech savvy. In addition to this, increasing awareness about the ongoing technological advancements across the globe is leading to smartphone proliferation worldwide. This will drive the demand for microcontrollers over the forecast period.
Rising energy costs and growing sustainability concerns is driving the large scale migration of power systems from conventional to smart grid systems. Growing need for energy efficient vehicles are creating opportunities for microcontrollers. This is evident from the significant rise in the adoption of hybrid and electric vehicles, especially in the countries with stringent regulatory framework for environmental concerns. Due to this scenario, the global microcontroller market is expected to gain traction over the forecast period.
The developing economies in Asia-Pacific and Middle East & Africa are offering growth opportunity to the player in the market. This is attributed to the increasing demand for automobiles and consumer electronics in these geographies. Outsourcing within automotive industry has also increased significantly in these geographies, consequently leading to reduced average selling prices of microcontroller.
The key market players operating in the global microcontroller market include Texas Instruments Incorporated, Intel Corporation, Silicon Laboratories, Renesas Electronics Corporation, STMicroelectronics N.V., Maxim Integrated, Analog Devices, Inc., Fairchild Semiconductor, Samsung Semiconductor Co., Ltd. and Microchip Technology Inc.
