The global microcontroller market is currently valued at more than USD 17 billion in 2016 and is expected to reach around USD 22 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global microcontroller market, under its embedded systems portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Cypress Semiconductor, Infineon Technologies, Microchip Technology, NXP Semiconductors, Renesas Electronics, STMicroelectronics, and Texas Instruments.
According to Sunil Kumar Singh, a lead analyst for embedded systems research at Technavio, “Techn-savvy consumers are increasingly adopting IoT applications owing its exceptional features exhibited in smart devices. IoT can improve energy efficiency levels by reducing the energy output and tracking data usage when the device stays idle. The IoT trend is connected with the microcontroller market as the sensor hubs used to collect and log data and the small nodes used for connectivity are based on MCU platforms.”
With the implementation of IoT, better transparency can be achieved in terms of the status of shop floor and production machines, location, and disposition of lots by tagging containers and products. Thus, IoT applications have high demand in the market due to their extraordinary features, leading to increased demand for MCUs.
Growing adoption of smart grid systems
Smart grids are digitally monitored and self-healing energy systems that deliver gas or electricity from generation sources, containing distributed renewable sources to points of consumption. They improve power delivery and aid two-way communication across the grid, allowing end-user energy management, reducing power disruptions, and transporting only the needed amount of power. Such developments are expected to propel the demand for microcontrollers as the use of MCUs in smart grids is on the rise owing to their ability to provide better reliability in the power generation.
Growing adoption of connected cars
Connected cars are required to support highest level of security, especially with their increasing adoption in the global market. Automotive MCUs, with their unique combination of connectivity, performance, security, and scalability, enable car manufacturers and their subsystem suppliers to decide new standards in ensuring a greener, safer, and more enjoyable driving experience.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
Other related reports:
- Global Coding and Marking Market 2017-2021
- Global Silicon Carbide Market for Semiconductor Applications 2017-2021
- Global Single Board Computer (SBC) Market 2017-2021
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