BANGALORE, India, April 15, 2024 /PRNewswire/ — Automotive Microcontrollers (MCU) Market is Segmented by Type (8-Bit Microcontrollers, 16-Bit Microcontrollers, 32-Bit Microcontrollers), by Application (Body Electronics, Chassis and Powertrain, Infotainment and Telematics).
Automotive Microcontrollers (MCU) Market Revenue was USD 7194 Million in 2022 and is forecast to a readjusted size of USD 11620 Million by 2029 with a CAGR of 7.0% during the forecast period (2023-2029).
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Major Factors Driving the Growth of Automotive Microcontrollers (MCU) Market:
The expanding breadth and complexity of automotive electronics, fueled by trends like vehicle electrification, connected car technologies, advanced driver assistance systems (ADAS), and the merging of infotainment and telematics systems, is driving the growth of the automotive microcontrollers (MCU) market. The market is growing as a result of the increasing demand for high-performance microcontroller solutions that can handle a wide range of functions from automakers looking to improve vehicle performance, safety, and user experience.
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TRENDS INFLUENCING THE GROWTH OF AUTOMOTIVE MICROCONTROLLERS MARKET
The market for automotive microcontrollers (MCUs) is expanding significantly due to the increased use of advanced driver assistance systems (ADAS) in automobiles. Microcontrollers play a major role in processing sensor data and carrying out control operations for advanced driver assistance systems (ADAS), including adaptive cruise control, lane departure warning, and automated emergency braking. Great-performance microcontrollers with sophisticated processing capabilities are in great demand as automakers work to improve automation and safety features. Another key factor driving the Automotive MCU market is the trend towards electric and hybrid cars. Powertrain components, battery systems, and energy efficiency algorithms are managed by complex electronic control units (ECUs) driven by microcontrollers in electric and hybrid cars.
The need for automotive microcontrollers is being driven by the spread of connected automobile technology. Numerous connection features found in modern cars, such as telematics, infotainment systems, and vehicle-to-everything (V2X) communication, depend on reliable microcontroller solutions to provide smooth data processing and transfer. Microcontrollers with increased processing power and communication capabilities are becoming more and more popular as a result of customer demand for in-car connectivity, navigation, and entertainment systems.
One of the main factors fueling the growth of the automotive MCU market is the development of autonomous driving systems. Microcontrollers are the brains behind real-time processing of sophisticated algorithms, sensor fusion, and decision-making in autonomous vehicle technology.
The use of Automotive Microcontrollers with improved sensor interfaces, real-time processing capabilities, and safety-critical functions is being driven by consumer demand for increased car safety features. In order to increase road safety and minimize accidents, microcontrollers are essential for allowing features like collision detection, pedestrian identification, and driver monitoring systems. Automotive manufacturers are incorporating advanced microcontroller-based safety systems into their vehicles to comply with worldwide safety rules and improve their brand’s image.
The automobile industry’s focus on sustainability and energy efficiency is having an impact on the development of microcontrollers that are optimized for low power consumption, temperature control, and environmentally friendly production methods. Advanced power-saving microcontrollers allow automakers to minimize their environmental effect, increase battery longevity, and improve energy efficiency. The market is predicted to rise as demand for energy-efficient microcontroller solutions increases and sustainability becomes a top concern for both regulators and customers.
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AUTOMOTIVE MICROCONTROLLERS MARKET SHARE ANALYSIS
NXP Semiconductors, Renesas Electronics, and Microchip Technology are three of the industry’s leading manufacturers; in 2019, their respective revenue shares were 23.04%, 22.13%, and 14.96%.
The automotive microcontroller (MCU) market in North America is supported by the region’s robust automotive sector, technological advancements, and growing uptake of advanced driver assistance systems (ADAS) and electric cars. North America is a center for technical developments in microcontroller-based automotive applications since it is home to a sizable number of important semiconductor manufacturers and automakers. Furthermore, the incorporation of modern MCU solutions is driven by strict safety and pollution standards, especially in the electric vehicle and ADAS industries.
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Key Companies:
- Renesas Electronics
- Microchip Technology
- NXP Semiconductors
- Infineon Technologies
- STMicroelectronics
- Texas Instruments
- Cypress Semiconductors
- Analog Devices
- Silicon Laboratories
- Toshiba
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