The Global Multicore Microcontroller (MCU) Market Size is expected to grow approximately CAGR of 14.5% during the forecast period.
The global impact of COVID-19 has been unprecedented and astounding, with the pandemic having a positive impact on demand in all fields. The rise in CAGR is due to increased demand and growth in this industry, which will return to pre-pandemic levels after the pandemic is over.
Microcontroller demand is predicted to climb as the number of automotive applications (electric cars, driverless vehicles, etc.), medical devices, consumer electronics, and other industrial applications increases. Despite the COVID-19 pandemic, the primary driver of MCU demand is the need for automated industrial machines, electronic and networking devices, and a variety of other applications.
Given the unexpected emergence of the COVID-19 pandemic, original equipment manufacturers (OEMs) are focusing their efforts on developing sophisticated healthcare solutions for treating and monitoring patients suffering from common illnesses, thereby improving the quality of healthcare devices at a reasonable cost.
MCUs are crucial in portable medical equipment because they operate at ultra-low power and are integrated with high-performance analog peripherals, enabling medical devices to have longer battery life. The MCU performs digital filtering and processing of the patient's condition, as well as showing the parametric results of physiological data such as heart rate, blood pressure, blood oxygen, lungs capacity, and many others.
Due to microcontrollers are small, they are used in small devices. Microcontrollers do not have access to multi-tasking devices; they can only manage one operation and task at a time and are hence not multitasking. Another drawback is that microcontrollers cannot be reprogramed and do not support zero flags.
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|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Due to rising demand for automotive modules used in the construction of electric or hybrid autos, lightingsystems, and so on, the 16-bit MCUs sector has the second biggest market share. The production of microcontrollers with WIFI and microcontrollers with Bluetooth, which have the greatest applications in the automotive, consumer electronics, and medical sectors, is predicted to expand by key industry players.
This is due to increasing functional capabilities, which are beneficial for complex Internet of Things applications, Industry 4.0 equipment, minute implanted medical devices, and other applications.
Consumer electronics are electrical equipment that people use on a daily basis. Electronic gadgets include home equipment such as refrigerators, televisions, washing machines, air conditioners, and others, as well as smart wearable devices and portable devices such as laptops, computers, tablets, and others. Because of the variety of functions provided by the consumer electronics industry, the gadgets are employed for both business and non-commercial purposes.
The advancement of technology is propelling the consumer electronics sector forward. The growing popularity of small-sized wearable gadgets such as earphones, smartwatches, smart glasses, and others is boosting the consumer electronics sector. Furthermore, the growing work-from-home trend is increasing the adoption of computing devices, which is driving the growth of the consumer electronics market.
During the forecast period, the automotive sector is expected to have the highest growth rate and microcontroller market share, as the industry prefers to embrace advanced technology in order to make the best use of embedded systems used in the manufacturing of automotive parts and establish a global position of technological superiority, thereby driving market growth. On the other hand, the desire to work from home is growing in both developed and developing countries, driving up worldwide demand for consumer electronics.
Smart houses are intended to automate different household appliances and gadgets via the use of an in-built monitoring system, providing occupants with convenience, safety, efficiency, and security. Lighting, security, temperature, and audio/video systems may all be monitored and controlled by a single interface system. Smart homes prioritize protection, and modern security systems may inform homeowners of intruders and give room-by-room monitoring even when they are not there. Access control systems are critical to the security of residential areas. Home automation and control systems are increasingly being employed in smart homes to improve security due to their high efficiency and complexity.
The Global Multicore Microcontroller (MCU) Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The Asia Pacific market will have the greatest CAGR over the projected period. Automobile sales are expanding in developing markets, particularly in India, China, and Southeast Asian countries. Furthermore, China has recently announced significant plans to raise its profile in high-tech industries such as electric vehicles, semiconductors, aerospace, robotics, high-speed rail, and other technology-driven products and services, as a leader in intellectual property development. The continuous upgrades and advancements in the vehicle sector are driving the microcontroller market. Furthermore, as a result of rapid e-commerce growth, China's Smartphone adoption rate is among the top five in the world.
North America is predicted to have the second largest market share due to the development of semiconductors and their components, with the United States being the global leader in the semiconductor industry. According to the report, the United States spent the most on ongoing semiconductor R&D in 2019 (USD 39.8 billion). As a result, this market would develop significant momentum across the region.
Europe's market is expected to develop somewhat in the foreseeable future as the automotive and medical device sectors expand. Because European countries such as Germany, France, and Italy are well-known automobile production centers around the world, demand for sophisticated MCUs has increased in the area over the last decade. Furthermore, Europe's biomedical, bioengineering, and metallurgical sectors are improving their manufacturing processes in order to provide highly advanced medical devices to end-users around the world. Due to restricted development in end-user manufacturing facilities, the Middle East and Africa, as well as South America, are likely to experience slow microcontroller market growth.
In January 2021, Toshiba Electronic Devices & Storage Corporation introduced five new sets of TXZ+ family advanced class microcontrollers. The M4K, M4M, M4G, and M4N groups are powered by the Arm Cortex-M4 core, whereas the M3H group is powered by the Arm Cortex-M3 core. These MCUs are appropriate for a wide range of applications, such as networked IoT devices, motor control, cutting-edge sensing capabilities, and so on.