Microcontrollers (MCU) Market - Global Industry Analysis, Size, Share, Growth and Forecast 2012 - 2018
Albany, NY -- (SBWIRE) -- 01/23/2017 -- Awareness regarding smart energy management, coupled with the latest technological advancements, is the key driver of the global microcontrollers (MCU) market. A favorable regulatory scenario supporting deployment of smart grid systems is likely to create viable growth opportunities for the market. The technology is chiefly used in smart cards for ensuring better safety to electronic banking transactions and government IDs such as mass-transit fares, security applications, passports, and medical records.
Microcontrollers are manufactured as application-specific integrated circuits to be embedded inside devices they control. Due to this function, MCUs are also referred as embedded controllers. They comprise memory, peripherals, and processors.
A majority of the demand witnessed by the market arises from the automotive industry. Growth witnessed in the sales of automobiles will thus prove a strong driving force for the global microcontrollers market. A considerable number of MCUs are required in an average automotive, enabling it to function effectively. With the advent of the novel features such as GPS and keyless entry, the demand for MCUs in the automotive industry is higher than ever.
While the prevalence of fierce competition could restrict the market's growth to an extent, the increasing penetration of smart grid systems will enable companies explore regions with lucrative opportunities. Based on aforementioned factors, TMR has estimated the global MCU market to exhibit a moderate CAGR of 4.0% between 2012 and 2018. At this pace the market is projected to reach US$19.5 bn by the end of 2018, from its valuation of US$15 bn in 2011.
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Advent of Eco-friendly Cars to Bolster Use of MCU in Automotive Industry
Based on application, the global microcontrollers market is segmented into industrial, computer, communications, automotive, and consumer goods. Of these, the automotive industry accounted for the dominant revenue share of 31.4% in the market in 2012. Over the course of the forecast period, the automotive and industrial segments are projected to gain increased market share. A paradigm shift towards products that are environment friendly has created considerable demand for hybrid and electric cars. Since, automation is the core of the technology used for designing hybrid and electric cars, the use of microcontrollers are projected accelerate in the automotive industry in the coming years.
The industrial segment emerged as the second-largest segment in the global MCU market in 2012. However, it is likely to lose its market share to due to the significantly increasing application of MCUs in consumer electronic goods and automotive segments. The expansion of the automotive industry in countries such as China will create opportunities for the market's growth in the near future.
Increasing Industrialization to Seal Asia Pacific's Dominance in the Market
Regionally, Asia Pacific, EMEA, North America, and Rest of the World constitute the key segments in the global microcontrollers market. Among these regions, Asia Pacific emerged dominant in the global market. As per TMR, the cumulative share held by Asia Pacific and EMEA totaled 70.5% of the global market in 2012. The dominance of Asia Pacific will remain sealed through the forecast period due to the industrialization witnessed by the emerging economies in the region, which in turn creates sales opportunities for MCU. The rising use of microcontrollers across automotive and consumer goods industries and in the manufacture of medical equipment will augment the demand for MCU in Asia Pacific.