Global Automotive Microcontrollers Industry Overview
Rising environmental pollution has prompted governments of various countries to increase fuel duty to discourage the use of motorized vehicles. This factor has prompted new and existing automotive OEMs in manufacturing vehicles that run on cleaner technologies, for instance, battery-powered electric vehicles. As a result, the sales of such vehicles are rising. To comply with stringent fuel economy standards, automotive OEMs are investing in fuel-efficient technologies, increasing the electronic content in the powertrain and chassis application of modern vehicles. Also, electrification will be more beneficial for automotive OEMs compared with spending considerably on compliance with stringent fuel economy standards. Therefore, the increase in electronic content in vehicles owing to stringent regulations for controlling emissions is a significant automotive microcontroller market driver. The market is expected to record a CAGR of almost 1% over the forecast period.
The demand for automotive controllers with higher capacities and performance is increasing from the automotive industry. Vendors of the automotive microcontrollers have been focusing on catering to the needs to increase customer base. For instance, Renesas Electronics developed a flash memory technology for automotive microcontrollers. The technology allows microcontrollers to achieve higher capacity, faster readout speeds, and over-the-air (OTA) support. These beneficial factors are expected to boost the adoption of automotive microcontrollers with new flash technology, which is one of the key automotive microcontrollers market trends. OTA is crucial in maintaining the safety and security of vehicles. Therefore, the trend will have a positive influence on market growth over the forecast period.
Top Automotive Microcontrollers Companies Covered in this Market Research Report
The global automotive microcontrollers market is concentrated. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This automotive microcontrollers market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading automotive microcontrollers manufacturers, including:
Infineon Technologies AG
NXP Semiconductors NV
Renesas Electronics Corp.
STMicroelectronics International NV
Texas Instruments Inc.
Automotive Microcontrollers Market Segmentation Based on Application
The 32-bit microcontroller segment held the largest market share in 2018. It will account for the highest global automotive microcontrollers market share over the forecast period. 32-bit microcontrollers have high processing power and accuracy. As a result, they have a significant range of applications in the automotive industry. Also, the industry is moving rapidly to the standardization of 32-bit microcontrollers. These factors are expected to boost the demand for 32-bit microcontrollers from the automotive industry during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive microcontrollers market size.
Automotive Microcontrollers Market Segmentation Based on Geographic Region
With a complete study of the growth opportunities for the companies, it has been identified that APAC will account for the highest share of the automotive microcontrollers market throughout the forecast period. Factors such as the rising demand for safety and convenience features in modern vehicles in emerging markets in APAC, rapid growth of the passenger car segment, and growing consumer preference for advanced features in vehicles are contributing to the automotive microcontrollers market growth in this region.
Key Highlights of the Global Automotive Microcontrollers Market for the Forecast Years 2019-2023
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the automotive microcontrollers market during the next five years
Precise estimation of the global automotive microcontrollers market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the automotive microcontrollers industry across APAC, Europe, MEA, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details of factors that will challenge the growth of automotive microcontrollers companies
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