Automotive Microcontrollers (MCU) Market worth USD 27.21 Billion by 2029, in depth analysis of the current trends and future estimations
The growing number of cyber threats hampers the Automotive Microcontrollers (MCU) market growth
PUNE, India, May 25, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Microcontrollers (MCU) Market.
The global Automotive Microcontrollers (MCU) market is expected to grow at 7.9 % CAGR from 2020 to 2029. It is expected to reach above USD 27.71 billion by 2029 from USD 10.31 billion in 2020.
Automotive Microcontrollers (MCU) are specialized microcontrollers designed to be used in automotive applications. They are responsible for controlling various functions in a vehicle, such as an engine management, transmission control, powertrain control, and safety systems like airbags and anti-lock braking systems (ABS). These microcontrollers are designed to be highly reliable and robust, with features like high-temperature tolerance, high electromagnetic interference (EMI) and electromagnetic compatibility (EMC) resistance, and high vibration resistance. They are also designed to be low-power and highly efficient, making them suitable for use in battery-powered systems like electric and hybrid vehicles. These are used for general applications and can be programmed to perform a variety of functions.
The demand side growth is ascribed to the growing modernization of the vehicle accelerates the installation rate of microcontrollers and the growing demand for safety features. Another important factor contributing to the growth is the increasing demand for advanced safety, convenience, and comfort systems that drives the Automotive Microcontrollers (MCU) market growth.
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Increasing expansions in the automotive industry drive the Automotive Microcontrollers (MCU) market growth.
The automotive industry is rapidly evolving, with the development of electric and autonomous vehicles and the integration of advanced features such as advanced driver-assistance systems (ADAS) and infotainment systems. All of these developments require advanced microcontrollers that can handle the increasing complexity and performance demands of modern vehicles. Moreover, the increasing global demand for automobiles is also driving the growth of the Automotive Microcontrollers (MCU) market. Additionally, the development of advanced manufacturing processes such as 3D printing and nanotechnology is also contributing to the growth of the Automotive Microcontrollers (MCU) market. These processes enable manufacturers to produce microcontrollers with higher precision and efficiency, which can help reduce costs and improve performance.
The use of microcontrollers in modern vehicles has increased the risk of cyberattacks, as these devices are vulnerable to hacking and other types of security breaches. The potential consequences of a cyberattack on a vehicle can be severe, including loss of control, theft of personal information, or even physical harm. As a result, manufacturers of Automotive Microcontrollers (MCU) are under pressure to ensure that their products are secure and protected against cyber threats. Moreover, the automotive industry is also facing regulatory pressure to improve cybersecurity measures. For example, in the United States, the National Highway Traffic Safety Administration (NHTSA) has issued guidelines for the cybersecurity of motor vehicles. Compliance with these guidelines can be a costly and time-consuming process, which can also slow down the growth of the Automotive Microcontrollers (MCU) market.
Competitive landscape and companies covered in the global Automotive Microcontrollers (MCU) report:
Some of the major players in this industry have taken a leadership position while trying to establish their market through innovative marketing strategies. These leading firms focus on expanding by developing new products or partnering with other companies for strategic initiatives that will help them conquer markets they occupied previously and make gains where it matters most- at home (geographic). There are a lot of local players in each of the regions who are trying to pnetrate the market which again can be disruptive in low-income economies.
The Automotive Microcontrollers (MCU) market key players include Analog Devices, Inc, Cypress Semiconductor Corporation, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors, On Semiconductor, Renesas Electronics Corporation, Rohm Semiconductor, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation, Maxim Integrated.
27th September 2022 – Renesas Electronics Corporation a leading supplier of advanced semiconductor solutions, launched a new integrated development environment that agrees engineers to quickly create software for automotive ECUs (Electronic Control Units) containing multiple hardware devices.
24th June 2021 – To provide cutting-edge semiconductor technologies and products for Arrival's vehicles, including Automotive Microcontrollers (MCU) and power and battery-management devices, STMicroelectronics, a leading global semiconductor company serving customers across the spectrum of electronics applications, announced its collaboration with Arrival, a global technology company developing electric vehicles (EVs) using its proprietary technologies.
Browse the full "Automotive Microcontrollers (MCU) Market by Application (Powertrain & Chassis, Safety & Security, Body Electronics, Telematics & Infotainment), Bit Size (8-Bit Microcontrollers, 16-Bit Microcontrollers, 32-Bit Microcontrollers, 32-Bit Microcontrollers Fusion Box), Connectivity (V2V Connectivity, V2I Connectivity, V2C Connectivity), Technology (Park Assist System, Blind Spot Detection System, ACC, TPMS), EV Type, Vehicle Type and Region Global Trends and Forecast From 2022 To 2029" Report and TOC at https://exactitudeconsultancy.com/reports/19659/automotive-microcontrollers-mcu-market/
The Automotive Microcontrollers (MCU) market is segmented based on by Application, Application, and by Bit Size, Global trends and forecast.
Automotive Microcontrollers (MCU) Market by Application, 2020-2029, (USD Billion), (Thousand Units)
Automotive Microcontrollers (MCU) Market by Bit Size, 2020-2029, (USD Billion), (Thousand Units)
Automotive Microcontrollers (MCU) Market By Connectivity, 2020-2029, (USD Billion), (Thousand Units)
Automotive Microcontrollers (MCU) Market By Technology, 2020-2029, (USD Billion), (Thousand Units)
Regional Growth Insights
In 2021, Asia Pacific accounted for the largest market in the Automotive Microcontrollers (MCU) market. Hybrid electric vehicle adoption is increasing in the Asia-Pacific area due to growing environmental concerns, expanding government subsidies, and features like improved performance, fuel efficiency, and affordability. The automobile industry has recently grown in the Asia-Pacific area. One of the most lucrative investment markets, the region has made a significant impact on worldwide vehicle sales. The major automakers have focused on expanding in Asia by establishing their corporate headquarters or manufacturing plants in countries like China, Japan, and India, which are the region's automotive centers.
Europe accounted for the second largest market in the automotive microcontroller market. Europe is home to several major automotive manufacturers, including Volkswagen, BMW, and Daimler, among others. These companies are driving innovation and investment in automotive technology, including microcontrollers.
What`s New for 2023?
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