Microcontroller Market was Led by the APAC Region

The microcontroller market will reach a value of USD 43.61 billion by 2030, at a compound annual growth rate of 9.8% by the end of this decade. The industry growth can be chiefly credited to the increasing requirement for microcontrollers in the automotive sector, the mounting acceptance of medical and healthcare devices, and the increasing use of IoT devices.

The industry is categorized into 8-bit, 16-bit, and 32-bit microcontrollers. The 32-bit microcontroller category held over 40% revenue share in the past, and it will grow at a rate of over 10% in the years to come.

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This growth has a lot to do with the surging use of 32-bit microcontrollers in the automotive industry and the incessant reduction in prices of these products. Additionally, strict government guidelines and quality standards with regards to emissions will boost the acceptance of these microcontrollers at a global level.

Furthermore, the 16-bit microcontroller category had the second-largest market share. This is because of the growing requirement from the automotive industry for the manufacturing of EV modules accompanied by the incessant reduction in the average selling prices.

A 16-bit microcontroller can handle data with 16 bits, letting it to accomplish a larger count of data and computations all at once. It also needs less power and functions at a faster clock speed than an 8-bit microcontroller. Furthermore, the 16-bit microcontroller advances EDTC and ABS.

The APAC microcontroller market had the largest share, of about 40%, in 2021, and it will power at a rate of over 10.2% in the years to come. This is credited to the fast development in vehicle sales and the increasing requirement for high-end consumer electronics.

Furthermore, the propagation of startups in emerging nations, including India and China which offer indispensable microcontroller solutions, accompanied by ground-breaking add-on services and products, for example entertainment and GPS navigation systems, is contributing to the growth of the market in the region.

The medical devices industry will see augmented demand for microcontrollers, as a result of the high necessity for accurateness in medical procedures, increased research and development investments for the expansion of cutting-edge medical equipment, and support of the government for medical automation.

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Also, the rising elderly population and snowballing cases of chronic ailments, for example diabetes and high BP, accompanied by increasing COVID-19 infection, are some additional factors increasing the requirement for electronic medical devices globally, which powers the growth of the industry.

Because of the increasing use from automotive and consumer electronics, the demand for microcontrollers is growing all over the world. And, this will continue in the years to come as well.

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