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Microcontroller Market To Predict Global Expansion, Due To Growing Awareness Regarding Smart Energy Management With The Emergence Of Smart Grids

Jyoti Waghmare


Microcontroller Industry Overview


The global microcontroller market size was valued at USD 18.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.


Globally, more than 29 billion units of microcontrollers were shipped in 2021. Microcontrollers are majorly used in devices that require a considerable degree of control utilized by the users. The increasing competition in the industry has led to the low price of the product, which will drive the demand for microcontrollers. The growing awareness regarding smart energy management with the emergence of smart grids is expected to increase the MCU demand. The COVID-19 pandemic has had a substantial impact on the semiconductor manufacturing industries across the globe.


The fall in production and exports of microcontrollers in the countries, such as China, Germany, the U.S., Japan, and South Korea, coupled with the labor shortage, has significantly declined the overall market revenue in 2020. However, as the lockdown restrictions are getting lifted in several countries such as the U.K. and Germany, the manufacturing facilities have started operating with reduced work capacity to limit the spread of COVID-19. With the growing demand for 5G network equipment, servers, and electric and autonomous vehicles (EV) applications globally, microcontrollers' adoption is expected to see a remarkable surge over the coming years. This, in turn, is estimated to boost the overall market growth over the forecast years.


Gather more insights about the market drivers, restrains and growth of the Global Microcontroller Market


The critical factor that is boosting the market growth is the rising demand from the medical sector across the globe. The growing percentage of coronavirus cases, the increasing geriatric population, and the rising occurrence of diseases such as diabetes and high blood pressure are other key factors fueling the market growth. As a result, the demand for electronic medical devices to measure oxygen levels, temperature, blood pressure, and sugar levels is increasing. Microcontrollers can decrease the cost of medical devices and help provide accurate reading and information about the condition of the patient. As such, the demand for microcontrollers from medical equipment manufacturers is considerably increasing.


Microcontrollers are used in numerous devices from various applications such as automotive, industrial, telecommunications, healthcare, and consumer electronics. The automotive sector is driven by an increase in the number of luxury cars that use advanced microcontrollers. The electric vehicle market is rapidly growing, which is anticipated to further boost the product demand. As a result, with the growing demand for vehicles, the automotive sector is expected to contribute considerably to the growth of the global market from 2022 to 2030. However, the global slowdown in the sales and production of vehicles can affect the growth as microcontrollers are majorly used in automotive applications.


Increasing awareness regarding smart energy management with technological advancements is expected to boost the growth further. The smart grid is one of the technologies that combine with electrical networks and digital communication to facilitate remote control facilities. A smart grid uses smart meters and a communication channel to communicate. Hence, microcontrollers are used for ensuring communication between physical locations. Thus, smart meter installations under smart grid initiatives are expected to drive the market considerably.


Recently, the market is witnessing an increased demand for Internet of Things (IoT) MCUs. The growing web of connected devices encompasses smartphones, televisions, tablets, home appliances, gaming consoles, smart meters, and security systems. By leveraging this ever-increasing web of devices, the demand for IoT microcontrollers is rapidly growing. Increasing competition has led to the reduced prices of the product, which is anticipated to further fuel the product demand. The declining average selling prices, coupled with high demand from major application areas, are expected to drive the market over the forecast period.


Browse through Grand View Research's Electronic Devices Industry Research Reports.

  • IoT Microcontroller Market - The global IoT microcontroller market size was valued at USD 4.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% from 2022 to 2030. The increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected products are some of the primary factors to drive the market growth.
  • Autonomous Vehicles Market - The global autonomous vehicles market demand was estimated at 51.6 thousand units in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 53.6% from 2022 to 2030.


Microcontroller Market Segmentation

Grand View Research has segmented the global microcontroller market on the basis of product, application, and region:

Microcontroller Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • 8-bit
  • 16-bit
  • 32-bit

Microcontroller Application Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • Automotive
  • Consumer Electronics & Telecom
  • Industrial
  • Medical Devices
  • Aerospace & Defense
  • Others

Microcontroller Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa


Market Share Insights

  • November 2020: Renesas Electronics Corporation in collaboration with ALTRAN, an engineering and R&D service provider (A Capgemini Subsidiary), developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology.


Key Companies profiled:

Some prominent players in the global microcontroller market include

  • Infineon Technologies AG
  • Microchip Technology Inc.
  • NXP Semiconductor
  • Renesas Electronics Corporation
  • STMicroelectronics
  • Texas Instruments Incorporated


Order a free sample PDF of the Microcontroller Market Intelligence Study, published by Grand View Research.




Jyoti Waghmare
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