Automotive Microcontroller Market to Hit USD 31.7 Billion by 2034 with 8.27% CAGR | Future Market Insights.
The automotive microcontroller market is experiencing robust growth, driven by the increasing complexity of vehicle electronics and the demand for advanced features such as autonomous driving, infotainment systems, and advanced safety technologies. These microcontrollers play a crucial role in managing various vehicle functions, including engine control, braking systems, and infotainment units.
NEWARK, Del, Aug. 05, 2024 (GLOBE NEWSWIRE) — The automotive microcontroller market is estimated to be valued at USD 14.32 billion in 2024. The market is projected to register an 8.27% CAGR from 2024 to 2034. The industry value is forecasted to reach USD 31.7 billion by 2034.
The automotive sectors in many countries are currently following mandatory safety standards, which has necessitated the deployment of automotive control microcontrollers. The overall market is anticipated to expand further as vehicle electric control units mostly rely on intricate microcontrollers for accurate fuel injection, ignition timing, and overall engine performance improvement.
The automotive controllers market is expected to have a significant growth during the forecast period 2024-2034. Technological advancements, rising demand for electric vehicles, and rising demand from medical sector as well is projected to contribute towards the revenue share. Due to pandemic, supply and demand in Europe, North America, Asia fell drastically down, but now as the work is being started again in some regions, the manufacturers are certain to witness surge in demand
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Microcontrollers are Now Being Employed in Sophisticated Safety Features
An automotive microcontroller enables automatic control sensing, enhances safety features in vehicles including high temperature control and air bag control, and increases speed of execution in vehicles. Automobile manufacturers have used microcontrollers over a long time, for the purpose of engine control, power steering, seating, and antilock brakes.
However, they are now being employed in sophisticated safety features such as advanced driver assistance systems (ADAS), lane change warning, surround view cameras, automated braking & lighting, and blind spot detection. Microcontrollers are also being used in infotainment systems, and offer connectivity to vehicle network.
Key Takeaways from the Market Study Report
- The market is expected to witness an absolute growth of USD 17.5 billion over the next ten years.
- The United States is currently the top producer of automotive microcontrollers, which is anticipated to register a CAGR of 6.4% from 2024 to 2034.
- In Europe, Germany is the leading supplier of automotive microcontrollers and is forecasted to advance at a rate of 5.1% during the forecasted years.
- In terms of industry growth, China is expected to lead the automotive microcontroller market at a 12.1% CAGR through 2034.
- India is a remarkably growing market for the adoption of automotive microcontrollers and is expected to thrive at a CAGR of 11.1% over the projected years.
- The automotive microcontroller industry in Australia is likely to expand at a rate of 8.7% per year until 2034.
“The adoption of microchips improves the flexibility of vehicles in crucial situations, and enhances the connectivity of a vehicle. So, manufacturers are investing more in research and development of integrating semiconductors with microcontrollers, providing a competitive advantage,” – says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
The overall market is turning competitive gradually with the emergence of new market players in emerging economies like China and India. However, top automotive microcontroller manufacturers still hold a significant share of the global owing to their long-term collaborations with automotive manufacturers.
Leading Players
- Texas Instruments Incorporated
- NXP Semiconductors NV
- STMicroelectronics NV
- Microchip Technology Inc.
- Renesas Electronics Corporation
- Silicon Labs Private Limited
- Fujitsu Limited
- Maxim Integrated Products, Inc.
- Infineon Technologies
- Toshiba Corporation
Recent Developments by the Automotive Microcontroller Industry Players
- In August 2023, ARTERY Technology entered the automotive MCU market with the debut of its first automotive-grade microcontroller, the AT32A403A. This new series of automotive control chips completed qualification tests such as the accelerated environmental stress test and the accelerated lifespan simulation test in accordance with the AEC specification. Moreover, the package assembly integrity test and the electrical verification test were also certified in accordance with the automotive standard AEC-Q100 Grade 2.
- In June 2023, Cortus’s Safe, a fabless semiconductor manufacturing company based in France, introduced low-power RISC-V automotive microcontrollers (MCUs) and announced today by forward-thinking. Cortus ULYSS series satisfies all technological requirements for the various classes of automotive electronic systems by utilizing process technologies. The process technology ranges from 130nm to 12nm, single to eight-core designs, all with floating points and CAN, and clock rates from 240MHz to 1.5GHz. The safety certifications and standards it adheres to include ISO 26262 ASIL-B, ASIL-D, IEC 61508/62061, AEC-Q100/1, AUTOSAR, ISO/SAE 21434, and others.
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Key Segmentations
By Material Type:
- Tinned Steel
- Nickel-Cobalt Ferrous Alloy
- Copper Alloy
By Vehicle Type:
- Compact Passenger Cars
- Mid-sized Passenger Cars
- Premium Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric vehicle
By Application:
- Advanced Driver Assistance System
- Parking Assist System
- Brake control system
- Electric Control Suspension
- Airbags
- Functional Safety Technology
- Transmission Control
- Start-Stop System
- Electronic Power Steering System
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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