Automotive Microcontrollers Market Growth Outlook Through 2024-2033

Overview and Scope
Automotive microcontrollers refer to self-contained systems consisting of processors, memory, and peripherals, and are used as embedded systems. The system uses an integrated chip that is used to control the functions in automobiles. Microcontrollers are used in a system that is small and consists of the least number of components. The systems used in automobiles are remote control systems, operating systems, and automobile audio systems.

Sizing and Forecast
The automotive microcontrollers market size has grown rapidly in recent years. It will grow from $14.56 billion in 2023 to $16.04 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to rise in disposable income, a rise in merger and acquisition activity, emerging markets growth and increasing population growth.

The automotive microcontrollers market size is expected to see strong growth in the next few years. It will grow to $23.02 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing demand for driverless vehicles, increasing demand for commercial vehicles, increasing automotive sector and supportive government regulations and rising demand for electric vehicles. Major trends in the forecast period include focus on technological advancement, focus on strategic partnerships, focus on product innovations, focus on use of microcontrollers in electric vehicles and focus on adoption of microchips that improve flexibility of vehicles in crucial situations.

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Segmentation & Regional Insights
The automotive microcontrollers market covered in this report is segmented –

1) By Type: 8 Bit, 16 Bit, 32 Bit
2) By Vehicle Type: Passenger ICE Vehicle, Commercial ICE Vehicle, Electric Vehicle
3) By Connectivity: Vehicle To Vehicle (V2V) Connectivity, Vehicle To Infrastructure (V2I) Connectivity, Vehicle To Cloud (V2C) Connectivity
4) By Technology: Adaptive Cruise Control, Park Assist System, Blind Spot Detection, Tire Pressure Monitoring System
5) By Application Type: Powertrain and Chassis, Body Electronics, Safety And Security Systems, Infotainment And Telematics

Asia-Pacific was the largest region in the automotive microcontrollers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive microcontrollers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Growing demand for driverless vehicles is contributing to the growth of the automotive microcontrollers market. An autonomous vehicle can operate itself and perform necessary functions without human intervention. An autonomous vehicle utilizes a fully automated driving system to allow the vehicle to respond to external conditions. Multicore microcontroller families support autonomous driving applications. For instance, according to Hindu Business Line data 2021, autonomous driving is increasingly gaining popularity as 3.5 million passenger cars sold worldwide had level 2 autonomy driving features in Q4 2020, growing 91% year-on-year. Growing demand for driverless vehicles will drive the automotive microcontrollers market.

Key Industry Players

Major companies operating in the automotive microcontrollers market report are STMicroelectronics N.V., Infineon Technologies AG, Renesas Electronics Corporation, Microchip Technology Inc., NXP Semiconductors N.V., Texas Instruments Incorporated, Toshiba Corporation, ROHM Semiconductor, Analog Devices Inc., ON Semiconductor, Cypress Semiconductor Corp, ARM Ltd., Fujitsu Limited, Panasonic Corporation, Saankhya Labs, ASM Technologies, Broadcom Inc., CDIL, MosChip Semiconductor Technologies, HiSilicon, Will Semiconductor, Zhixin Semiconductor, Wingtech, UNISOC, Sanechips, YTMC, GigaDevice, CR Micro, Silan, Dialog Semiconductor PLC, Elmos Semiconductor and Arm, Maxim Integrated, Nuvoton Technology Corporation, Mitscholl electronics co. llc

The automotive microcontrollers market report table of contents includes:

1. Executive Summary
2. Automotive Microcontroller Market Characteristics
3. Automotive Microcontroller Market Trends And Strategies
4. Automotive Microcontroller Market – Macro Economic Scenario
5. Global Automotive Microcontroller Market Size and Growth
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31. Automotive Microcontroller Market Other Major And Innovative Companies
32. Global Automotive Microcontroller Market Competitive Benchmarking
33. Global Automotive Microcontroller Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Microcontroller Market
35. Automotive Microcontroller Market Future Outlook and Potential Analysis
36.Appendix

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