Asia-Pacific is estimated to lead the automotive microcontrollers market during the forecast period, followed by North America and Europe. The European market is growing at a steady pace as most of the vehicles are equipped with high-end electronics and safety features.
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The report "Automotive Microcontrollers Market by Application (Body Electronics, Chassis & Powertrain, Infotainment & Telematics, Safety & Security), Technology (ACC, Blind Spot Detection, Park Assist, TPMS), Vehicle, EV, Bit Size, Connectivity, and Region - Global Forecast to 2022", The global automotive microcontrollers market size is estimated to be USD 989.2 Million in 2017 and is projected to grow to USD 1,886.4 Million by 2022, at a CAGR of 13.78%.
Browse 97 Market Data Tables and 77 Figures spread through 201 Pages and in-depth TOC on "Automotive Microcontrollers Market by Application (Body Electronics, Chassis & Powertrain, Infotainment & Telematics, Safety & Security), Technology (ACC, Blind Spot Detection, Park Assist, TPMS), Vehicle, EV, Bit Size, Connectivity, and Region - Global Forecast to 2022"
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The major factors driving the growth of the automotive microcontrollers market are the increasing installations of advanced driver assistance systems, stringent automotive safety and security norms introduced by the government, and rising preference of vehicle electrification among OEMs and Tier I suppliers.
Safety and Security application holds the largest market share in 2017
With the modernization of vehicles, the number of microcontrollers employed in a vehicle has increased.
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The microcontrollers driven operations include advanced driver assistance system, airbags, anti-lock brake system, and others, which constitute the major components of safety and security application.
The automotive microcontrollers market for safety and security system is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing installation of safety features and ongoing legal mandates pertaining to this application.
Passenger Cars– Largest share of automotive microcontrollers market in 2017
Growing complexity in vehicle electronics, coupled with increasingly stringent emission norms have contributed to the growth of the global automotive microcontrollers market for passenger cars during the forecast period. The passenger car segment is estimated to hold the largest share of the automotive microcontrollers market due to the increasing installation of safety features.
safety mandates and regulations across developed nations have incentivized the OEMs to manufacture passenger cars that feature advanced technologies. These factors have boosted the microcontrollers market for passenger cars across the globe.
Asia-Pacific: Rapid vehicle electrification in Chinese market is propelling the growth of Asia-Pacific market
With the convergence of ICT, automotive, and transportation sectors, the Asia-Pacific region has witnessed a growing demand for technologically advanced cars. This has resulted in the emergence of the advanced vehicle ecosystem.
Further, the upcoming safety regulations would increase the installation of automotive safety technologies in passenger cars. The emergence of driving assistance technologies have incentivized the OEMs to opt for efficient microcontrollers to meet the ongoing market requirement.
Thus, the increasing use of technology is expected to push the demand for microcontrollers in cars in the Asia-Pacific market.
The report also profiles the most promising players in the microcontrollers market. The market presents an interesting picture of a large number of big and small players that have become a force to reckon.
The key players in this market are Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), STMicroelectronics N.V.
(Switzerland), Maxim Integrated Products, Inc. (U.S.), NXP Semiconductors N.V.
(Netherlands), Renesas Electronics Corp. (Japan), and Toshiba Corp. (Japan).
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