Global microcontroller market is estimated to be valued at USD 26.9 billion by 2020, as per a new research report by Hexa Research. Growing demand in key application areas such as automotive, consumer electronics and healthcare is expected to boost industry growth over the forecast period. Price reduction and quality enhancement may be achieved with the increasing deployment in healthcare industry. Moreover, increasing consumer awareness regarding energy efficient hybrid electric vehicles is likely to favor growth prospects.

Proliferation of smart grid systems is expected to drive microcontroller market growth over the forecast period. These systems consist of digital communication and remote control facility, which in turn increases the demand of microcontrollers globally. However, economic slowdown in the industry is likely to pose challenges to industry participants.

MCUs are included in several consumer electronics devices, which are projected to augment the MCU market growth. Increasing demand for devices which are compatible with Ethernet and Internet of Things (IoT) is also expected to provide positive avenues to market growth over the foreseeable period. Growing demand for microcontroller chips blended with wireless interface such as NFC, ZigBee and Bluetooth is also anticipated to drive the market growth. Furthermore, unfavorable macroeconomic conditions and moderately fragmented nature of the industry are estimated to slow down the market growth over the next five years. The global market was anticipated to be 17,393.64 million units in 2013, and is estimated to reach 39,108.54 million units by 2020, increasing at a CAGR of 12.34% from 2014 to 2020. On the basis of revenue, the market was esteemed at USD 16,697.19 million in 2013 and is estimated to reach USD 26,984.81 million by 2020, rising at a CAGR of 7.3% from 2014 to 2020.

Browse Details of Report @ https://www.hexaresearch.com/research-report/microcontroller-industry

Key Players:
Key companies include Renesas Electronics, Samsung, Fujitsu, STMicroelectronics, Texas Instruments, Freescale Semiconductor and Infineon Technologies among others

Key report insights suggest:

- Global microcontroller unit shipments were estimated at 17,393.6 million units in 2013 and are expected to register 39,108.5 million units by 2020, growing at an estimated CAGR of 12.3% from 2014 to 2020.

- Asia Pacific microcontroller market dominated the regional demand with an estimated market share of 38.2% in 2013. It is also expected to be the fastest growing region, growing at a CAGR of 7.8% from 2014 to 2020. Increasing adoption of microcontrollers across various application segments including HVAC, energy, and mobile phones is expected to drive the regional demand.

- Automotive industry dominated the demand with an estimated market share of 33.8% in 2013. This industry is also expected to be the fastest growing application segment, growing at a CAGR of 13% from 2014 to 2020. Increasing acceptance of electric and hybrid vehicles utilizing microcontrollers is expected to boost the market growth.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/automotive-and-transportation-industry