European Microcontroller Industry is Anticipate to Expand at a CAGR of 5% by 2031 | Fact.MR Analysis

PRESS RELEASE
Published March 24, 2023

As of 2021, the global microcontroller market is estimated to be worth US$ 20 Bn. From 2021 to 2031, it is predicted to rise at a CAGR of 14%. Furthermore, the report anticipates sales to be valued at US$ 74.14 Bn by the end of the aforementioned forecast period. Automotive applications expect to remain high, growing at a staggering rate of 10% until 2031.

Microcontrollers are used in a variety of end-use industries, including automotive, medical devices, industrial equipment, military & defense, and consumer electronics. The variety of its applications is critical to the growth of the market, reflecting a CAGR of 14% between 2021 and 2031.

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How is the European market for luxury cars stimulating the use of microcontrollers?

According to Fact.MR, the European microcontroller market is anticipated to expand at a CAGR of 5% between 2021 and 2031. The European market is driven by the presence of significant vehicle and equipment manufacturers. There is a demand for automotive microcontrollers since luxury automakers like BMW, Mercedes-Benz, and Porsche have manufacturing facilities all around Europe.

European consumers place a high value on the powertrain when choosing luxury car brands, followed by interior & functional design, driving dynamics, external design, and overall ownership experience. In order to meet emissions reduction goals, modern microcontroller units are also being mounted. For example, the European Commission has set a goal to reduce greenhouse gas emissions until 2030 by at least 55%.

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Competitive Landscape

Prominent manufacturers are focused on introducing new product lines, with added new and diverse features. Furthermore, strategies such as collaborations and acquisitions are also sought after. Notable developments in the industry are as follows:

  • In October 2020, Infineon Technologies launched the TraveoTM II Body microcontroller family for next-generation vehicle electronic systems. The product line aims to address a broad variety of automotive applications, including body control modules, door, window, sunroof and seat control units
  • In January of 2021, Microchip Technology introduced AVR® microcontrollers (MCUs). They are a good choice for a range of embedded system designs because they provide unrivaled performance, power efficiency, and adaptability. Because of their highly adjustable peripherals and the industry’s most code-efficient architecture, they can bring numerous functions to a single chip with minimal programming.

Key Companies Profiled:

  • Texas Instruments Incorporated
  • Fujitsu Semiconductor Limited
  • Cypress Semiconductor Corporation
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • NXP Semiconductors
  • Renesas Electronics Corporation
  • STMicroelectronics
  • TE Connectivity Ltd.

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Key Questions Covered in the Microcontroller Market Report

  • What is the projected value of the Microcontroller factors Industry in 2022?
  • At what rate will the global Microcontroller factors market size grow until 2031?
  • Which are the factors hampering the growth of Microcontroller factors?
  • Which region is expected to lead in the global Microcontroller factors market By 2031?
  • Which are the factors driving the Microcontroller factors Industry during the forecast period?
  • What is the expected market value of the Microcontroller factors market during the forecast period?

Regional Analysis For Microcontroller Market:

  • APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
  • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
  • North America (USA, Canada and Mexico)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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