DUBLIN--(BUSINESS WIRE)--The "Ultra-Low-Power Microcontroller Market by Peripheral Device (Analog Device and Digital Device), Packaging Type (8-bit Packaging, 16-bit Packaging, and 32-bit Packaging), End-use Application, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The ultra-low-power microcontroller market is expected to grow from USD 4.4 billion in 2019 to USD 12.9 billion by 2024, at a CAGR of 24.1%.
Major factors driving the ultra-low-power microcontroller market include the growing adoption of low-power consumption devices, rising demand for low-power microcontrollers from the consumer electronics industry, increasing use of building and home automation systems, and surging demand for IoT ecosystem.
The 32-bit ultra-low-power microcontroller market is expected to hold the largest share during the forecast period
The 32-bit ultra-low-power microcontroller segment is expected to lead the market between 2019 and 2024. The growth of these microcontrollers can be attributed to its feature of offering a balance between power consumption and high performance. This helps to meet the needs of power-constrained or low-power applications seeking battery-savvy functionality for the Internet of Things (IoT) and connected devices.
The analog devices is expected to hold the largest share of the ultra-low-power microcontroller market during the forecast period
The market for ultra-low-power microcontrollers with analog devices is high as low power devices are majorly used in different applications to fetch real-world signals such as temperature, pressure, acceleration, and speed, which are measured and converted into digital signals. The benefits of analog peripherals devices include high reliability, reduced noise, low latency, and decreased costs.
The market for the automotive industry is expected to witness the highest growth from 2019 to 2024
The growth of this segment can be attributed to the increasing demand in applications such as interior cabin motors, capacitive touch screens, and infotainment systems. The use of ultra-low-power MCUs in automotive applications also improves fuel efficiency and battery life. In automobiles, analog signals measure speed, pressure, and temperature levels through various body sensors. With the increase in body electronics and telematics in vehicles, these parameters are constantly measured to send required notifications for IoT networks. This forms a base for the growing adoption of integrated analog peripheral devices for automotive applications.
APAC is likely to witness the highest growth during the forecast period
The region has emerged as a global focal point for large investments and business expansion opportunities. The demand for consumer electronics and automobiles is increasing in this region. With the rising population, the penetration of home appliances is growing at a faster rate. This has propelled the ultra-low-power microcontroller market growth.
Also, the adoption of IoT devices is expected to increase in APAC countries such as China, South Korea, and India, which will boost the demand for ultra-low-power microcontroller-embedded low-power devices. Flourishing chip manufacturing companies in countries such as China and South Korea are contributing to the growth of the ultra-low-power microcontroller market in APAC. The region holds a major position in the global semiconductor chip manufacturing industry with China, Japan, South Korea, and Taiwan.
A few ultra-low-power microcontroller ecosystem players are as follows: Texas Instrument Inc. (US), Microchip Technology Inc. (US), STMicroelectronics (Switzerland), Renesas Electronics Corporation (Japan), Cypress Semiconductor Corporation (US).
- Growing Adoption of Low-Power Consumption Devices
- Rising Demand for Low-Power Microcontrollers From Consumer Electronics Industry
- Increasing Use of Building and Home Automation Systems
- Surging Demand for IoT Ecosystem
- Design Complexities in High-Speed and Power-Critical Applications
- Growing Need for Ultra-Low-Power Microcontrollers in Automotive Industry
- Increasing Number of Government Initiatives and Funding Activities for IoT Projects
- Lower Penetration of Ultra-Low-Power Microcontrollers Than That of High- and Low-Power Microcontrollers
Value Chain Analysis
- Implementation of Ultra-Low-Power Microcontrollers in Different Applications
- Ambiq Micro
- Analog Devices
- Cypress Semiconductor
- Elan Microelectronics
- Maxim Integrated
- Microchip Technology
- Nuvoton Technology Corporation
- NXP Semiconductors
- On Semiconductor
- ROHM Semiconductor
- Silicon Labs
- Texas Instruments
- Zilog (A Littelfuse Company)
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