Market and Technology Analysis Report on Microcontrollers-2023More stable and reliable microcontroller market to grow decently at 7-8% in 2023
While other semiconductor markets such as memory and processors are not seeing great growth and in fact falling in the year 2023, there are some categories beating this trend by seeing a decent growth, one such category is microcontroller. Microcontroller-market continue to grow in 2023 due to demand from automotive, industrial automation, robotics and medical electronics.
The total market in the year 2023 for microcontrollers is estimated around US$ 30 billion here we're considering both general-purpose microcontrollers and microcontrollers used in smart cards and such ID devices. In the year 2023 microcontroller market is estimated to grow at 7-8% compared to 2022.
The top three leading vendors in this market include Renesas, NXP and STMicroelectronics. Most of the leading vendors in this market use Arm Cortex based processor architecture in their microcontrollers. However the industry is looking at a RISC V based architecture for their next future plans. At present in 2023 there is not even 5% market for RISC V based microcontrollers. However we foresee huge competition for Arm cortex from RISC V based MCUs.
Geographically Europe, US and Asia are the three big markets for microcontrollers. Europe's automotive market is heavily dependent on microcontrollers, where the suppliers NXP and STMicroelectronics are headquartered in Europe. Japanese automotive focused semiconductor vendor Renesas makes high-end processor microcontrollers targeting automotives.
Key trends in the industry include:
Application of open source RISC V architecture
Emerging of low-power microcontroller vendors
Edge AI-based MCU chips
Enhancing the security featuring MCU chips
Proliferation of applications microcontrollers into every area through IOT based digitalization of systems
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