Automotive Microcontroller Market is anticipated to grow at a CAGR of 7.2% during 2023-2028

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Automotive Microcontroller Market is anticipated to grow at a CAGR of 7.2% during 2023-2028

May 17
23:42 2023
Automotive Microcontroller Market is anticipated to grow at a CAGR of 7.2% during 2023-2028
Trends and Forecast for the Automotive Microcontroller Market
Trends, opportunities, and forecast for the global automotive microcontroller market from 2017 to 2028 by electric vehicle (battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles), bit size (8-bit microcontrollers, 16-bit microcontrollers, and 32-bit microcontrollers), technology (adaptive cruise control, park assist system, blind spot detection, and tire pressure monitoring system), application (body electronics, chassis & powertrain, infotainment

The global automotive microcontroller market is projected to reach $9.9 billion by 2028, at a CAGR of 7.2% during 2023-2028. The growth of automotive microcontroller market is driven by high demand for safety features in vehicles and an increase in demand for capacitive touch sensing button sliders and wheels.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the automotive microcontroller market by electric vehicle (battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles), bit size (8-bit microcontrollers, 16-bit microcontrollers, and 32-bit microcontrollers), technology (adaptive cruise control, park assist system, blind spot detection, and tire pressure monitoring system), application (body electronics, chassis & powertrain, infotainment & telematics, and safety & security segments), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the automotive microcontroller market?

Q.4 What are some changing demands of customers in the automotive microcontroller market?

Q.5 What are the new developments in the automotive microcontroller market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this automotive microcontroller area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this automotive microcontroller market?

 

Market Segmentation:

Based on bit size, the automotive microcontroller market is segmented into 8-bit microcontrollers, 16-bit microcontrollers, and 32-bit microcontrollers. The 32-bit microcontrollers segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing usage of this microcontroller in all the major applications of vehicles, like gearbox and central control units.

APAC will remain the largest region due to significant growth in automotive production and increasing demand for vehicles equipped with advanced body electronics and safety features in countries, like South Korea and Japan.

Key Players in the automotive microcontroller market are Toshiba, Infineon, NXP Semiconductors, ON Semiconductor, and Analog Devices.

Request Sample Pages by clicking on https://www.lucintel.com/automotive-microcontroller-market.aspx

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.lucintel.com/automotive-microcontroller-market.aspx

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Roy AlmaguerLucintel Dallas, Texas, USA Email: [email protected] Tel. 972.636.5056

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