8 – bit Microcontroller Market
Rise in demand from the automotive and medical sectors across the globe is an important factor boosting the market growth. The occurrence of diseases, such as high blood pressure and diabetes, and the rising percentage of geriatric population are anticipated to contribute to the huge demand in electronic medical devices to measure sugar levels and blood pressure.
8-bit microcontrollers are expected to experience upsurge in demand as they reduce the cost of medical devices and also provide accurate reading and medical information. The demand for 8-bit microcontrollers from medical equipment manufacturers is expected to witness a considerable rise in the near future. In addition, the growing penetration of smartphones in emerging countries and the availability of smartphones in various price ranges fuel the demand for 8-bit microcontrollers.
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The healthcare and automotive sectors are thriving across the world. Growing disposable income and more spending on healthcare by governments are the major factors for the market growth. This has also enabled the use 8-bit microcontrollers for different products and services being offered by different healthcare providers and automotive manufacturers. The 8-bit microcontroller is now being utilized broadly across industries such as consumer care, manufacturing, and energy. 8-bit microcontrollers play a key role within these sectors as they are embedded in machinery or consumer products.
In addition, HVAC systems are the major applications for microcontrollers that are greatly influencing the growth rate of the market. On the other hand, reduction of system size and weight is expected to increase the industry growth during the forecast period. Furthermore, the increasing need for fuel efficiency, comfort, and growing demand for luxury vehicles are expected to further fuel the adoption rate of 8-bit microcontrollers, thereby impacting the market growth.
Growing adoption of Internet of Things (IoT)-enabled devices is impacting the 8-bit microcontroller market positively. The increasing demand for connected technologies plays a vital role in the adoption of IoT. Smart devices, such as smart wearables, thermostats, smoke detectors, and glass breakage detection systems, use 8-bit MCUs, which offer ultra-low power consumption and promote high-performance analog features.
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Smart thermostats employ 8-bit microcontrollers as a cost-effective, low-energy solution. The residential sector constitutes the key market for smart thermostat usage in smart homes. With the growing initiatives for smart homes across various countries, these devices are witnessing increased adoption, specifically in the technologically rich, North America region.
COVID-19 Scenario Analysis
1. The COVID-19 pandemic is continually hindering the production and trades of several electronics and semiconductor products globally.
2. This is attributed to the temporary shutdown of international borders as well as manufacturing facilities across major countries such as India, China, South Korea, and Japan.
3. As an effect, a temporary decline in the 8-bit microcontroller sales and demand globally has been observed. Moreover, increasing conflicts between two large economies, such as the imposition of heavy tariff by the U.S. on several electronic products imported from China, are further expected to hamper the market growth.
4. However, the market has recovered and various key players in the market are observing growth in their revenues related to microcontroller business. For instance, Microchip, a leading market player has observed decline of 2% year over year revenue for the September quarter. In December quarter, Microchip anticipated revenue to be up 0%-5% sequentially or 2%-7% year over year.
5. The market players are observing a recovery in microcontroller demand from automotive, home appliances, industrial, and medical device customers.
The global 8-bit microcontroller market is experiencing significant growth and is expected to grow considerably in the next few years. An 8-bit microcontroller is a small component on a single integrated circuit. The microcontroller used in embedded system design is primarily focused on control capabilities, where integration is the primary objective. Based on application, chip designers integrate different degrees of memory, input/output interface, and computational ability into a single controller.
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The global 8-bit microcontroller market is segmented on the basis of type, industry vertical, and region. Based on type, the 8-bit microcontroller market is divided into lеѕѕ thаn 80 ріnѕ, 80-120 ріnѕ, and mоrе thаn 120 ріnѕ. In terms of industry vertical, the market is categorized into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global 8-bit microcontroller industry include Atmel, Sony, Renesas Electronics, Zilog, Infineon Technologies, Cypress, Microchip, Texas Instruments, and NEC Electronics. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global 8-bit microcontroller market.
Key Benefits of the Report
1. This study presents the analytical depiction of the global 8-bit microcontroller market forecast along with the current trends and future estimations to determine the imminent investment pockets.
2. The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global 8-bit microcontroller market share.
3. The current market is quantitatively analyzed to highlight the global 8-bit microcontroller market growth scenario.
4. Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
5. The report provides a detailed 8-bit microcontroller market analysis based on competitive intensity and how the competition will take shape in the coming years.
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