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Automotive Microcontroller Market in APAC will witness significant growth during forecast period

Author : Ronak Bora | Published Date : 2019-04-04 

Global Market Insights, Inc. added research on automotive microcontroller market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

Asia Pacific automotive microcontroller market dominated the overall industry share in 2016 and is expected to continue with the same trend. This growth is attributed to rapid vehicle electrification in the Chinese market in two-wheeler as well as four-wheeler segments. Upcoming new and stringent regulations will support the automotive microcontroller market growth in the region.

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New generation vehicles are equipped with number of electronic components for serving safety and security features such as airbags, anti-lock braking systems, and advanced driver assistance system. Safety and security application is expected to exhibit highest CAGR over the next ten years owing to increasing legal mandates.

Vehicle manufacturers will purchase the electronic components frequently in the near future to install in the connected cars, electric vehicles, and autonomous cars and will gain momentum with additional features. Integrated units like multiple MCUs along with sensors and MEMS will ensure redundancy and increase reliability. The automotive microcontroller market has growth opportunities in the forecast time frame.

Passenger cars is projected to have largest industry share in 2024 owing to rising implementation of safety features in developed countries have incentivized the auto makers to produce cars equipped with advanced technologies.

Online navigation and hands free mobile services are becoming standardized in new generation vehicles. The auto makers are moving ahead with developments in connected cars to increase the safety of drivers. New offerings in the vehicle include telematics, voice assistance, and automatic calls for emergency services that will be supported by 4G and 5G networks. For instance, BMW automobiles connect to smart home app thereby enabling drivers to manipulate their home’s lighting and heating systems, while they are on the streets. Increased connectivity will boost the automotive microcontroller market size by 2024.

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Wide range of applications are served by the advanced semiconductors thereby boosting the automotive microcontroller market size. The major applications include collision warning, telematics, navigation, engine control, tire pressure warning, ADAS, and many others. Growth of autonomous vehicles will support the growth of automotive microcontroller market.

Price sensitivity of the product may lead to increase in the total costs as a vehicle employs several electronic circuits to serve multiple functionality. Right choice of electronics is very important which may help the designers in reducing the cost. Looking upon technical features of the product, cost pressure can be balanced. High cost of the product may pose threat to the automotive microcontroller market growth.

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Automotive microcontroller market players include Texas Instruments, STMicroelectronics, Infineon Technologies AG, ON Semiconductor Corp., Maxim Integrated Products, Renesas Electronics Corp., NXP Semiconductors N.V., and Toshiba Corp. Manufacturers are involved in developing long term relationship with the auto makers to increase its sales and sustain in the competition.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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