Automotive microcontrollers are integrated chips, which enable control over the automobile functioning. Compact microcontrollers comprising least component designs are integrated into automobiles for performing activities that need functionalities such as monitoring and controlling.
Demand for Microcontrollers Gaining an Upsurge with Increasing Modernization of Vehicles
Growing electrification of drivetrain by Tier I suppliers and OEMs is considered to significantly propel adoption of microcontrollers in automobiles in the upcoming years. Governments across the globe have introduced stringent automotive security and safety norms concerning environmental impacts of production processes and materials used for automotive microcontrollers. With increasing modernization of vehicles, demand for microcontrollers is gaining an upsurge, particularly in applications such as airbags and advanced driver assistance systems (ADAS). Moreover, continuous evolution has been witnessed in the automated electronic control technologies for electronic power steering system, electric control suspension and ADAS. A key trend currently being observed in the global market for automotive microcontrollers is production of vehicles equipped with advanced technologies that have optimized weight to cost ratio.
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A new report by Transparency Market Research (TMR) projects the global automotive microcontrollers market to showcase a splendid expansion at a CAGR more than 10% throughout the forecast period, 2017 to 2024. Global sales automotive microcontrollers are estimated to account for over US$ 1,600 Mn revenues by 2024-end.
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APEJ to Surpass North America in Global Automotive Microcontrollers Market in Terms of Revenues by 2024-end
Most of the vehicles in North America have already been equipped with advanced body electronics and safety features, which in turn has driven the market for automotive microcontrollers in the region. North America stood at the forefront of the global automotive microcontrollers market in 2017. However, the market in Asia-Pacific excluding Japan (APEJ) is projected to surpass that in North America by 2024-end, in terms of revenues as well as CAGR. The market in Middle East & Africa is anticipated to exhibit a robust expansion through 2024. Japan will remain the least lucrative market for automotive microcontrollers, with sales poised to reach nearly US$ 100 Mn in revenues by 2024-end.
Sales of automotive microcontrollers for application in ADAS, functional safety technology, and start-stop system are expected to register similar CAGRs through 2024. Electric control suspension is anticipated to remain the fastest expanding application of automotive microcontrollers throughout the forecast period, followed by electronic power steering system. In contrast, parking assist system application of automotive microcontrollers will witness a sluggish growth through 2024.
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Heavy Commercial Vehicles will Account for Largest Revenues Share of the Market during 2017 to 2024
Based on vehicle type, heavy commercial vehicles are expected to account for the largest revenue share of the global automotive microcontrollers market during the forecast period, followed by premium passenger cars. In addition, light commercial vehicles will also continue to account for a major share of the market, in terms of revenues. Sales of automotive microcontrollers in light commercial vehicles are projected to register the fastest expansion through 2024.
Tinned steel with continue to be preferred among materials used for production of automotive microcontrollers. Revenues from sales of tinned steel-based automotive microcontrollers will reach approximately US$ 600 Mn by 2024-end. Accounting for slightly more than 30% revenue share of the market, copper alloy will remain the second most lucrative material for automotive microcontrollers throughout the forecast period.
Competition Tracking
Players in the global market for automotive controllers are making more investments in the development of software essential for proper automobile functioning. TMR’s report has profiled active players in the global market for automotive controllers, which include Infineon Technologies, Toshiba Corporation, Fujitsu Limited, Maxim Integrated Products, Inc., Microchip Technology Inc., Renesas Electronic Corporation, Silicon Labs Private Limited, NXP Semiconductors NV, Texas Instruments Incorporated, and STMicroelectronics NV.
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