Automotive Microcontrollers Market Development, Growth, Trends, Demand, Analysis And Forecast 2024
Date: 2018-10-24   Author: Ronak Bora  Category: #technology

Automotive Microcontrollers Market Development, Growth, Trends, Demand, Analysis And Forecast 2024

Automotive Microcontrollers Market has witnessed immense competition owing to presence of several players. For instance, Intel, BMW, Mobileye collaborated to develop autonomous test vehicles. Similarly, Audi’s collaboration with NVIDIA develops innovative features in its vehicles.

Automotive Microcontrollers Market is mainly driven by customer demand for entertainment systems, safety features, and added convenience. Vehicle electrification will surge the demand for automotive microcontroller market in the forecast timeline. Various government initiatives taken in the interest of reducing pollution and conserving environment will increase the adoption rate of electric vehicles. Moreover, the major automobile OEMs attraction for the electric vehicle is supporting the growth of MCUs. Rising adoption of these vehicles due to the benefits, such as emission-free mobility and less maintenance as compared to petrol or diesel vehicles, is expected to increase the industry demand over the forecast period. Growing awareness among the consumers about the electric vehicles, demand for eco-friendly lifestyle, and uncertainty of the fuel prices and secondary factors are fueling the industry demand. Secondary factors include infotainment, comfort, and entertainment systems.

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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 microcontrollers industry size by 2024.

Technological advancements will enhance the automotive microcontroller market in the forecast time line. For instance, in August 2017, LG Innotek developed V2X full module that can be used in autonomous vehicles and connected cars. Due to its minimum size and excellent durability the device can be equipped in any part of the vehicle. With this technology auto makers now, need not separately install different parts and undergo multiple tests which results in improved communication ability of the connected cars as well as product reliability.

Wide range of applications are served by the advanced semiconductors thereby boosting the automotive microcontrollers industry 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 microcontrollers 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 microcontrollers industry growth.

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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 industry 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.

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. 

Asia Pacific 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.

Automotive microcontrollers 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.

Players focus on developing technologies such as driving assistance that will encourage the OEMs to adopt efficient electronic products to meet with the ongoing customer demand. Increasing use of technology is estimated to spur the business sales especially in passenger cars segment. For instance, in September 2017, the Qualcomm Technologies announced to launch its first C-V2X that is Cellular Vehicle to Everything, a commercial solution. It is based on 3GPP- Third Generation Partnership Project for direct communications. It will meet the automobile manufacturer demands for ensuring road safety and is anticipated to be available for commercial sampling in 2018.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline 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.


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