Automotive Microcontrollers Market Forecast to 2024
Posted: Sep 26, 2017
The 2017 Automotive Microcontrollers Market forecast report focuses on regional growth for 15+ countries, leading industry companies, applications of Automotive Lighting System and more with an aim to help take business decisions. Automotive Microcontrollers Market size is mainly driven by customer demand for entertainment systems, safety features, and added convenience.
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.
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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.
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.
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.
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.
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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.
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.
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