The automotive microcontroller market value is estimated to be USD 14.32 billion in 2024. The market is predicted to grow at a CAGR of 8.27% over the forecast period. The industry share is estimated to reach a value of nearly USD 31.7 billion by 2034.
Automotive Microcontroller Market Trends & Analysis
| Report Attribute | Details |
|---|---|
| Automotive Microcontroller Market Size (2024) | USD 14.32 billion |
| Market Anticipated Forecast Value (2034) | USD 31.7 billion |
| Projected Growth Rate (2024 to 2034) | 8.27% CAGR |
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The market size in 2019 was nearly USD 8.89 billion and it expanded at a CAGR of 7.3% until 2023. In 2023, the net worth of the market was USD 13.23 billion.
The cost of microcontrollers has witnessed a decline over the past few years. However, tags for microcontrollers are expected to increase in the upcoming years, thereby spurring their costs.
| Attributes | Details |
|---|---|
| Automotive Microcontroller Market Value (2019) | USD 8.89 billion |
| Historical Market Size (2023) | USD 13.23 billion |
| Historical CAGR (2019 to 2023) | 7.3% |
Tinned steel is expected to continue to be the preferred material for automotive microcontrollers. The revenue from sales of tinned steel is projected to account for a substantial share of the market. Copper alloys are also anticipated to remain the second most desired material for in-vehicle microcontrollers.
So, the expansion of raw material sources and the strengthening of international trade channels are anticipated to boost affordable automotive microcontroller production during this forecast period.
With the advent of electric vehicles, automotive microcontroller applications have increased manifold for controlling electric drivetrains, battery systems, and power distribution in electric cars. The rising concern for global warming has caused many nations to implement regulations and encourage electric mobility solutions that are expected to drive sales of automotive microcontrollers.
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The table below lists the countries that are expected to be the leading markets during the forecast period.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 6.4% |
| Germany | 5.1% |
| China | 12.1% |
| India | 11.1% |
| Australia | 8.7% |
The United States market is forecasted to expand at a CAGR of 6.4% over the forecast years.
Germany is expected to dominate the European market and thrive at a 5.1% CAGR through 2034.
The automotive microcontroller industry in China is anticipated to witness a CAGR of 12.1% during the projected years.
Automotive microcontroller sales in India are poised to increase at a CAGR of 11.1% from 2024 to 2034.
The demand for automotive microcontrollers in Australia is expected to witness a year-on-year growth rate of 8.7% through the forecast years.
On the basis of vehicle type, heavy commercial vehicles are expected to dominate the automotive microcontroller market in terms of revenues, followed by premium passenger cars and electric vehicles. However, sales of automotive microcontrollers in the mid-size passenger vehicles segment are expected to account for a market share of 23.4%.
| Attributes | Details |
|---|---|
| Top Vehicle Type | Mid-size Passenger Vehicle |
| Market Share in 2024 | 23.4% |
The revenue from sales of automotive microcontrollers for application in electronic power steering is expected to account for 37.67% of the market.
| Attributes | Details |
|---|---|
| Top Application segment | Electronic Power Steering |
| Market Share in 2024 | 37.67% CAGR |
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The overall market remained concentrated as very few manufacturers were able to compete at a global level with sufficient technical knowledge and infrastructure to produce reliable automotive microcontrollers. However, greater government support for establishing original equipment manufacturing (OEM) industries in emerging economies is currently fragmenting the global market.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 14.32 billion |
| Projected Market Size (2034) | USD 31.7 billion |
| Anticipated Growth Rate (2024 to 2034) | 8.27% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Material Type, By Application, By Vehicle Type, and By Region |
| Key Companies Profiled | Texas Instruments Incorporated; NXP Semiconductors NV; STMicroelectronics NV; Microchip Technology Inc.; Renesas Electronics Corporation; Silicon Labs Private Limited; Fujitsu Limited; Maxim Integrated Products, Inc.; Infineon Technologies; Toshiba Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The automotive microcontroller market is estimated to be USD14.32 billion in 2024.
The market is projected to grow at 8.27% through 2034.
The market value is expected to reach a valuation of USD 31.7 billion by 2034.
The market was valued at USD 8.89 billion in 2019.
The market in China is set to witness a 12.1% CAGR through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Type 5.1. Tinned Steel 5.2. Nickel-Cobalt Ferrous Alloy 5.3. Copper Alloy 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vehicle Type 6.1. Compact Passenger Cars 6.2. Mid-sized Passenger Cars 6.3. Premium Passenger Cars 6.4. Luxury Passenger Cars 6.5. Light Commercial Vehicles 6.6. Heavy Commercial Vehicles 6.7. Electric Vehicle 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Advanced Driver Assistance System 7.2. Parking Assist System 7.3. Brake Control System 7.4. Electric Control Suspension 7.5. Airbags 7.6. Functional Safety Technology 7.7. Transmission Control 7.8. Start-Stop System 7.9. Electronic Power Steering System 7.10. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Toshiba Corporation 18.2. Texas Instruments Incorporated 18.3. NXP Semiconductors NV 18.4. STMicroelectronics NV 18.5. Microchip Technology Inc. 18.6. Renesas Electronics Corporation 18.7. Silicon Labs Private Limited 18.8. Fujitsu Limited 18.9. Maxim Integrated Products, Inc 18.10. Infineon Technologies 19. Assumptions & Acronyms Used 20. Research Methodology
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Automotive Microcontroller Market
