CHICAGO, Oct. 10, 2019 /PRNewswire/ -- According to the
new market research report "Ultra-low-power
Microcontroller Market by Peripheral Device (Analog Device and
Digital Device), Packaging Type (8-bit Packaging, 16-bit Packaging,
and 32-bit Packaging), End-use Application, and Region - Global
Forecast to 2024", published by is MarketsandMarkets™, the
Ultra-low-power Microcontroller Market is expected to be worth
USD 4.4 billion in 2019 and is
projected to reach USD 12.9 billion
by 2024, at a CAGR of 24.1% from 2019 to 2024.
The growth of the ultra-low-power microcontroller market is
fueled by the growing adoption of low-power consumption devices,
rising demand for low-power microcontrollers from consumer
electronics industry, increasing use of building and home
automation systems, and surging demand for IoT ecosystem. The
growth of the ultra-low-power microcontroller market can also be
attributed to the technological advancements such as the
development of low-power MCUs and design of 32-bit MCUs for IoT,
and the increasing production of ultra-low-power MCUs.
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The market for 32-bit ultra-low-power microcontroller
expected to hold the largest market share during the forecast
period
The 32-bit ultra-low-power microcontroller segment is expected
to lead the market between 2019 and 2024. The growth of these
microcontrollers can be attributed to its feature of offering a
balance between power consumption and high performance. This helps
to meet the needs of power-constrained or low-power applications
seeking battery-savvy functionality for the Internet of Things
(IoT) and connected devices.
Analog devices expected to grow at the highest CAGR during
the forecast period
The market for ultra-low-power microcontrollers with analog
devices is high as low power devices are majorly used in different
applications to fetch real-world signals such as temperature,
pressure, acceleration, and speed, which are measured and converted
into digital signals. The benefits of analog peripherals devices
include high reliability, reduced noise, low latency, and decreased
costs. A few of the applications of integrated analog peripherals
include industrial instrumentation solutions, industrial
controllers, connected home consoles, thermostats, temperature
sensors, smart meters, smart grids, blood glucose meters, heart
rate monitors, implantable devices, and IoT devices.
The market for consumer electronics expected to hold a
significant share of the ultra-low-power microcontroller market in
2019
Ultra-low-power microcontrollers are prominent components of
consumer electronics such as laptops, smartphones, gaming devices,
smart home devices, and intelligent appliances. Along with the
shrinking size of electronic components in electronic devices,
manufacturers also focus on producing devices that consume lower
power. Therefore, companies are manufacturing devices equipped with
ultra-low-power microcontrollers. Owing to the high penetration of
ultra-low-power microcontrollers in consumer electronic devices,
the consumer electronics application is expected to continue to
account for the largest market share during the forecast
period.
Browse in-depth TOC on "Ultra-low-power
Microcontroller Market"
153 – Tables
52 – Figures
190 – Pages
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Asia Pacific held the
largest share of the ultra-low-power microcontroller market in
2019
The demand for consumer electronics and automobiles is
increasing in this region. With the rising population, the
penetration of home appliances is growing at a faster rate. This
has propelled the ultra-low-power microcontroller market growth.
Also, the adoption of IoT devices is expected to increase in APAC
countries such as China,
South Korea, and India, which will boost the demand for
ultra-low-power microcontroller-embedded low-power devices.
Further, APAC is also an appealing manufacturing hub with a large
number of manufacturing plants. With growing industrial IoT in the
region, the need for low power, battery-operated devices has been
increasing, which has led to the growth of the ultra-low-power
microcontroller market.
The report profiles key players, including Texas Instrument Inc.
(US), Microchip Technology Inc. (US), STMicroelectronics
(Switzerland), Renesas Electronics
Corporation (Japan), Cypress
Semiconductor Corporation (US), NXP Semiconductors N.V.
(The Netherlands), Silicon
Laboratories, Inc. (US), Maxim Integrated (US), Analog Devices,
Inc. (US), and ON Semiconductor (US).
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Embedded Systems Market by Hardware (MPU, MCU,
Application Specific IC / Application Specific Standard Product,
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