Microcontroller Market Is Expected To Expand At A CAGR Of 9.80% From 2022 To 2030
Microcontroller Industry Overview The global microcontroller market size was valued at USD 18.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. Globally, more than 29 billion units of microcontrollers were shipped in 2021. Microcontrollers are majorly used in devices that require a considerable degree of control utilized by the users. The increasing competition in the industry has led to the low price of the product, which will drive the demand for microcontrollers. The growing awareness regarding smart energy management with the emergence of smart grids is expected to increase the MCU demand. The COVID-19 pandemic has had a substantial impact on the semiconductor manufacturing industries across the globe. The fall in production and exports of microcontrollers in the countries, such as China, Germany, the U.S., Japan, and South Korea, coupled with the labor shortage, has significantly declined the overall market reven...