Northbrook, IL -- (SBWIRE) -- 02/15/2022 -- According to the new research report, the "Ultra-low-power Microcontroller Market by Peripheral Device (Analog Devices and Digital Devices), Packaging Type (8-bit, 16-bit, and 32-bit), End-Use Application, & Region (North America, Europe, APAC, Rest of the World) - Global Forecast to 2027", published by MarketsandMarkets™, the Ultra-Low-Power Microcontroller Market is projected to grow from USD 4.9 billion in 2022 to USD 7.9 billion by 2027; it is expected to grow at a CAGR of 10.3% from 2022 to 2027.
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The key factors fueling the growth of the market include increasing demand for energy-efficient components, miniaturization, and penetration of IoT-connected devices. Moreover, increasing investments by automotive OEMs and government to promote the adoption of electric vehicles is expected to create abundant opportunities in market.
The analog segment is projected to hold a larger share of the ultra-low-power microcontroller market from 2022 to 2027 and is projected to grow at a higher CAGR than the digital segment during the forecast period.
The overall ultra-low-power microcontroller market growth is attributed to the accelerated requirement for low-power electronics, escalated demand for building and home automation systems, high adoption of IoT and connected devices, and rapid technological growth in the automotive industry.
The 32-bit segment of the ultra-low-power microcontroller market is expected to grow at the highest CAGR during the forecast period.
32-bit ultra-low-power microcontrollers use 32-bit instruction code and offer a higher level of precision in the embedded system and other IoT networks. With the migration of manufacturers from 8-bit and 16-bit production to 32-bit ultra-low-power microcontroller production, the global ultra-low-power microcontroller supply trend has shown a considerable shift toward 32-bit packaging.
The consumer electronics segment of the ultra-low-power microcontroller market in APAC is expected to hold the biggest market share during the forecast period.
The ultra-low-power microcontroller market for consumer electronics in Asia Pacific is projected to grow at the highest CAGR during the forecast period. Smart devices such as wearables, building automation devices, and smart appliances such as white goods are witnessing increasing demand and adoption globally. The rising demand for portable devices is acting as an opportunity for the growth of the ultra-low-power microcontroller market for consumer electronics. Microchip and Analog Devices are among the major suppliers involved in the market for consumer electronics.
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Asia Pacific region is expected to hold the largest share in the market during the forecast period.
With the increasing penetration of telecommunication infrastructure in APAC, the adoption of low-energy consumption devices with better processing ability is expected to increase, thereby driving the demand for ultra-low-power microcontrollers in APAC.
The key players operating in the ultra-low-power microcontroller market include are Texas Instruments (US), Microchip Technology (US), STMicroelectronics (Switzerland), Renesas Electronic Corporation (Japan), and Infineon Technologies AG (Germany).
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