Global market insights forecasts Automotive Microcontrollers Market growth

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.

Asia Pacific dominated the overall industry share in 2016 and is expected to continue with the same trend. This growth is attributed to rapid vehicle electrification in the Chinese market in two-wheeler as well as four-wheeler segments. Upcoming new and stringent regulations will support the automotive microcontroller market growth in the region.

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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.

Players focus on developing technologies such as driving assistance that will encourage the OEMs to adopt efficient electronic products to meet with the ongoing customer demand. Increasing use of technology is estimated to spur the business sales especially in passenger cars segment.

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