Market Size of NA 8-bit Microcontroller Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.75 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America 8-Bit Microcontroller Market Analysis
The North America 8-bit microcontroller market is expected to register a CAGR of 1.5% over the forecast period (2022 - 2027). Over the forecast period, the North American market for 8-bit microcontrollers is likely to be driven by innovations in various segments, such as communication, consumer devices, and automotive with Automobiles, Consumer Electronics accounting for largest market share.
- North America is one of the largest automotive manufacturing hubs in the world. The region's economic growth had an impact on the sale of passenger cars and commercial vehicles. According to the American Automotive Policy Council 2022, American Automakers heavily invest in R&D activities, and automotive microcontrollers are shaping the automobile industry with the increase in vehicle production by driving the demand for 8-bit microcontrollers.
- The North American region is one of the leading consumers of microcontrollers due to the strong demand for high-end applications across major end-user industries. For instance, hybrid and self-driven vehicles are driving factors for 8-bit microcontrollers.
- As most of the devices in present-day scenario are turning into IoT enabled and in the technologically savvy regions like United States , Canada with the adoption of these technologies, there is a growing demand for the 8-bit microcontrollers market across many end-user industries like Home Appliances, Automotive, Healthcare Consumer, Manufacturing, Defense, Aerospace, Communications, and Energy ).
- The upgradation in technologies like artificial intelligence, IoT and an exponential increase in electronic products that include cameras, laptops, and computers are propelling the demand for the 8-bit microcontrollers market with the developments of the latest products in the communications industry, automation industry, instrumentation and process control, the healthcare industry.
- The COVID-19 pandemic and lockdown restrictions impacted industrial activities globally. The consequences of lockdowns include shipping problems, lack of availability of raw materials used in the manufacturing process, disruptions in the supply chain, and labor shortages has significantly declined the market growth.
