Jersey City, New Jersey, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The increasing competition within the industry has led to the low price of the product, which is anticipated to further increase the microcontroller demand. The growing awareness of smart energy management with the emergence of smart grids is predicted to extend the MCU demand even more.
Dateline - Jersey City, New Jersey, November 10, 2021
Body - Verified Market Research recently published a report, “Microcontroller Market” By Product (8-bit, 16-bit, 32-bit), By Application (Automobile, Communication, Healthcare), and By Geography. According to Verified Market Research, the Global Microcontroller Market size was valued at USD 310.56 Million in 2020 and is projected to reach USD 786.90 Million by 2028, growing at a CAGR of 14.20% from 2021 to 2028.
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Browse in-depth TOC on “Microcontroller Market”
202 - Pages
126 – Tables
37 – Figures
Global Microcontroller Market Overview
The most important and relevant factors that determine the Microcontroller Market growth are rapid developments and innovations within the automotive sector and increase in trend of working through automated machinery and equipment, exponential increase in the scope of electronic products and technology up-gradation also propels the demand for development of latest products and solutions.
Also, the high demand for electric and hybrid vehicles is expected to supply profitable opportunities for the growth of the microcontroller industry in the future. Some other major drivers for market growth of MCUs are e.g., increasing demand for flexibility and agility in the industrial ecosystem. The rising integration of the internet of things (IoT) is also the factor that is driving the market growth. Growing automation and safety standards in the automotive industry also boost the Microcontroller Market.
The consumer electronics sector will definitely propel the expansion of the market. Growing popularity to figure through automated machines and equipment is another key factor that is driving the market growth. The key restraint in the growth of the Microcontroller market is its failure to function or operate in extreme weather conditions.
Key Players
The major players in the market are Renesas Electronics Corporation, NXP Semiconductor, Infineon Technologies Ag, Microchip Technology Inc, STMicroelectronics N.V., Analog Devices Inc, Panasonic Corporation, Texas Instruments Inc, ZILOG, Inc, EM Microelectronic.
Verified Market Research has segmented the Global Microcontroller Market On the basis of Product, Application, and Geography.
- Microcontroller Market, By Product
- 8-bit
- 16-bit
- 32-bit
- Microcontroller Market, By Application
- Consumer products
- Instrumentation and process control
- Automobile
- Communication
- Healthcare
- Microcontroller Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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