The global microcontroller market size is estimated to account for USD 47.74 billion by 2027. The market is projected to register over 10% CAGR from 2020 to 2027, as per a new report by Million Insights. Growing automation across several industries, the emergence of industry 4.0 and AI-integration are the key factors driving the demand for the microcontroller in the industrial application. In addition, consumer electronic is one of the major end-users of the microcontroller. Over the past few years, the demand for consumer electronics has increased manifold across regions.
The increasing need for flexibility and agility in the industries due to the reduced product lifecycle is anticipated to bolster the demand for microcontroller units. Besides, increasing development of the smart grid is attributing to the growth of the market. Miniaturization has become a new trend in the production of components. Microcontrollers’ miniaturization not only provides high performance but consume less power.
To download the sample PDF of “Microcontroller Market” Report please click here: https://www.millioninsights.com/industry-reports/microcontroller-market/request-sample
The increasing number of equipment supporting IoT and Ethernet is projected to boost the microcontrollers market growth over the next few years. In the recent past, microcontrollers integrated with wireless interfaces like Bluetooth and ZigBee have witnessed significant growth. Rising focus on implementing the energy-efficient solution in process and discrete industries is estimated to augment sustainable manufacturing.
To browse report summary & detailed TOC, please click the link below: https://www.millioninsights.com/industry-reports/microcontroller-market
Further key findings from the report suggest:
• Over the forecast duration, 32-bit microcontroller segment would be the fastest growing segment.
• In 2019, the automotive segment held the largest share in the market and likely to register over 11% CAGR from 2020 to 2027.
• North America is estimated to continue its dominance in the next seven years.
• Factors such as trade war between the U.S. and China and Brexit are hampering the market growth.
• Leading players operating in the market are ST Microelectronics, NXP Semiconductor, Microchip Technology and Renesas Electronics Corp. among others.
Million Insights segmented the global microcontroller market on the basis of product, application and region:
Microcontroller Product Outlook (Revenue, USD Million, 2016 – 2027)
Microcontroller Application Outlook (Revenue, USD Million, 2016 – 2027)
• Consumer Electronics
• Medical Devices
• Military & Defense
Microcontroller Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• South America
• Middle East & Africa
Browse latest market research reports available with Million Insights:
• Pharmaceutical Glass Packaging Market: The global pharmaceutical glass packaging market was prized by USD 3.79 billion in 2020. It is estimated to witness 8.8% CAGR from 2021 to 2028.
• Legal Marijuana Market: The global legal marijuana market was prized by USD 9.1 billion in 2020. It is estimated to witness 26.7% CAGR from 2021 to 2028.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar