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Global Microcontroller Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Bit Size, by ApplicationLONDON, Dec. 14, 2016 /PRNewswire/ -- The growing automotive industry and increasing smartphone proliferation are the key growth drivers for the global microcontroller market. Globally, the automotive industry has been witnessing a period of moderately strong growth as well as profitability. The annual sales have surpassed prerecession levels in some of the economies. The growing need for energy efficient vehicles is creating opportunities for microcontrollers. There is significant steep increase in the adoption of hybrid and electric vehicles, especially in the countries with stringent regulatory framework for environmental concerns. On account of this scenario, the global microcontroller market is expected to gain traction during the forecast period. IoT is the next cutting edge of the Internet, representing an undeniable opportunity across a myriad of applications including consumer electronics, automotive and industrial. IoT as a whole can potentially transform almost every aspect of how we work, live, and play both at global as well local levels. IoT applications are gaining popularity among tech savvy consumers, primarily due to its extraordinary features exhibited in smart devices. This is expected to boost the demand for microcontrollers in the coming years. The growing adoption of connected cars in the developing economies, such as Asia Pacific, Latin America and Middle East & Africa is likely to augment the global microcontroller market over the forecast period. Globally, this trend is being noticed to a greater extent; as there is double digit downfall in year-on-year growth rates of the average selling prices (ASP) of microcontrollers. Despite this much of ASP erosion, the overall market revenue is still expected to grow at a healthy CAGR during 2016-2022. Some of the key companies operating in the global microcontroller market include Texas Instruments Incorporated, Microchip Technology Inc., Silicon Laboratories, Intel Corporation, Renesas Electronics Corporation, Maxim Integrated, Fairchild Semiconductor, STMicroelectronics, Analog Devices Inc. and Samsung Semiconductor. Download the full report: https://www.reportbuyer.com/product/4402412/ About ReportBuyer ReportBuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-microcontroller-market-size-share-development-growth-and-demand-forecast-to-2022---industry-insights-by-bit-size-by-application-300378739.html SOURCE ReportBuyer |