Global Microcontroller market is expected to reach $53.37 billion by 2027
GAITHERSBURG, Md., Aug. 5, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Microcontroller Market is accounted for $21.10 billion in 2019 and is expected to reach $53.37 billion by 2027 growing at a CAGR of 12.3% during the forecast period.
Some of the key players profiled in the Microcontroller Market include ARM Ltd., Cypress Semiconductor Corporation, Fujitsu Semiconductor Limited, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor N.V., Panasonic Corporation, Renesas Electronic Corporation, STMicroelectronics, Texas Instrument Incorporated, Zilog, Inc., Yamaichi Electronics Co., Ltd., Toshiba Electronic Devices & Storage Corporation and TE Connectivity Ltd.
Growing demand from medical and automotive sectors and growing adoption of smart meters in smart grid systems are the major factors propelling the market growth. However, the unfavourable macroeconomic conditions are hampering the growth of the market.
Request for sample here: https://www.strategymrc.com/report/microcontroller-market/request-sample
Based on the product, the 8-bit segment is estimated to have a lucrative growth in the forecast period. The 8-bite technology simplifies the product design and lowers the material costs. The developers select the controllers based on the processing capability required, degree of interfacing required, and power consumption. An 8-bit MCU comprises a low gate count, software simplicity, and slighter complexity, which makes it cheaper than the other types of microcontrollers.
Access the complete report at: https://www.strategymrc.com/report/microcontroller-market
By geography, North merica is going to have a lucrative growth during the forecast period due to the prevailing large customer base for tablets, smartphones, and other consumer electronics. Furthermore, increasing penetration of IoT ecosystems in homes and corporate places in the region has led to the rise in demand for smart electricity gadgets, medical devices, sensors, and other IoT enabled devices, which is expected to drive the regional market growth.
Make an inquiry at: https://www.strategymrc.com/report/microcontroller-market
What our report offers:
- Market share assessments for the regional and country-level segments
Follow us on Twitter: https://twitter.com/StratisticsMRC
Follow us on LinkedIn at: https://www.linkedin.com/company/stratistics-market-research-consulting-pvt-ltd?trk=mini-profile
About Stratistics MRC
We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.
SOURCE Stratistics Market Research Consulting