New Microcontroller Market Research Highlights Recovery Path for Businesses from COVID-19 based on Product - 32-bit Microcontrollers, 8-bit Microcontrollers, and 16-bit Microcontrollers | Technavio
The new Microcontroller Market Research from Technavio indicates Negative and Inferior growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Microcontroller Market 2020-2024 (Graphic: Business Wire)
"One of the primary growth drivers for this market is the increasing use of microcontrollers in automobiles," says a senior analyst for Information Technology industry at Technavio. "Microcontrollers are highly used in automobiles as they reduce fuel consumption and enable efficient functioning by managing ECU diagnostics and powertrain functions. Microcontrollers and MPUs enhance the customer experience in automobiles by efficiently controlling the function of advanced features of cars such as heads-up display, studio-quality sound systems, movie systems, seamless connectivity solutions, and advanced driver assistance systems (ADAS). Moreover, microcontrollers are increasingly used for controlling various ECU functions in automobiles such as controlling power windows, safety systems, seats, taillights, headlights, steering, and braking systems. As a result, the increasing use of microcontrollers in automobiles will drive the market. As the markets recover Technavio expects the microcontroller market size to grow by USD 5.95 billion during the period 2020-2024.
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Microcontroller Segment Highlights for 2020
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