Attributing to the expanse of automation across various end-use segments such as consumer electronics, automotive, and military & defence, the global microcontroller market sales is projected to grow at a stellar CAGR of 10% during 2021 – 2029, According to a new market study by Fact.MR, opportunities in consumer electronics with propelling sales of smart devices which incorporate microcontrollers further complement the market growth.
Microcontroller Market – Key Takeaways
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Microcontroller Market – Key Driving Factors
Microcontroller Market – Key Restraint Operational failures of microcontrollers in extreme climatic conditions such as extreme cold and extreme heath, hinder smooth working in end-use applications, thereby possessing a challenge to the rapid growth of the market.
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Competition Landscape
Some of the key players in the microcontroller market are Fujitsu Semiconductor Limited, Cypress Semiconductor Corporation, Microchip Technology Inc., NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, TE Connectivity Ltd, Texas Instruments Incorporated, Yamaichi Electronics Co., Ltd., and Zilog, Inc., among others. Furthermore, automation start-ups are projected to see an upsurge in revenue in the foreseeable future. Leading players are investing in research and development activities to decrease the size of microcontrollers and increase the processing power.
About the Report
This 170-page study offers readers a comprehensive market forecast of the global microcontroller market. With historical demand data (2014-2018) and forecast statistics for the period, 2019-2029, the study divulges compelling insights on the microcontroller market based on product type (8-bit, 16-bit, and 32-bit), application (automotive, consumer electronics, industrial, medical devices, and military & defense), and across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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