According to the latest report by IMARC Group titled, “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market is expected to grow at a CAGR of around 7% during 2019-2024.
A microcontroller is an integrated circuit, which is installed in electronic devices to perform a specific task. It consists of programmable peripherals, processors and memory, along with multiple serial ports on a single computer chip. It is compact, has low power requirements and is embedded in devices, such as smartphones, microwave ovens, washing machines and laptops. The technologically advanced variants are utilized in marine vessels, aircraft, medical life support systems and robots to perform specialized functions.
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The global market is driven by the thriving healthcare sector, which utilizes the product in heart rate monitors, spirometers and other devices. Furthermore, growth in the automotive industry which employs microcontrollers for operating accelerators, anti-lock brake interfaces and advanced driver assistance systems (ADAS) in automobiles, is also contributing to the market growth. Other factors, including the expansion of smart grid systems and the increasing trend of automation across manufacturing, retail, industrial and military sectors, along with the rising demand for portable electronics that require greater processing speeds and higher functionalities, are projected to drive the market further.
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Key Market Segmentation:
Breakup by Product Type:
Breakup by Architecture:
Breakup by Memory:
Embedded Memory Microcontroller
External Memory Microcontroller
Breakup by Application:
Powertrain and Chassis
Safety and Security Systems
Infotainment and Telematics
Breakup by Region:
Middle East and Africa
The report has also examined the competitive landscape of global microcontroller market.
Key highlights of the report:
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Profiles of Key Players
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