Microchip Market To Witness High Growth In Near Future.

The global microchip market is expected to register a robust CAGR during the forecast period, 2020–2027. The growth of the market is attributed to the rising demand for consumer electronic items including smartphones, computers, and smart televisions as well as wide adoption of microchip in various applications across industries including healthcare and automotive sectors. Meanwhile, the market growth is expected to decline at a certain extent between 2019 and 2020 owing to the negative impact of COVID 19 pandemic on the global microchip market.