IMARC Group, a leading market research company, has recently releases report titled, “Microcontroller Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global microcontroller market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
|Market Size in 2022||US$ 24.2 Billion|
|Market Forecast in 2028||US$ 41.5 Billion|
|Growth rate (2023 to 2028)||CAGR of 10.1%|
|Base Year of the Analysis||2022|
A microcontroller is a small microcomputer that is designed to perform particular tasks in an embedded system. It comprises a processor, program or data memory, and input and output (I/O) peripherals on a single chip. It is easy and simple to use and widely available as bus-width, 8-bits, 16-bit, and 32-bit. It assists in reducing the cost and size of the system and requires less time for performing operations. As a result, microcontrollers are widely employed in vehicles, robots, medical devices, mobile radio transceivers, printers, fire detection devices, vending machines, TV, microwave, and air conditioners (ACs) across the globe.
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At present, the increasing demand for microcontrollers in numerous electronic medical devices to measure oxygen levels, blood pressure, temperature, and sugar levels while offering accurate information represents one of the key factors contributing to the market growth. Besides this, the growing use of microcontrollers in consumer electronics around the world is offering a positive market outlook. Apart from this, the rising awareness about smart energy management, along with the emergence of smart grids, is propelling the growth of the market. Moreover, various benefits offered by microcontrollers, such as cost-effectiveness, low operational timings, and the ability to perform multiple tasks at a time, are bolstering the growth of the market. Furthermore, the increasing demand for advanced microcontrollers in electric and automated cars is strengthening the market growth.
The report has segmented the market into the following categories:
Breakup by Product Type:
Breakup by Architecture:
Breakup by Memory:
Breakup by Application:
Breakup by Region:
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