Microcontroller Market to Reach $42.19 Bn, Globally, by 2027 at 11.5% CAGR: Allied Market Research

- Rapid development in the automotive sector, rise in trend of working through automated machines & equipment, and broadening scope of electronic products and technology drive the growth of the global microcontroller market

PORTLAND, Ore., July 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Microcontroller Market by Product Type (8-Bit Microcontroller, 16-Bit Microcontroller, and 32-Bit Microcontroller) and Application (Automotive, Consumer Electronics, Industrial, Medical Devices, Military & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global microcontroller industry was estimated at $16.49 billion in 2019, and is expected to hit $42.19 billion by 2027, registering a CAGR of 11.5% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rapid development in the automotive sector, rise in trend of working through automated machines & equipment, and broadening scope of electronic products and technology drive the growth of the global microcontroller market. On the other hand, chances for operational failure in extreme climatic conditions restrain the growth to some extent. However, high demand for electric and hybrid vehicles is expected to create lucrative opportunities for the key players in the industry.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/284

COVID-19 impact-

• COVID-19 has impacted the global microcontroller market badly. The lockdown across the world has led to a significant decline in the manufacturing of office machinery, power tools, home appliances, and remote controls. Also, disruptions in the supply chain has aggravated the cause yet more.
• However, the government bodies in various regions are coming up with several relaxations on the current regulations. With this, the market is expected to retrieve its position very soon. 

The 32 bit microcontroller segment to dominate by 2027-

Based on product type, the 32 bit microcontroller segment accounted for more than two-fifths of the global microcontroller market revenue in 2019, and is expected to rule the roost by 2027. The same segment is also anticipated to portray the fastest CAGR of 12.5% throughout the forecast period. Increasing trend of working with automated machines & equipment and growing demand for automobiles & smart phones drive the segment growth.

Make Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/284

The automotive segment to lead the trail-

Based on application, the automotive segment contributed to nearly one-fourth of the global microcontroller market share in 2019, and is projected to retain its top status by the end of 2027. The same segment would also manifest the fastest CAGR of 14.2% from 2020 to 2027. Surge in use of numerous microcontrollers in automobile's electronics system and electronic control units propels the growth of the segment.

Asia-Pacific, followed by North America, garnered the highest share in 2019-

Based on geography, Asia-Pacific, followed by North America, hold the major share in 2019, generating more than two-fifths of the global microcontroller market. The region would also grow at the fastest CAGR of 13.4% during the study period. This is due to high adoption of IoT across several smart cities in the province.

Want Customized Report? Ask Here: https://www.alliedmarketresearch.com/request-for-customization/284

Frontrunners in the industry-

• Panasonic Corporation
• Microchip Technology Inc.
• Renesas Electronics Corporation
• NXP Semiconductor
• Zilog, Inc.
• Texas Instruments Incorporated 
• STMicroelectronics N.V.
• Analog Devices, Inc.
• Infineon Technologies AG

Access AVENUE - A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Embedded Processor Market Expected to Reach $36,381.4 Million by 2026

Graphic Processing Unit (GPU) Market Expected to Reach $200.85 Billion by 2027

Power Electronics Market Expected to Reach $36.64 Billion by 2027

GaN Power Device Market Expected to Reach $1.24 Billion by 2027

Server Microprocessor Market Expected to Reach $16 Billion by 2023

Pre-Book Now with 10% Discount:

Display Controller Market: Global Opportunity Analysis and Industry Forecast 2020-2027

Touchscreen Controller Market: Global Opportunity Analysis and Industry Forecast 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg