Press release
Microcontrollers Market : Proliferation of IoT Fueling Growth of The Global Market
The rate of adoption of Internet of Things (IoT) is considerably high in various end-use industries such as automotive, consumer electronics, aerospace & defense, IT & telecommunication, and healthcare. Currently, rise in the demand for IoT microprocessors due to the expanding web of connected devices, which include smartphones, televisions, tablets, home appliances, gaming consoles, smart meters, and security systems, is projected to boost the growth in the global microcontroller market during the forecast period.View Our Report @ https://www.transparencymarketresearch.com/microcontrollers-market.html
The significant expansion of the web of devices is propelling the demand for IoT microcontrollers, which, in turn, is anticipated to fuel the global microcontrollers market. Additionally, initiatives taken by various governments to boost Industry 4.0 are anticipated to drive the microcontrollers market.
Transparency Market Research delivers key insights on the global microcontrollers market. In terms of revenue, the global microcontrollers market is estimated to expand at a CAGR of 11% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global microcontrollers market.
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The global microcontrollers market is broadly affected by several factors, including rising demand from the consumer electronics industry.
Microcontrollers are solitary chip microcomputers fabricated from VLSI fabrication, also known as embedded controllers, which specially designed for embedded applications, in contrast to the microprocessors used in personal computers or other general-purpose applications that include various discrete chips. A microcontroller comprises components such as memory, peripherals and most importantly, a processor. Microcontrollers are essentially employed in devices that need a degree of control to be applied by the user of the device.
The global microcontrollers market is projected to expand during the forecast years due to increase in penetration of consumer electronics devices. The rise in rate of adoption of miniature consumer electronic products in day-to-day life is also estimated to boost the global microcontroller market during the forecast period. Moreover, technological advancements and growing R&D investments in the development of microcontrollers also propel the demand for the global microcontroller market. Surge in use of microcontrollers across consumer electronics & consumer goods industries and in the manufacture of medical equipment is anticipated to augment the demand for microcontrollers.
The wearable devices market also offers significant opportunities for the global microcontrollers market. Wearable health monitoring devices are being extensively utilized for the constant monitoring of vital signs of patients, children, athletes or fitness buffs, and individuals and premature infants, in remote areas far from medical services. Thus, the growing trend of wearable personal monitor devices is expected to fuel the microcontrollers market.
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Key players operating in the global microcontrollers market are Analog Devices Inc., Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, On Semiconductor, Maxim Integrated, and Toshiba Corporation.
About Transparency Market Research:
Transparency Market Research is a Global Market Research Report company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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