Microcontroller Socket Market Moving Ahead with a CAGR of 7.3% During the Forecast Period 2022-2032

The market for microcontroller socket is gaining attention from its increasing application across various sectors including automotive, consumer electronics, military and defense, and industrial, automation and re-automation in developing countries, and increase in IC packaging development.

Socket producers are endlessly developing novel designs for the purpose of interconnecting solutions for fine pitch, high I/O, low profile applications, and for attaining severe regulations of reliability and performance. The projected CAGR of 7.3% over the forecast period, the global microcontroller socket market is expected to reach US$ 1236.3 million in 2022 and US$ 2497.5 million by 2032. (2022-2032).

Gradually reducing the package size in the microelectronics industry has impacted the microcontroller socket market growth in a positive manner. Industry requirements, such as higher density, increased operating speed, and lower power, have driven packaging in the industry, which has further led to an enhanced demand within the microcontroller socket maarket.

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Microcontroller socket market:Drivers and Challenges

Narrowing costs is the key driving force in the IC manufacturing industry. Improvements in technology help to fulfill the desires of leading-edge electronic systems. Nevertheless, when an IC producer is given the option of keeping costs under control or utilizing the most progressive technology, his option mostly would lean toward minimizing costs and the same happens in microcontroller socket market.

The major challenge faced by Microcontroller socket market is the fierce competition between the leading vendors of this market which is not allowing the market to grow.

Microcontroller socket market: Competition Landscape

Key Contracts

In October 2016, STMicroelectronics acquired NFC and RFID reader assets, strengthening their portfolio of secure microcontrollers for next-generation mobile and Internet of Things devices.

In September 2012, Sensata Technology Inc. acquired WELLS-CTI Inc. a product division by the name of Qinex designs and manufactures sockets for the Semiconductors Industry. WELLS-CTI Inc. specializes in making of Test Sockets Which include Microcontroller sockets.

Key Players

Some of the key players of microcontroller socket market are: Intel, Loranger International Corporation, Aries Electronics Inc., Enplas Corporation, FCI, Johnstech International Corporation, Mill-Max Mfg. Corporation, Molex Inc., Foxconn Technology Group, Sensata Technologies B.V., Plastronics Socket Company Inc., Tyco Electronics Ltd., Chupond Precision Co. Ltd., Win Way Technology Co. Ltd., 3M Company, Enplas Corporation, Yamaichi Electronics Co. Ltd. and Johnstech International Corporation

Microcontroller socket market: Regional Overview

On the basis of geography, microcontroller socket market can be segmented into five key regions namely North America, Latin America, Europe, APAC and Middle East & Africa. Among various regions, the microcontroller socket market in APAC is expected to dominate during the forecast period owing to adoption of microcontroller socket by several industries for implementing products of automobile and healthcare industry. Asia Pacific region is expected to be followed by North America and Europe.

In North America and Europe region, the market of microcontroller socket is gradually growing owing to the presence of small and large IC manufacturers present in this region.

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The report covers exhaustive analysis on

Microcontroller socket market Segments
Microcontroller socket market Dynamics
Historical Actual Market Size, 2012 - 2016
Microcontroller socket market Size & Forecast 2017 To 2027
Supply & Demand Value Chain
Microcontroller socket market Current Trends/Issues/Challenges
Competition & Companies involved
Microcontroller socket Value Chain
Microcontroller socket market Drivers and Restraints

Regional analysis for Microcontroller socket market includes

North America
US
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Western Europe
Germany
France
U.K
Italy
Spain
Nordics
Benelux
Rest of the Western Europe
Eastern Europe
Poland
Russia
Rest of the Eastern Europe
Asia Pacific excluding Japan (APEJ)
China
India
ASEAN
Australia and New Zealand (ANZ)
Rest of APEJ
Japan
The Middle East and Africa
GCC Countries
North Africa
South Africa
Rest of MEA

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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