Published On : 03 Jul 2018
The electronics industry, particularly that pertaining to consumer electronics, has been on an upswing in the past decade with the growing ubiquity of miniaturized smart devices such as mobile phones, tablets, and personal computer. As a result, the demand for microprocessors, and consequently microcontrollers is expanding. Microcontrollers are essentially a certain type of processor on a single integrated circuit with the combination of input and output peripherals, processors, and memory. Customized microcontrollers can be automatically installed on consumer electronics including home appliances, office machines, remote controls, power tools, and others. The expansion of demand in the microcontrollers market can also be attributed to the error free functioning that they bring to the table as well as ensure smooth process flow.
The global microcontrollers market is gaining strong traction from the prospering automotive industry, wherein the demand is ripe for automated machines. Increasing modernization of vehicles, affinity for infotainment, and gradual shift onto electric vehicles in order to trim down the dependency on fossil fuel to control pollution levels are some of the key factors driving the automotive microcontrollers market. In addition to that, with the proliferating demand for smart grid systems, the microcontrollers market is poised to attain greater heights. On the other hand, significantly higher cost of the vehicles or products is holding the microcontroller market from attaining greater profitability.
Based on product type, a recent study by QYResearchReports has segmented the microcontrollers market into 32 bit, 16 bit, 8 bit, an others, whereas application-wise, the market has been segmented into computer, communications, consumer goods, industrial, and automotive. Among these, the automotive and consumer goods segments continue to produce the most prominent chunk of demand.
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The analyst of the report has highlighted the presence of a number of vendors who are connected to the value chain of the global microcontrollers market. However, a few leading names in the semiconductor industry are holding a position of strength over their competitors, such as Infineon Technologies, Cypress Semiconductor, NXP Semiconductors, Microchip Technology, Renesas Electronics, Texas Instruments, and STMicroelectronics. Most of these major players are frequently indulging into merger and acquisitions with regional and domestic players, which not only increments their production capacity but also strengthens their supply chain. In addition to that, the focus of major players is also on product innovation, leveraging niche opportunities such as application into safety systems, vehicle connectivity, and autonomous cars.
Geographically, the radical rise of China’s industrial sector is maintain Asia Pacific as the region with greatest potential. Moreover, the automotive industry in this region overall is expanding as a result of increased disposable income of the urban population living in the metropolitan areas. Safety technologies for passenger cars is on the rise and vendors of the market are feeding off it.
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