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Microcontroller Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
“Microcontroller Market To Exceed $26.9 Billion
By 2020�
Global microcontroller market is estimated to be valued at USD 26.9 billion by 2020, as per a new research report by Hexa Research. Growing demand in key application areas such as automotive, consumer electronics and healthcare is expected to boost industry growth over the forecast period. Price reduction and quality enhancement may be achieved with the increasing deployment in healthcare industry. Moreover, increasing consumer awareness regarding energy efficient hybrid electric vehicles is likely to favor growth prospects. Proliferation of smart grid systems is expected to drive microcontroller market growth over the forecast period. These systems consist of digital communication and remote control facility, which in turn increases the demand of microcontrollers globally. However, economic slowdown in the industry is likely to pose challenges to industry participants. 32 bit microcontroller was the leading product segment, with revenues reported at USD 6,658.1 million in 2013. Reduction in unit prices is responsible for the increase in demand. In addition, it is embedded in higher processing capabilities devices which are also spurring the demand for this product segment. 16 bit
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