Global Microcontrollers (Mcu) Market to Be Propelled by Growing Automobile Market

Owing to the growing popularity of touchscreen technology and rising demand for medical electronics, the global microcontrollers (MCU) market, which in 2011 was valued at US$15.7 billion, is anticipated to reach a market value of US$28.49 billion by 2018. This market is anticipated to grow at a 9% CAGR from 2012 to 2018. Microcontrollers are application-specific integrated circuits that are placed within computing devices and are primarily meant to control the features of the specific products. Microcontrollers are programmed for controlling products such as consumer appliances and vehicles and automobiles.

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High demand for microcontrollers in LED lighting and portable gadgets can be attributed to the fact that microcontrollers are low-cost instruments that are technologically quite advanced. Microcontrollers, also known as embedded controllers, consist of memory, a processor, and peripherals. As per industry trends, it is believed that the expanding automotives segment will drive the global microcontrollers market during the forecast period, since even a basic modern car requires quite a few microcontrollers to ensure effective functioning due to the prevalence of electronic gadgetry.

High Demand for Gadgets to Drive Demand for Microcontrollers

The global microcontrollers market is segmented on the basis of three main parameters, which are product, application, and geography. On the basis of product type, this market is segmented into 8-bit, 16-bit, and 32-bit microcontrollers. The segment for 32-bit microcontrollers is gaining popularity owing to their capacity to bring down unit prices. Application-wise, the microcontrollers market is categorized into automotives, communications, industrial, computers, and consumer goods. Rising demand for gadgets such as smartphones, phablets, and tablets is...