Report ID: SQMIG20D2160
Report ID:
SQMIG20D2160 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|
Tables:
66 |
Figures:
75
In 2022, Asia Pacific dominated the market by gaining a market share of 59.1%. The demand for microcontrollers in this industry is being driven by the rising demand for safety features, ADAS, and electric automobiles. In the Asia Pacific region, the industrial segment is also a prominent end user of microcontrollers, particularly in countries such as China and India, which have substantial and expanding manufacturing industries.
North America is anticipated to grow at a considerable CAGR of 11.7% throughout the forecast period. The rising need for smart and connected devices is one of the key factors influencing the microcontroller market growth in North America. The region is at the forefront of the development of Internet of Things (IoT) technologies, which connect commonplace gadgets to the internet and allow them to communicate and exchange data. The demand for microcontrollers with cutting-edge features such as connectivity, sensing, and low power consumption is driving regional market growth.
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Report ID: SQMIG20D2160