The global microcontroller market to grow at a CAGR of 5.03% during the period 2017-2021.
The report, Global Microcontroller Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is growing adoption of connected cars. Due to the increasing adoption of connected cars, their demand is expected to rise during the forecast period. Connected cars will have to support the highest level of security. Automotive MCUs, with their unique combination of connectivity, performance, security, and scalability, enable car manufacturers and their subsystem suppliers to decide new standards in ensuring a greener, safer, and more enjoyable driving experience.
According to the report, one driver in market is growing demand for mobile computing devices. The consumer electronics market is driven by smartphones, tablets, notebooks, wearable devices. While the smartphone dominates the consumer electronics market, wearables observed a rapid growth in 2016. With the growing adoption of the wearable technology, a broader range of products is being developed.
Consumers are looking for more sophisticated gadgets, and the growth of the connected world is driving the acceptance of portable and wearable electronics. Internet-enabled smartphones can be used for multiple purposes like reading the news, surfing the web, accessing social networking apps, and checking mail. The global smartphone market is expected to grow at a CAGR of 4.11% during the forecast period. The growth in the smartphone market will also propel the growth of the global microcontroller market.