The rise in the awareness among consumers regarding the latest technology is leading to the rapid adoption of smartphones across the globe. The increase in the smartphone sales is also credited to the demand for low-cost 4G mobile devices in emerging markets.
The global smartphone demand is increasing at a notable rate, and this factor is projected to drive the microcontroller market during the forecast period. With mobile phone manufacturers, such as Apple, Microsoft, Samsung, Intel, Sony, Philips, Canon, and Lenovo, increasing their production, the sale of microcontrollers is growing.
In terms of end-use application, the microcontroller market is classified into consumer electronics, industrial, automotive, and others. Among these, the automotive industry held the largest share during the base year, and this category is expected to witness the fastest progress during the forecast period.
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The category is driven by the rising demand for better safety features and added functionalities in vehicles, as well as strict government policies on emissions and increase in the integration of entertainment systems. Microcontrollers improve the auto body control, motor control, and many more automobile operations.
On the basis of bit size, these electronic components are categorized into 4/8-bit, 16-bit, and 32-bit. Among these, the 32-bit category dominated the global microcontroller market in the historical period, and it is expected to continue to be the largest revenue generator during the forecast period.
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