The global Microcontrollersocket market is expected to value at USD 1.46 billion by 2024. The microcontroller socket industry is subject to witness a substantial growth due to the rising adoption of microcontroller devices in the communication sector, automobile industry, and consumer electronic sector.
Microcontrollers
are miniature electronic systems that perform and manage numerous operations.
This technology offer seamless management of electronic devices through set of
instructions. Globally, the microcontroller socket market is predicted to grow
at higher CAGR in the forecast period, providing numerous opportunities for
market players to invest for research and development in the microcontroller
socket industry.
The
microcontroller socket are also termed as low-power embedded systems that
offers advantages such as low power consumption, optimal data bandwidth, and
high-end user interface support. Other advantages include flexibility,
susceptibility and low system cost. These factors are anticipated to fuel
market demand for microcontroller sockets in the upcoming years. Increasing
demand for microcontroller technology from automotive sector to reduce
operation cost during various manufacturing processes and to improve overall
fuel economy are expected to stimulate market expansion over the forecast
period. Introduction of power train feature for manufacturing and designing
processes is projected to positively impact market growth as well in the years
to come.
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Development
of integrated circuits (IC) solution that can perform range of application with
low-cost, low-profile, and low-power design requirements are major contributing
factor for industry growth in the upcoming years. Number of original equipment
manufacturers (OEMs), system developers, foundries, packaging and test
sub-contractors, and chip manufacturers are investing heavily to develop the
next generation packaging solutions. These next generation packaging solutions
are capable of delivering faster and economical solutions. These factors are
expected to amplify market value of microcontroller sockets over the forecast
period.
The
microcontroller socket market is broadly categorized into five major segments
based on the product type such as Dual In-line Package (DIP), Ball Grid Array
(BGA), Quad Flat Package (QFP), Small Outline Package (SOP), and Small Outline
IC Package (SOIC). The Ball Grid Array (BGA) is considered as one of the
fastest growing segment in the with substantial revenue generation in the last
few years.
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The
microcontroller socket industry is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
packaging sector, increase in the number of research & development
activities in the region and existence of well-established industrial
infrastructure. Asia-Pacific region is predicted to hold major market share in
the microcontroller socket market with massive growth in forecast period.
Countries
such as India, China and Singapore are leading the Asia-Pacific market with
rapid industrialization, strong economic growth, and significant investment by
leading industry players considering potential growth opportunities in the
region. The key players in the microcontroller socket industry are Texas
Instruments, Inc., Aries Electronics, Inc., Mill-Max Manufacturing Co., CNC
Tech LLC, and Samtec, Inc.
Market
Segment:
Microcontroller
Socket Product Outlook (Revenue, USD Billion, 2014 - 2024)
• DIP
• BGA
• QFP
• SOP
• SOIC
Microcontroller
Socket Application Outlook (Revenue, USD Billion, 2014 - 2024)
• Automotive
• Consumer Electronics
• Industrial
• Medical Devices
• Military & Defense
Microcontroller
Socket Regional Outlook (Revenue, USD Billion, 2014 - 2024)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA
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