The global microcontroller socket market is expected to
reach USD 1.46 billion by 2024, according to a new report by Grand View
Research, Inc. The increasing development and growth of automation and
re-automation in the emerging countries are expected to fuel the industry
growth.
The growth of automation has led to
miniaturization and digitization as well as facilitates dynamics in the field
of technology. The increasing need of providing high performance with power
efficiency has further led to the development of automation technology at a
rapid pace. The increasing labor costs and the growing demand for higher
quality have encouraged the industry participants to opt for automated
equipment in the programming process.
Gradually reducing the package size in the
microelectronics industry has also impacted the market growth in a positive
manner. industry requirements, such as higher density, increased operating
speed, and lower power, have driven packaging in the industry, which has
further led to an enhanced demand within the market.
Furthermore, the demand for thinner, smaller, and
lesser expensive device packaging has also encouraged manufacturers to control
the programming cost. The increasing demand in automotive, consumer
electronics, medical devices for more accurate data, and in military &
defense for enhanced security has also encouraged the industry participants to
further reduce the package size.
Intense competition in the market has led the
industry participants to enhance the product quality and process technologies
as per the market requirement. However, failure to develop new designs and
delays in developing new products with advanced technology may adversely affect
the manufacturer market.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/microcontroller-socket-market
Further key findings from the report suggest:
·
The microcontroller socket market is expected to
boost over the forecast period owing to the increasing microcontroller
applications in various segments
·
The QFP socket is expected to grow at a CAGR of
over 7% from 2016 to 2024, owing to the growing trend of automation and
re-automation in the emerging countries
·
The automotive segment is projected to dominate
over the forecast period owing to the huge application of the socket in the
manufacturing of automobiles, such as body electronics, for enhancing driver
safety
·
The majorindustry players in the microcontroller
socket market include Texas Instruments, Aries Electronics, Mill-Max
Manufacturing Corporation, and Samtec, Inc.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the microcontroller socket market based on product, application, and region:
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
For press release of this report - http://www.grandviewresearch.com/press-release/global-microcontroller-socket-market
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