Microcontrollers market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. The rising demand from the medical sector for electronic medical devices to measure oxygen levels, blood pressure, temperature, and sugar levels and others is growing the market for microcontrollers. In addition the rising number of patients of diabetes, high blood pressure and other diseases is fuelling the demand for medical devices which further increases the demad for microcontrollers as these are used in these medical devices for providing better functioning and providing accurate results. According to American Diabetes Association (ADA) data, In 2019, 37.3 million US people, or around 11.3% of the population, had diabetes, nearly 1.9 million peple in US have type 1 diabetes, including about 244,000 children and adolescents. Around 1.4 million US people are diagnosed with diabetes every year. Now a days youths are also getting diabetes, around 283,000 people in US under age 20 are anticipated to have diagnosed diabetes, approximately 0.35% of population. Hence these increasing diseases in supporting the growth of the microcontrollers, as medical devices need these microcontrollers in devices to provide accurate results and better experience.
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The global microcontrollers market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement.The North America is anticipated to grow at the fastest rate during the forecast period owing to the growing number of IoT ecosystems in homes and corporate places in North America. It is a broad network of connected and interdependent devices and technologies. It has led to the increase in the demand for smart electricity gadgets, sensors, medical devices, smart wearables, and other IoT-enabled devices from consumers, which is expected to grow the North American market over the forecast period. According to National Library of Medicine data, around 30% of US adults use wearable health care devices to track their health. Among the users, nearly half use the devices every day, with a majority willing to share the health data from wearables with their care providers. Advances in wireless sensors and digital technologies have led to a increase in wearable health care devices with which users can examine, monitor, and track their physiological health. Hence the demand for smart wearables will increases the demand for microcontrollers which will boost the market in North America.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Microcontrollers Market Report Segment
By Type
- 8-Bit
- 16-Bit
- 32-Bit
By Application
- Automotive
- Consumer Electronics
- Industrial
- Medical Devices,
- Other
Global Microcontrollers Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global microcontrollers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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