San Francisco, California (PRWEB) June 09, 2014
The global microcontroller market is expected to reach USD 26,984.8 million by 2020, according to a new study by Grand View Research, Inc. Growing demand from end-use industries such as automotive and consumer electronics is expected to drive the global market over the forecast period. The advent of the Internet of Things (IoT) coupled with declining microcontroller prices is also expected to drive the industry over the next six years.
Development of microcontrollers integrated with NFC (near-field communication), Bluetooth, and ZigBee among other wireless interfaces is expected to positively impact the global market. Favorable regulatory scenario for the installation of smart grid systems is expected to boost microcontrollers demand over the forecast period. This is also expected to be a key growth opportunity for major industry participants.
The report “Microcontroller Market Analysis By Product (4/8-bit, 16-bit, 32-bit), By Application (Automotive, Consumer Electronics, Industrial) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/microcontroller-market.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global microcontroller market on the basis of product, application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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