The rising demand for enhanced technology in order to reduce fuel consumption is stoking the demand for lower-power embedded systems. To capitalize on prevailing opportunities, manufacturers have started producing powertrain applications.
Albany, NY -- (SBWIRE) -- 03/14/2017 -- The global microcontroller socket market is forecast to expand considerably in the coming years. Due to their increasing application in communication, industrial, and automobile sectors, the demand for microcontroller sockets is forecast to augment at a high pace. Microcontrollers are integrated in varied electronic devices in order to manage device operations. Because the technology allows seamless management of electronic devices, its demand is expected to scale higher in the near future.
Currently, the market is witnessing high demand across automotive, industrial, consumer electronics, military and defense, and medical devices sectors. Of these, the market is forecast to see robust growth in the automotive sector, which is witnessing rapid expansion across developing regions. In the automotive segment, microcontroller sockets find application in body electronics and information devices. Based on product, some of the key market segments are ball grid array (BGA), dual in-line package (DIP), small outline package (SOP), quad flat package (QFP), and small outline IC package (SOIC).
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Aimed at providing a comprehensive market overview, the report covers industry factors affecting its growth across then aforementioned segments. The most lucrative opportunities are identified as well based on information obtained via proven research methodologies. Compiled with the intent of helping stakeholders gain a better perspective about the global microcontroller socket market, the report also studies the effect of Porter's five forces on the overall operations.
Global Microcontroller Socket Market: Trends and Opportunities
The rising demand for enhanced technology in order to reduce fuel consumption is stoking the demand for lower-power embedded systems. To capitalize on prevailing opportunities, manufacturers have started producing powertrain applications. These exhibit miniaturized designs, low consumption of power, and reduced weight. Such improvements have helped improving functionality per chips with high output and input. Besides, these chips are available in smaller package size. Furthermore, the use of copper wire has increased, which has reduced the cost incurred in packaging without compromising on productivity. Spurred by these factors, the demand for microcontroller socket is projected to rise in the coming years.
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The market is also forecast to gain from recent developments in IC packaging enabling it deliver high application for a low cost in a low-profile and low-power design. These developments show great potential, lured by which system developers, OEMs, packaging and test subcontractors, foundries, fabless chip companies, and chip manufacturers are placing high stakes on the next generation packaging solutions. Uptake of IC packaging is therefore increasing as manufacturers look for ways of delivering better, faster, and cheaper results. This in turn will augment the demand for microcontroller socket market.
Global Microcontroller Socket Market: Regional Outlook
Due to the rising demand in Japan and China, the microcontroller socket market in Asia Pacific is forecast to exhibit robust growth. Besides this, the increasing demand for sockets in the region's flourishing microelectronics industry will aid growth. In North America as well, the market will witness attractive opportunities. The expansion of the smart energy and communication sectors will bolster opportunities for the microcontroller socket market in North America.
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Global Microcontroller Socket Market: Vendor Landscape
Mill-Max Mfg. Corporation, Aries Electronics, CNC Tech LLC, and Samtec, Inc. are among the most prominent enterprises operating in the global microcontroller socket market. In order to gain pace, a majority of these companies are focusing on product development and expanding their global footprint. Business policies and marketing strategies adopted by these enterprises will also exert considerable influence on the overall market.
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