The Microcontroller market is expected to grow at a CAGR of 8.8% to reach USD 35.1 billion by 2025.
A microcontroller (also termed as microcontroller unit or embedded controller) is a small and low-cost computer-on-a-chip product. This compact integrated circuit is developed to address specific functions in an embedded system. This technology typically comprises memory, processor, and input/output peripherals on a single chip. The industry growth is majorly attributed to the development of the automotive sector, coupled with increasing demand for luxury vehicles that use advanced microcontrollers. Furthermore, technology advancements, rising demand for smaller electronic components, and proliferation of smart grid system support the market development. However, an economic slowdown is expected to pull back the industry growth to some extent.
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