Microcontroller Socket Market Growth Examines Business Planning, Share, Size, Growth, Opportunities 2032

The market for microcontroller socket is gaining attention from its increasing application across various sectors including automotive, consumer electronics, military and defense, and industrial, automation and re-automation in developing countries, and increase in IC packaging development.

Socket producers are endlessly developing novel designs for the purpose of interconnecting solutions for fine pitch, high I/O, low profile applications, and for attaining severe regulations of reliability and performance. The projected CAGR of 7.3% over the forecast period, the global microcontroller socket market overview is expected to reach US$ 1236.3 million in 2022 and US$ 2497.5 million by 2032. (2022-2032).

Gradually reducing the package size in the microelectronics industry has impacted the microcontroller socket 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 microcontroller socket market forecast.

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Microcontroller socket market:Drivers and Challenges

Narrowing costs is the key driving force in the IC manufacturing industry. Improvements in technology help to fulfill the desires of leading-edge electronic systems. Nevertheless, when an IC producer is given the option of keeping costs under control or utilizing the most progressive technology, his option mostly would lean toward minimizing costs and the same happens in microcontroller socket market.

The major challenge faced by Microcontroller socket market is the fierce competition between the leading vendors of this market which is not allowing the market to grow.
Microcontroller socket market: Competition Landscape

Key Contracts
In October 2016, STMicroelectronics acquired NFC and RFID reader assets, strengthening their portfolio of secure microcontrollers for next-generation mobile and Internet of Things devices.
In September 2012, Sensata Technology Inc. acquired WELLS-CTI Inc. a product division by the name of Qinex designs and manufactures sockets for the Semiconductors Industry. WELLS-CTI Inc. specializes in making of Test Sockets Which include Microcontroller sockets.

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Key Players

Some of the key players of microcontroller socket market are: Intel, Loranger International Corporation, Aries Electronics Inc., Enplas Corporation, FCI, Johnstech International Corporation, Mill-Max Mfg. Corporation, Molex Inc., Foxconn Technology Group, Sensata Technologies B.V., Plastronics Socket Company Inc., Tyco Electronics Ltd., Chupond Precision Co. Ltd., Win Way Technology Co. Ltd., 3M Company, Enplas Corporation, Yamaichi Electronics Co. Ltd. and Johnstech International Corporation

Microcontroller socket market: Regional Overview
On the basis of geography, microcontroller socket market can be segmented into five key regions namely North America, Latin America, Europe, APAC and Middle East & Africa. Among various regions, the microcontroller socket market in APAC is expected to dominate during the forecast period owing to adoption of microcontroller socket by several industries for implementing products of automobile and healthcare industry. Asia Pacific region is expected to be followed by North America and Europe.

In North America and Europe region, the market of microcontroller socket is gradually growing owing to the presence of small and large IC manufacturers present in this region.

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Regional analysis for Microcontroller socket market includes
• North America
o US
o Canada
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Europe
o Western Europe
o Germany
o France
o U.K
o Italy
o Spain
o Nordics
o Benelux
o Rest of the Western Europe
• Eastern Europe
o Poland
o Russia
o Rest of the Eastern Europe
• Asia Pacific excluding Japan (APEJ)
o China
o India
o ASEAN
o Australia and New Zealand (ANZ)
o Rest of APEJ
• Japan
• The Middle East and Africa
o GCC Countries
o North Africa
o South Africa
o Rest of MEA

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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This release was published on openPR.