Expanding Opportunities: The Growing Microcontroller Socket Market is Likely to Surpass US$ 2497.5 Million by 2032

The global microcontroller socket market holds a forecasted share of US$ 1236.3 million in 2022 and is likely to surpass US$ 2497.5 million by 2032, moving ahead with a CAGR of 7.3% during the forecast period (2022-2032).

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.

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.

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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.

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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Microcontroller socket market: Key Segments

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