The global microcontroller socket market holds a forecasted share of USD 1236.3 million in 2022 and is likely to surpass USD 2497.5 million by 2032, moving ahead with a CAGR of 7.3% during the forecast period (2022-2032).
| Report Attribute | Details |
|---|---|
| Microcontroller Socket Market Value (2022) | USD 1236.3 million |
| Microcontroller Socket Market Anticipated Forecast Value (2032) | USD 2497.5 million |
| Microcontroller Socket Market Projected Growth Rate (2022 to 2032) | 7.3% |
The microcontroller socket market is gaining attention with its increasing application across various sectors, including automotive, consumer electronics, military and defence, and industrial automation and re-automation in developing countries, and an increase in IC packaging development.
The microcontroller socket market is categorized into five major segments that are based on the product type such as Dual In-line Package (DIP), Ball Grid Array (BGA), Quad Flat Package (QFP), Small Outline Package (SOP), and Small Outline IC Package (SOIC). The Ball Grid Array (BGA) is considered to be the fastest-growing segment with substantial revenue generation in the last few decades.
Socket producers are endlessly developing novel designs for 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 positively. Industry requirements, such as higher density, increased operating speed, and lower power, have driven packaging in the industry. This further led to an enhanced demand within the microcontroller socket market.
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Narrowing costs is the key driving force in the IC manufacturing industry. Improvements in technology help to fulfil 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. This option mostly leans toward minimizing costs, and the same happens in the microcontroller socket market.
The number of original equipment manufacturers (OEMs), foundries, system developers, test subcontractors and packaging, and chip manufacturers are investing heavily in developing the next generation packaging solutions.
These next-generation packaging solutions are capable of more economical and delivering faster solutions. Thus, these factors are expected to amplify the microcontroller socket market share over the forecast period.
The major challenge faced by the microcontroller socket market is the fierce competition between the leading vendors of this market which is not allowing the market to grow.
The rising demand for enhanced technology to reduce fuel consumption is stoking the demand for lower-power embedded systems. Manufacturers have started producing powertrain applications to capitalize on these opportunities. Low power consumption and reduced weight exhibit miniaturized designs.
Such improvements in the microcontroller socket market have helped improve functionality per chip with high output and input. Besides, these chips are available in smaller package sizes.
Furthermore, the use of copper wire has increased, which has reduced the cost incurred in packaging without compromising productivity. Spurred by these factors, the demand for microcontroller sockets is projected to rise in the coming years.
The microcontroller socket market is also forecast to gain from recent developments in IC packaging, enabling it to deliver high performance at a low cost in a low-profile and low-power design. These developments show significant potential, attracting system developers,
OEMs, packaging and test subcontractors, foundries, fabless chip companies, and chip manufacturers place high stakes on the next-generation packaging solutions. The uptake of IC packaging is therefore increasing the microcontroller socket market as manufacturers look for ways of delivering better, faster, and cheaper results. This, in turn, will increase the demand for the microcontroller socket market.
Based on geography, the 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 the adoption of microcontroller sockets by several industries for implementing products in the 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 for microcontroller sockets is gradually growing owing to the presence of small and large IC manufacturers present in this region.
Some of the key players in the 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.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.3% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Application, Region |
| Countries Covered | North America; Europe; APEJ; The Latin America; MEA |
| Key Companies Profiled | 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.; Johnstech International Corporation |
| Customization | Available Upon Request |
The microcontroller socket market is projected to grow by USD 1267 million in 2022.
Some of the key players in the microcontroller socket market are Intel, Loranger International Corporation, Aries Electronics Inc., Enplas Corporation, FCI, Johnstech International Corporation, Mill-Max Mfg. Corporation, Molex Inc., and Foxconn Technology Group.
APAC region dominates the microcontroller socket market.
The microcontroller socket market is expected to grow at a CAGR of 7.3 % from 2022 to 2032.
The driving factor in the microcontroller socket market is narrowing costs in the IC manufacturing industry and improvements in technology.
Explore Electronics & Components Insights
View Reports
Microcontroller Socket Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
