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Research and Markets has announced the addition of the "Global Semiconductor Micro Components Market 2017-2021" report to their offering.
The global semiconductor micro components market to grow at a CAGR of 1.96% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global semiconductor micro components market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of semiconductor micro components.
IoT is the latest trend in the global technology arena. IoT connects all essential home devices to the Internet. This includes car, TV, laptop, coffee maker, automated door locks, GPS-enabled pet trackers, wearable devices, and mobile phones, forming a network of connected devices.
According to the report, the global microprocessor market is highly dependent on the semiconductor industry, which, in turn, is dependent on the sales of various electronic devices such as smartphones, tablets, and wearable computers. Since 2013, the number of electronic devices introduced in the market has increased considerably. This has led to a rise in the need for semiconductor microprocessors, as manufacturers are continuously increasing their product portfolios to remain abreast of the ongoing competition. This has led to a rapid technological transformation, increasing the demand for microprocessors, and, therefore, driving the market.
Further, the report states that with improved technology and emergence of compact devices, such as smartphones, tablets, and wearable technologies such as smart watches, the demand for small sized DSPs is increasing. Hence, due to miniaturization, vendors need to constantly update their offerings with more advanced and compact DSPs to suit the consumer requirements. This requires the vendors in the market to invest a huge amount of money in procuring expensive equipment to manufacture smart and intelligent systems. Also, vendors have to increase their budgets to produce these intelligent systems. Rapid technological advances are forcing the market vendors to increase their investments in the manufacturing of intelligent systems, which can reduce their profitability.