(MENAFN- GetNews) The report on 'IoT Microcontroller Market" helps you to understand the market size, share, growth, trends, major company's performance data and market opportunities. IoT Microcontroller Market Overview:
With the growing importance of interconnectivity, the Internet of Things (IoT) is also gaining visibility and demand in the market. The microcontroller unit is a system on chip (SoC) that consists of memory, programmable output and input devices, and a central processor. In many cases, a small part of RAM is also integrated into a microcontroller to improve performance. Currently, microcontrollers are widely used in many products and automated devices of the Internet of Things, such as power tools, remote controls, office machines, automobile engine controls and medical devices.
According to a new research Report published by Research Cosmos. The IoT microcontroller market is anticipated to reach over USD 5,170 million by 2026.
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IoT Microcontroller Market Drivers and restraints:
It is expected that significant improvements in the Internet of things will meet the requirements of cutting-edge consumer products. This factor is expected to have a positive long-term impact on market growth. It is also expected that the deployment of smart meters in various residential and commercial sectors to closely control the total energy consumption will have a positive impact on the growth of the global IoT microcontroller market in the coming years. However, the power consumed by these microcontrollers is extremely high, which to a certain extent hinders the growth of the market. The developing regions are expected to introduce market players to improve their consumer base and production units. The MCU, also known as a microcontroller, is a system on a chip (SoC) that consists of memory, a processor core and programmable input and output devices. In many cases, a small amount of RAM is incorporated into an MCU for better performance. Currently, the IoT microcontroller is widely used in various devices and products of automatic control (IoT), such as medical devices, motor control systems, office machines, remote controls, power tools and other portable devices.
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IoT Microcontroller Market Geographical segmentation:
North America is expected to dominate the IoT microcontroller market in the coming years due to the presence of a large number of rapidly evolving manufacturers and technologies in the field of smart devices. However, the Asia-Pacific region is expected to experience the fastest growing market during the forecast period. It is expected that the rapid advances in the automotive industry in this region in terms of vehicle connectivity and interactive security system will greatly exploit the demand for IoT microcontrollers in the coming years. In addition, it is also expected that the growing demand for various consumer electronic devices such as smartphones, tablets, smart TVs and smart watches, among others, will boost the demand for IoT microcontrollers in this region.
Some of the prominent players in the global IoT microcontroller market are Infineon Technologies, Broadcom Corporation, Microchip Technology, Fujitsu Ltd, Holtek Semiconductor, Silicon Laboratories, Inc, Texas Instruments, NXP Semiconductors N.V, Atmel Corporation, and Espressif Systems Pte. Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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