Published Date : Aug 06, 2018
Albany, New York, Aug 6, 2018: The global market for internet of things (IoT) microcontroller has been expanding on account of the growing reliance on IoT technologies across several industries. A microcontroller is a system on chip that consist of a core processor and a memory storage that collectively help in producing a programmable output. Microcontrollers enhance the performance of IoT devices and systems, and hence, the former are extensively used by industries that deploy IoT technologies. Integration of a microcontroller with random access memory is also done to enhance the performance of systems. Remote controls, automobile engine controls, power tools, medical devices, and office machines are some of the IoT systems wherein microcontrollers are used. The demand within the global market for internet of things (IoT) microcontroller is expected to reach new heights over the forthcoming years. This rise in demand can be attributed to the escalating importance of better connectivity across several sectors and industries. Several products are now base on IoT technologies, and this further enhances the growth prospects of the global internet of things (IoT) microcontroller market. A report by Market Research Reports (MRR) established a relationship between the growth of the global market and the external forces of demand. The title of the report is “Internet of Thing (IOT) Microcontroller Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”.
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The advent of IoT technologies has helped in meeting the demand of a varied consumer base across a plethora of industries. This factor has aided the growth of the global market for internet of things (IoT) microcontroller by attracting demand from multiple industries. Furthermore, several regions have witnessed the escalating popularity of smart metering systems that use IoT technologies. Hence, the demand within the global internet of things (IoT) microcontroller market has risen alongside the growth of smart technologies. The successful completion of several smart cities has inspired other cities and regions to adopt smart technologies. As the demand for creating a framework of smart technologies rises across the world, it is also expected to push the demand within the global IoT microcontroller market. The demand for internet of things (IoT) microcontroller flows in from several industries including healthcare, automobiles, and power systems.
The market for internet of things (IoT) microcontroller in North America has been expanding at a robust rate due to the early adoption of smart technologies in the region. Furthermore, a huge number of manufacturers of IoT devices are present in the US and Canada which further aids the growth of the regional market. The popularity of automobiles with interactive safety systems in the US has also created demand within the global market for internet of things (IoT) microcontroller.
Some of the key players in the global market for internet of things (IoT) microcontroller are Freescale (U.S.A), ST Microelectronics (Switzerland), and Infineon (Germany).
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