Rising demand for automation across end-users industries, growth in demand for wearable healthcare devices and other consumer electronics is driving the market.
The global IoT MCU Market is forecasted to reach USD 5.93 Billion by 2028, according to a new report by Reports and Data. The major factors attributed to the growth of the market are the rising demand for automation across end-users industries, growth in demand for wearable healthcare devices and other consumer electronics and advancement of IoT.
APAC is expected to hold the largest market and is forecasted to reach USD 1.61 Billion in 2028, at the highest CAGR of 15.28% during the forecast period followed by North America. This is mainly accredited to advancement in technology innovation and increasing adoption of the automation technologies in various industry verticals. Major application for industrial control and factory automation in Asia Pacific are oil & gas, semiconductor, electronics, automotive, chemicals, water and food. China is one of the primary players of this region for automation market. China has been working on developing more innovative industrial practice by implementing automated technologies in manufacturing sector.
Key participants include NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., Microchip Technologies Inc., Cypress Semiconductor Corporation, Broadcom Inc., Maxim Integrated Inc., Silicon Laboratories Inc., Renesas Electronic Corporation, Holtek Semiconductors, Toshiba, Panasonic Corporation, Nuvoton Technology Corporation and others.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented global IoT MCU market on the basis of IoT MCU Type, IoT MCU application, and region:
IoT MCU Type Outlook (Revenue, USD Million; 2020-2028)
IoT MCU Application Outlook (Revenue, USD Million; 2020-2028)
Regional Outlook (Revenue, USD Million; 2020-2028)
Key Advantages of IoT MCU Report:
Conclusively, all aspects of the IoT MCU market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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