![Global Internet of Things (IoT) Microcontroller Market](https://res.cloudinary.com/devmoveo/image/upload/v1679918846/skyquest/gallery/Global-Internet-of-Things-%28IoT%29-Microcontroller-Market_%281%29.jpg)
Report ID: SQMIG45N2015
Report ID:
SQMIG45N2015 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
68 |
Figures:
75
One of the world's main centres for the production of automobiles is in North America. The expansion of the local economy positively affected both the sales of passenger cars and commercial vehicles. The American Automotive Policy Council 2022 states that American automakers heavily invest in research and development, and automotive microcontrollers are influencing the automotive industry by increasing the demand for 8-bit microcontrollers as vehicle production rises. 8-bit microcontrollers are motivated by hybrid and autonomous vehicles. The strong demand for high-end applications across key end-user industries has made the North American market one of the top consumers of microcontrollers.
The IoT MCU market is anticipated to be dominated by Asia-Pacific, especially by China, India, and Southeast Asian nations. The market's expansion is due to an increase in the use of smart wearables, particularly among millennials and in the form of intelligent fitness trackers and wearables. The demand for IoT devices is anticipated to rise due to increased investment in 5G networks, thus, encouraging the growth of the IoT MCUs market over the forecast period. China, India, Japan, and Southeast Asian nations are the main market drivers. Growing government efforts to create modern, interconnected infrastructure are encouraging for market expansion. In addition, a growing preference for digital infrastructure, expanding urbanisation, and a quickening rollout of public Wi-Fi hotspots are expected to help attract higher revenues for this regional market in the projection period.
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Report ID: SQMIG45N2015